Tapping into the 2.5 billion unbanked market
Online payment provider SafetyPay is rolling out a global cash payment platform that enables merchants to accept online payments in cash from US and international customers (view press release). The solution is designed to tap into the global unbanked market which, according to Gallup World Poll Survey, accounts for 2.5 billion people, around half of the world’s adults. The service works at affiliated e-tailers in the US with the customer making the order online and then heading to the nearest Walmart or CVS store to pay in cash. The funds are then deposited directly into the merchant’s account.
“Over the past four years, we have tested and proven our system in our Peruvian market that this option of selling to consumers is valuable and successful in enhancing the state of the economy,” said SafetyPay VP of Sales, Sandra Feinberg.
The solution is being rolled out in the US, Brazil, Peru, the Caribbean, Russia and the CIS and SafetyPay has around 700,000 cash payment locations worldwide.
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