Paysafe Group has introduced a cash-based online payment mechanism for people who don’t have bank accounts or don’t use cards online due to security concerns. The U.K.-based payments services provider is also expanding its presence in the U.S.
As more small to medium-sized businesses look to international e-commerce markets to boost sales, differences in tax laws can cause complications for sellers—and an opportunity for payment gateway companies offering workarounds.
Two major Canadian banks, Bank of Montreal and Simplii Financial, have become victims of hacks that affected some 50,000 and 40,000 customers respectively. Neither bank decided to pay the ransom by the hackers' May 28 deadline.