ZipZap Inc. and SafetyPay have formed a partnership designed to help more underbanked consumers to make purchases online, the companies announced March 7.
ZipZap operates a cash-transaction network, and SafetyPay is a secure payment provider serving online shoppers, merchants and banks worldwide. Under their arrangement, SafetyPay will use ZipZap’s CashPay product as its preferred cash-payment option for online merchants, the companies noted in a press release.
CashPay lets consumers make purchases online and pay cash offline in their local neighborhood through a global network of more than 700,000 payment centers. CashPay will give SafetyPay access to the hundreds of millions of cash-preferred consumers worldwide, according to the release.
The World Bank estimates that more than 50% of the global population does not have access to banking or credit, while Javelin Research estimates that 30% of consumers would spend more online if they could pay with cash, the companies noted in their release.
Though SafetyPay is offering CashPay to all merchant partners, the travel industry is a priority. SafetyPay’s travel industry merchant partners now have the ability to add new revenue free of charge-back and fraud risk, and give cash-preferred consumers a secure, convenient and risk-free way to purchase online travel services, the release notes.
In January, ZipZap announced a partnership with online game payment service provider Xsolla (see story).
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