SafetyPay Joins Alpha Payments Cloud ‘Hub’
July 7, 2014
Alpha Payments Cloud, a Dublin, Ireland-based company that connects acquirers, merchants and technology providers in one place where they can buy and sell the payments services needed by the entire ecosystem, has added SafetyPay to its roster of providers. SafetyPay, based in Miami, enables merchants to offer consumers in other countries the option to pay for online goods directly from their bank account in their local currency. Under the agreement, SafetyPay’s alternative payment methods will be offered to customers of international banks and merchants connected through the APC Payment Hub. SafetyPay’s focus on Latin America will be attractive to merchants hoping to expand into lucrative new markets, according to Rónán Gallagher, head of product with Alpha Payments Cloud.
“The growth of e-commerce in the developed world has generally been spearheaded by the affluent, armed with credit cards and high-speed Internet access,” said Gallagher. “Parts of Latin America have bucked this trend with online shoppers in countries such as Brazil being more likely to belong to the middle or low-income bracket. Much of this is due to the youthful populations of the emerging economies; almost half of Colombia’s population is aged between 15 and 24. With card penetration remaining relatively low in the emerging economies, in particular within Latin America, reaching these consumers through alternative means of payment is key for e-commerce growth in these regions.”