Founded in 2005 and acquired by Grupo Silvio Santos in 2009, Braspag is the leading payment processing company for e-commerce and call centers in Brazil. Braspag integrates payment methods as well as consolidates technical, financial, and operational processes for the main e-commerce organizations in Brazil, covering 80 percent of the total e-commerce retailers in Brazil. The company works with the top 18 online retailers, which generate 80 percent of the billing volume in Brazil. The partnership will guarantee SafetyPay's presence in such e-commerce organizations.
"Partnering with Braspag is a natural step in SafetyPay's continual international expansion," said Manuel Montero, founder and chief executive officer of SafetyPay. "We look forward to expanding our footprint in Brazil and utilizing the strong ties that Braspag has within the marketplace."
SafetyPay was created to help financial institutions monetize 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 and offers them maximum flexibility in terms of payment options.