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SafetyPay Inc. new article content ... SafetyPay Inc. is an e-commerce business allowing payments to be made through the internet. It functions as a clearing house between banks, merchants and shoppers. SafetyPay performs payment processing for electronic retailers, brick and mortar business and also make online money transfers. For every transaction it charges preaccepted fee. The company was founded in 2003 by a group of former American Express executives led by Manuel and Barbara Montero. Its corporate headquarters are in Miami, Florida and it has offices in South and Central America and in Europe. SafetyPay Inc. started in South America, which is an interesting fact taking into consideration the low e-commerce transactions rate relative to the population in this continent. The company made contracts with some of the most dominant banks in Latin America such as Banrisul (largest bank in South Brazil) and Interbank (Peru). The early success in South America served as a steppingstone for the company to enter the European market. The admission to the European market followed some legislative obstacles but SafetyPay made it through contracts with big banks in Europe as well such as HSBC, Banco Santander in Spain, BAWAG P.S.K (fourth largest in Austria). Recently, the Miami based corporation entered the US market. The US market is known for being the biggest and most desirable market for e-commerce businesses, but so as the competition. As for now, PayPal is the strongest player in the industry whereas recent entries by Google and Amazon make it interesting to see how SafetyPay is going to expand in the US.
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