How they describe themselves: 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 through their local bank account in their local currency. SafetyPay was developed in response to the growing need for a safe and secure online payment method, which also could be used internationally. It is an innovative, patent-pending e-payment process that operates as a clearing house; adding value to all participating parties – banks, merchants and consumers. SafetyPay eliminates fraud and identity theft risk for merchants and consumers, expands merchant’s customer base with an international reach of more than millions of potential banking customers and provides banks an additional revenue stream and cross promotional opportunities.
What they think makes them better: Unique from other methods of online payments,
SafetyPay: (1) shares revenue with bank partners, (2) requires no enrollment or registration, (3) discloses no confidential or financial information, (4) guarantees no fraud, (5) allows users to shop globally and pay via their local bank in local currency, (6) ensures all transactions are completed from the personal online banking environment and are not redirected to the merchant site, and (7) enables merchants to receive payments in their currency of choice even if a user pays in a different currency.