The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Partnership delivers access to 5,000 U.S. merchants.
Miami Beach, Fla., Feb. 1, 2011 - SafetyPay™, a secure payment facilitator and clearinghouse benefiting online shoppers, online merchants and banks worldwide announced its partnership with Carrollton, Texas-based payment services provider, JetPay.
Founded in 1990, JetPay processes more than 20 billion in transactions domestically with a rapidly growing international group of merchants, to which they offer payment services and features, including batch processing, high-speed authorization, check guarantee and check conversion, split automated clearinghouse transactions, fraud protection and 24-hour customer service. The company’s services can be developed and executed according to the specific needs of each individual merchant.
“According to comScore, U.S. online sales are up 12 percent to $27.5 billion so far this holiday shopping season compared with a year ago,” said Manuel Montero, founder and chief executive officer of SafetyPay. “As SafetyPay looks to expand our reach within the U.S. market, JetPay’s established presence will enable us to roll out our payment solution to their existing merchant base.”
“Access to a superior suite of alternative payment options is very important to our merchant base,” said Coy Lynch, vice president at JetPay. “JetPay is expanding rapidly in the U.S. as well as the European, Asian, Australian and Latin American markets. With the addition of SafetyPay, we have a risk-free, worldwide payment platform that provides additional value and compliments our product offering.”
To date, SafetyPay has partnered and integrated with 23 financial institutions and 2,000 merchants worldwide (with a combined customer base of 90 million).
About Jet Pay
JetPay, LLC is a payment processing company comprised of industry specialists fully conversant in POS and order-entry software applications, systems integration, data networking, and communications technologies. Developer and manager of its own UNIX-based platform, JetPay™ provides credit card authorization, capture, and a full menu of related services designed to handle payment processing of Enterprise, Retail/MOTO and eCommerce clients. For more information, contact JetPay at www.JetPay.com or 800-834-4405.
SafetyPay™ is a safe and secure e-payment solution that enables online banking customers to make Internet purchases from merchants worldwide and pay directly through their bank account. Customers are never required to disclose any financial information to the merchants or to SafetyPay, and all payment transactions are done from within the bank’s online environment.