JetPay, SafetyPay Announce Partnership Deal

SafetyPay Inc. will provide JetPay LLC with a worldwide payment platform that provides additional value and access to a suite of alternative payment options, Coy Lynch, JetPay vice president, noted in Feb. 1 press release announcing the companies’ partnership.

JetPay processes more than $20 billion in transactions domestically with a rapidly growing international group of merchants. The Carrollton, Texas-based payment-services provider’s offerings include batch processing, high-speed authorization, check guarantee and check conversion, split automated clearinghouse transactions, fraud protection and 24-hour customer service.

The company is expanding rapidly in the U.S. and in the European, Asian, Australian and Latin American markets, Lynch noted in the release. It became the first e-commerce processor to join the Secure Vault Payments network along with its client, Apple Vacations, in November (see story). JetPay also is one of the few merchant-services providers to publicly promote itself as a supporter of PaySecure, Acculynk Inc.’s service that supports PIN-debit purchases online (see story).

SafetyPay provides a secure payment facilitator and clearinghouse for online shoppers, online merchants and banks worldwide. It enables online banking customers to make Internet purchases from merchants worldwide and pay directly through their bank account. Customers are never required to disclose any financial information to the merchants or to SafetyPay, and all payment transactions are done from within the bank’s online environment.

“As SafetyPay looks to expand our reach within the U.S. market, JetPay’s established presence will enable us to roll out our payment [service] to their existing merchant base,” Manuel Montero, SafetyPay founder and CEO, said in a press release.

To date, the Miami Beach, Fla.-based company has partnered and integrated with 23 financial institutions and 2,000 merchants worldwide with a combined customer base of 90 million, according to the release.

In January, SafetyPay signed a partnership deal with the Brazil-based bank Banrisul to enable the bank’s 3 million customers to use its platform to make online purchases from international merchants (see story).

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