Digital payment platform SafetyPay announced Sept. 2 that is expanding its partnership with beauty and wellness product company Hinode Group, in a press release.
Partnering with SafetyPay will expand payment options for Hinode Group customers that do not have credit cards, or those wary of fraud, to conduct e-commerce transactions by allowing merchants to offer cash or bank transfer payment options.
"The influx of demand for online purchases during the COVID pandemic prompted millions of people in Latin America to transact online for the first time and prompted retailers to start or expand their use of alternative payments to ensure their products are accessible," Gustavo Ruiz Moya, CEO of SafetyPay, said. "Our previous work with the Hinode Group put them in a good position to increase their reach of cash payment options for online shoppers in additional countries. We are grateful to be able to help extend access to e-commerce for the millions of non-banked or fraud-weary people while providing a risk-free and better purchasing experience."
The expansion will bring SafetyPay's payment platform services to Chile, Colombia and Peru.
Latin America is currently the fastest-growing market for e-commerce with a 36.7% increase in sales in 2020.
SafetyPay is the largest payment network in Latin America and operates across 18 countries including locations in Europe and North America.