Retail Expansion Network, an e-commerce solution provider, announced that more than 200 Internet retailers have added PaidByCash to their sites. PaidByCash enables consumers to easily use cash to make purchases online by obtaining a virtual prepaid MasterCard® card account. The new service was launched in the United States only two months ago and is gaining significant traction quickly among online merchants and shoppers. The PaidByCash Virtual Prepaid MasterCard account is issued by First Bank of Delaware.
PaidByCash empowers consumers to leverage cash for online transactions simply by visiting one of 60,000 neighborhood retail outlets that will load cash onto a virtual MasterCard card account that can be used to make a payment online.
Shoppers may load a PaidByCash card account with an exact amount for a one-time online purchase or load up to $350 and make multiple online purchases. Any online retailer that accepts Debit MasterCard can accept PaidByCash. Because very little integration is required to offer PaidByCash, online retailers are rapidly adopting it as a way to reach a broader range of consumers.
“Soon after hearing about PaidByCash, we decided to add it to our SoldierFuel.com website. Literally, within just a few minutes, PaidByCash was live and available as an option to anyone wanting to purchase our Hooah energy bars and Hooah Soldier Fuel energy drinks,” said Mark D’Andrea, president of Hooah.com, a online network for the military community that donates proceeds from the sale of its energy products to fund research on soldier safety, diet and quality of life. “Now anyone, including those without credit cards, can help support our troops.”
American consumers who benefit from using PaidByCash include shoppers who are typically cash reliant and need to convert cash to make online purchases.
“Easy integration was key to our decision to add PaidByCash as an option for our customers,” said Daniel James, CEO of Three Rings, developers of Puzzle Pirates and Bang! Howdy. “There is an untapped market for using cash for subscriptions and in-game currency for our games so we anticipate a host of new customer transactions from PaidByCash.”
“More than 200 retailers are already using PaidByCash and the demand for our service continues to grow at an astounding rate,” said Michael Marubio, CEO of Retail Expansion Network. “For the first time, online retailers in the United States can reach consumers who prefer to pay cash for their purchases. The convenience factor of PaidByCash in terms of integration for online merchants and cash conversion for consumers makes this a viable new service that will have a significant impact on the e-commerce community and online shoppers alike.”
About Retail Expansion Network
Retail Expansion Network operates PaidByCash, a patent pending ecommerce service with more than 60,000 affiliated retail stores nationwide that enables any Internet retailer to accept cash converted payments and any online shopper to pay with the Virtual Prepaid MasterCard. The company works with First Bank of Delaware, Western Union, Card Express International and MasterCard International to enable the nation’s first coast-to-coast cash conversion service for ecommerce. For more information, visit www.retailexpansionnetwork.com.
The PaidByCash Virtual Prepaid MasterCard account is issued by First Bank of Delaware pursuant to a license from MasterCard International Incorporated.
