People moves

CashtoCode reveals new senior leadership team

| By Robert Fletcher
CashtoCode, an instant cash payment service for online merchants, has announced a series of changes to its senior leadership team, including the appointment of Jens Bader as its new chief executive.

Christian Machmeier will take on the role of chief technology officer as part of the new setup, while Patrick Lebenbauer will become director of global marketing.

Bader has worked in the payments industry for a number of years, helping to co-found MuchBetter/MIR and serving as chief commercial officer at both Secure Trading and paysafecard.

Machmeier previously served in senior roles at both Gameforge and Audi, while Lebenbauer worked for the likes of Tipico and KaFe Rocks.

“CashtoCode offers a second life to cash, which remains hugely popular despite the growth of card, open banking and online payments,” Bader said. “We enable merchants to target a market sector that they couldn’t reach without an instant cash deposit partner.

“During the pandemic, many venues and activities that would typically take cash payments were not open, but their customer-base never left. These are people who still prefer to pay by cash wherever possible, for privacy, self-control and security reasons.

“Many have not switched to online banking, but have instead utilised services like ours to pay with cash for their online activities.”

The triple appointment comes after a record 12 months for CashtoCode, which saw revenue grow by 500% during 2020.

CashtoCode also added more than 100 new merchants to its platform and can now be used by customers across 150,000 retail locations in Europe.

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