SafetyPay extends its service in Latin America thanks to $7 million from IFC

SafetyPay’s E-commerce payment solutions will become more widely accessible and financially viable for Latin American consumers owing to IFC’s significant investment

SafetyPay is known for its payment solution in the US, Canada, Europe and Latin America, places from where online shoppers (shopping with SafetyPay’s associated merchants) can make Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term using localized currencies from their existing bank accounts, without needing credit cards.

The company boasts low transaction rates for merchants and aims to extend its presence further into Latin America with the aid of IFC (World Bank Group member, focused on financing for the growth of developing countries).

Despite its existing partnerships with Latin American banks and companies, such as Despegar, Groupon, Peruvian Airlines and Volaris Airlines, who are already on its books, SafetyPay aims to continue growing and according to Kent Lupberger, IFC Global Head of Telecommunications, Media, and Technology: “SafetyPay is playing an important role in giving more people access to online commerce, and we look forward to supporting their continued growth.”