SAF-T-PAY has signed an agreement with BBVA Banco Continental and is announcing the launch of their innovative, secure e-payment solution in Peru.
By accessing BBVA Banco Continental's online portal and using SAF-T-PAY's secure payment system, customers will be able to purchase items from top Peruvian and international e-retailers and pay for their purchases in local currency through their local bank.
Unlike other payment methods, SAF-T-PAY does not require users to disclose any personal financial information, thereby eliminating potential risk of identity fraud.
"For the 4.5 million Peruvians with internet access, SAF-T-PAY provides an innovative, simple, and secure way to make purchases from e-businesses located in Peru and around the world without having to provide any personal financial information," said Roberto Carrillo, a General Manager of SAF-T-PAY for Latin America. "Through this agreement with BBVA we will facilitate the growth of international e-commerce in Latin America." added Carrillo.
"This alliance with SAF-T-PAY will enable us to further reinforce our leadership as a global provider of online banking services," said BBVA Banco Continental EVP Head of Retail Banking Jose Luis Casabonne. He further emphasized "We can now offer the most innovative and secure online banking products to millions of Peruvians."
There are more than 65 million internet users in Latin America's nine largest markets, and e-commerce is expected to reach US $40 billion in 2011, a 25% yearly. New free trade agreements with the U.S. and the European Union are expected to boost this trend even more
How does SAF-T-PAY work?
Step 1. Customer places an order with an affiliated merchant, chooses SAF-T-PAY as the payment method as well as the currency the buyer wishes to pay in. SAF-T-PAY provides the customer with a transaction number. The information appears real-time on the screen and is also sent to the client by e-mail.
Step 2. Client signs on to BBVA Banco Continental's secure online banking portal and authorizes the payment. Merchant fulfills the order and sends shipping confirmation to the customer.