The FuturePay platform connects global merchants’ checkouts to multiple payment solutions, the companies said in a Monday (Feb. 2) blog post.
The addition of SafetyPay’s suite of local payment methods will tailor the platform for Latin America, according to the release.
The integration will enable merchants to offer customers in the region bank transfers supported by more than 175 banking partners across nine countries; SafetyPay’s eCash solution that lets consumers transact online while still paying in cash; and other local payment methods, including Pix for Brazil, the release said.
“PaySafe’s SafetyPay solution brings together trusted local payment methods across Latin America, enabling our merchants to enter the market with confidence and focus on growing their businesses, while relying on a payments infrastructure that is built for local consumers,” FuturePay Global Limited CEO Allen Cai said in the release.
Esteban Sarubbi, head of Latin America at Paysafe, said in the release: “With SafetyPay’s bank transfer, online cash and other local payment options specifically tailored to Latin American consumers, the partnership will enable FuturePay’s merchant customers to reduce friction at their checkouts, increase customer conversions and ultimately grow and future-proof their businesses.”
The PYMNTS Intelligence and Galileo Financial Technologies collaboration “Digital Payments Reshape Commerce Across Latin America” found that Latin America’s financial landscape is undergoing a digital transformation as digital payments rapidly displace traditional cash transactions.
The report found that Latin America has become a hot spot for innovation, with digital wallets, account-to-account (A2A) transfers and buy now, pay later (BNPL) solutions gaining significant traction.
Paysafe has announced some other collaborations in recent months.
In January, Pay.com expanded the number of options offered by its payment orchestration platform by adding Paysafe as a recommended acquirer for card transactions for online merchants.
In November, Paysafe launched a partnership with business technology firm Endava “to bring smarter payments and next-generation community engagement to market faster.”
In September, Paysafe launched a partnership with online trading and investment services provider CMC Markets to allow CMC to expand its range of payment options for traders.
