SafetyPay, the leading digital alternative payment platforms providing solutions across Latin America and Europe,announces an expansion of its partnership with the Hinode Group, a multi-level marketing company specializing in beauty & wellness products. The new agreement will provide processing and alternative methods of online payments to consumers in three additional Latin American countries: Chile, Colombia and Peru. Hinode has been a SafetyPay partner since the initial partnership was established in 2018 to serve customers in Ecuador.
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SafetyPay’s platform allows non-card holders and fraud-wary consumers to participate in e-commerce by providing merchants the ability to offer a cash or bank transfer payment options for online purchases. Additionally, the transactions are more efficient and risk-free, as it does not require purchasers to enter or share of any personal information such as login information and account numbers.
The impressive growth of e-commerce Latin America combined with the region’s high rate of un- and under-banked people – estimated at 34 million – has further propelled merchant and consumer demand for alternative payment solutions. Latin America is now the fastest-growing region for retail e-commerce, with 36.7% in sales growth reported last year compared to the worldwide average of 27.6%.
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“The influx of demand for online purchases during the Covid pandemic prompted millions of people in Latin America to transact online for the first time and prompted retailers to start or expand their use of alternative payments to ensure their products are accessible,” said Gustavo Ruiz Moya, CEO, SafetyPay. “Our previous work with the Hinode Group put them in a good position to increase their reach of cash payment options for online shoppers in additional countries. We are grateful to be able to help extend access to e-commerce for the millions of non-banked or fraud-weary people while providing a risk-free and better purchasing experience.”
SafetyPay operates in 18 countries across Latin America, Europe and North America, and has the largest payment network in Latin America, integrated by over 90% of the banks’ coverage.
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