SafetyPay Partners with Brazilian Bank for Online Payment

Jan. 13, 2011

SafetyPay, an online payment facilitator and clearinghouse, recently announced a partnership with Brazil-based financial institution Banrisul. The companies said the agreement will provide the bank’s three million customers with access to exclusive promotions and the ability to pay with their own currency when shopping with worldwide merchants online. “Our partnership with Banrisul will enable its customers to more securely conduct local and cross-border transactions,” said Manuel Montero, founder and chief executive officer of SafetyPay. “Many merchants in Latin America have fraud filters in place that prevent credit card payments. As a result, credit card penetration in Brazil is quite low. Our solution provides Banrisul’s customers with an alternate and secure payment method that improves their online shopping experience.” To date, SafetyPay has partnered and integrated with 23 financial institutions worldwide, with a combined customer base of 90 million.