Former Paysafe and MuchBetter exec lands new CEO role

Payments solutions provider CashtoCode has appointed igaming veteran Jens Bader as the platform’s new CEO.

Bader founded e-wallet firm MuchBetter and served as chief commercial officer (CCO) for Paysafe brand Paysafecard from October 2010 until April 2014.

The former Secure Trading CCO joins the German group to front its leadership team following a successful 12 months, with igaming shaping up to be a key market for the group.

CashtoCode revenue grew by 500% in 2020 as the platform onboarded 100 new merchants. The group’s services can currently be accessed across 150,000 retail locations throughout Europe.

Bader has been joined by Christian Machmeier as CashtoCode chief technology officer, while former KaFe Rocks chief marketing officer Patrick Lebenbauer has arrived as director of global marketing.

CashtoCode noted that following the appointment of the trio, focus would shift to securing more partners and users, as well as geographical expansion.

The business allows consumers to pay for goods and services with cash over the internet.

Bader said: “CashtoCode offers a second life to cash, which remains hugely popular despite the growth of card, open banking and online payments.

“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,” he added.