SafetyPay, a secure payment facilitator and clearinghouse benefiting online shoppers, online merchants and banks worldwide, announced today that it is formally entering the U.S. market through the introduction of its retail pilot program.
The company is already established in a number of countries throughout Europe and Latin America and has access to more than 90 million bank customers worldwide. SafetyPay has partnered with more than 22 prominent international banks such as Santander, ScotiaBank and BBVA/Bancomer, and more than 2,000 international retailers such as Nike and Sears.
SafetyPay's retail pilot program is designed to give U.S. merchants the opportunity to tap into the online banking customer base of a leading U.S. bank partner for a three-month trial period. Additionally, SafetyPay will be launching a promotional program marketed to customers of more than 600 U.S. regional and community banks. Working with SafetyPay, merchants will gain access to millions of local and international shoppers. Customers complete their purchases in real time through their banks online banking platform and SafetyPay pays the merchants in U.S. dollars, regardless of the customer's country of residence.
SafetyPay was created to help financial institutions monetize their online banking platforms by providing a secure, direct payment method between a consumer's bank and the retailer of choice. SafetyPay is unique in the industry in that it links the customer directly to their online banking account.
The SafetyPay solution empowers financial institutions to realize a greater return on investment with their online banking platforms by generating transaction revenue and strengthening the customer relationship through the online channel. SafetyPay is the intelligent alternative to other industry payment services because it allows consumers to work directly with their trusted financial institutions to purchase desired goods and services worldwide online. By eliminating payment processing middlemen, SafetyPay eradicates payment fraud and creates an efficient payment process for financial institutions and merchants.
"E-commerce has historically been a challenge due to the various curreurrencies, payment security and the inability to process foreign credit cards," said Manuel Montero, CEO of SafetyPay. "Our goal is to vastly improve the experience for both merchants and consumers when it comes to facilitating e-commerce. In doing so, we are able to provide merchants with an intelligent and risk-free payment solution to buy online and at the same time reach a captive and untapped market: online banking customers. Our fraud proof solution - which is already in use in 8 countries and is available to more than 90 million customers - enables U.S. merchants to grow through access to bank customers worldwide, with the guarantee of payment in their own currency."