SafetyPay, a secure payment provider serving online shoppers, merchants and banks worldwide, announced today its global cash payment platform. Through SafetyPay, online merchants can now accept cash payments from customers within the US and internationally.
Introducing the cash payment option, merchants are now able to accept cash payments from customers virtually and reach a greater population of the world (including the unbanked). According to the Gallup World Poll Survey, 2.5 billion people (or half of the world's adults) do not have bank accounts or debit/credit cards to purchase items from online merchants. Therefore, SafetyPay has developed an innovative cash payment solution for online merchants and customers that is safe and easy to use.
The cash payment solution will be available to the United States, Brazil, Peru, the Caribbean, Russia and the CIS countries. In the US, customers simply shop from any SafetyPay affiliated merchant's online store, select the item or service of choice, complete the order by going to the nearest Walmart or CVS store to pay in cash, and the transaction is directly deposited in the merchant's bank account. SafetyPay has over 700,000 cash payment locations available worldwide.
"SafetyPay has pioneered the payments industry by introducing this cash payment platform for online merchants," said Sandra Feinberg, VP of Sales for SafetyPay. "Over the past four years, we have tested and proven our system in our Peruvian market that this option of selling to consumers is valuable and successful in enhancing the state of the economy. We are introducing online cash payments to the world, through our network of banks and payment centers worldwide."
SafetyPay is actively seeking merchants interested in allowing their customers to order goods online and pay for them with cash.