Friday, 9 March 2012

ZipZap Selected As SafetyPay's Preferred Cash Payment Option For All Global Merchants

ZipZap, Inc., the leading global cash transaction network, and SafetyPay, a secure payment provider serving online shoppers, merchants and banks worldwide, today announced that ZipZap's CashPay solution has been selected by SafetyPay as their preferred cash payment option for eCommerce merchants across all channels.

ZipZap's CashPay solution, which enables consumers to make purchases online and pay cash offline in their local neighborhood through a global network of over 700,000 payment centers, will provide SafetyPay with access to the hundreds of millions of cash-preferred consumers worldwide.

Currently World Bank estimates that over 50% of the global population does not have access to banking or credit, while Javelin Research estimates that 30% of consumers will spend more online if they can pay with cash. This new partnership between SafetyPay and ZipZap will provide this growing market segment with secure and convenient payment solution for online transactions.

"We are delighted to partner with SafetyPay and enable their merchants to reach this untapped consumer demographic." stated Alan Safahi, Founder and CEO of ZipZap.

While SafetyPay plans to offer this new payment option to all merchant partners, one of the key industries targeted for implementation will be travel.

SafteyPay's travel industry merchant partners will now have the ability to add an entirely new revenue stream free of chargeback and fraud risk, while giving cash-preferred consumers a secure, convenient and risk-free way to purchase online travel services - something not currently available to them today.

In markets where international credit card penetration is low, local payment options like cash are essential. Not only do they add to consumer convenience, but also potentially increase consumer adoption - statistics show that 52% of customers using cash vouchers for online payment were new customers to the airline. According to Javelin Research (July 2009 Online Spending Research Index) consumers would spend 30% more online if they were able to pay in cash.

"As the emerging leader in secure payments for the airline and travel industry, SafetyPay's decision to partner with ZipZap will perfectly position them to offer cash-preferred consumers worldwide the ability to pay for airline and travel tickets in cash,- something this consumer segment has traditionally not been able to do" added Safahi.

"We are very excited to partner with ZipZap and add CashPay to our payment options for millions of consumers who wish to shop online and book airline and travel tickets with cash in local currency" said Manuel Montero , CEO of SafetyPay.

About ZipZap, Inc.
ZipZap, Inc. is the leading global cash transaction network enabling consumers to use cash to make online purchases, pay bills, and top-up eWallets, prepaid cards and mobile accounts. Through a global network of over 700,000 payment centers, consumers can complete transactions in their neighborhood conveniently and easily using local currency. As an alternative payments provider, ZipZap is redefining the payment experience for more than one billion cash-preferred consumers worldwide.

Founded in 2010, ZipZap is headquartered in San Francisco, California, with operations around the globe.

About SafetyPay
SafetyPay is a global, safe and secure online payment solution that enables online banking customers to make internet purchases from merchants worldwide, and pay directly from their local bank account in their local currency. SafetyPay provides banks with an additional revenue stream and expands their merchants' customer base with an international reach of more than 200 million potential banking customers. SafetyPay also is available through mobile devices and specializes in such key industries as travel and online gaming.

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