(Official Press Release)
SAF-T-PAY Announces the Global Launch of its Innovative, Secure e-Payment System with BBVA Banco Continental
* SAF-T-PAY has signed a strategic agreement to introduce its secure payment system to BBVA Banco Continental’s customers in Peru.
* With this agreement, BBVA Banco Continental strengthens its online banking offering, providing enhanced security and improved customer service.
* The potential e-commerce market extends to over 65 million internet users in Latin America alone.
March 27, 2007 – SAF-T-PAY has signed an agreement with BBVA Banco Continental and is announcing the launch of their innovative, secure e-payment solution in Peru.
By accessing BBVA Banco Continental’s online portal and using SAF-T-Pay’s secure payment system, customers will be able to purchase items from top Peruvian and international e-retailers and pay for their purchases in local currency through their local bank.
Unlike other payment methods, SAF-T-PAY does not require users to disclose any personal financial information, thereby eliminating potential risk of identity fraud.
“For the 4.5 million Peruvians with internet access, SAF-T-PAY provides an innovative, simple, and secure way to make purchases from e-businesses located in Peru and around the world without having to provide any personal financial information,” said Roberto Carrillo A, General Manager of SAF-T-PAY for Latin America. “Through this agreement with BBVA we will facilitate the growth of international e-commerce in Latin America.” added Carrillo.
“This alliance with SAF-T-PAY will enable us to further reinforce our leadership as a global provider of online banking services,” said BBVA Banco Continental EVP Head of Retail Banking Jose Luis Casabonne. He further emphasized “We can now offer the most innovative and secure online banking products to millions of Peruvians.”
There are more than 65 million internet users in Latin America’s nine largest markets, and e-commerce is expected to reach US $40 billion in 2011, a 25% yearly. New free trade agreements with the U.S. and the European Union are expected to boost this trend even more.
How does SAF-T-PAY work?
Step 1. Customer places an order with an affiliated merchant, chooses SAF-T-PAY as the payment method as well as the currency the buyer wishes to pay in. SAF-T-PAY provides the customer with a transaction number. The information appears real-time on the screen and is also sent to the client by e-mail.
Step 2. Client signs on to BBVA Banco Continental’s secure online banking portal and authorizes the payment. Merchant fulfills the order and sends shipping confirmation to the customer.
SAF-T-PAY – The Safe Internet Payment System – is a secure e-payment system that allows online bank customers to make online purchases worldwide directly through their local bank. SAF-T-PAY specifically targets three core untapped e-commerce market segments:
* Shoppers unwilling to use traditional payment methods for online transactions due to fear of identity theft or fraud
* Online banking customers – approximately 60% of the total universe – without a credit cards but that do have the financial means to shop online
* Millions of overseas banking customers without a US issued credit card who wish to shop online with US merchants
More information on the company can be found at: www.saftpay.com
About BBVA Banco Continental
BBVA Banco Continental is Peru’s second largest commercial bank. It has 219 branches and 356 ATMs, and more than 2,700 employees. In 2006, the bank received the BBB investment rating for long-term local currency obligations, making it the only bank in Peru to achieve this ranking.
BBVA Banco Continental Internet banking: www.bbvabancocontinental.com
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