SafetyPay is pleased to announce that it has secured its first patent for intellectual property protection from the US Patent and Trademark Office. The patent relates to electronic payment and financial clearinghouse services allowing individual and corporation shoppers to make online purchases directly through their own online bank account. The patent wording more specifically reads:
Electronic bill payment services provided by means of the global information network; financial services in the nature of a payment system for businesses and consumers for the purchase of goods and services, namely, a financial clearing house between financial institutions and merchants; financial clearinghouse between corporations; merchant credit card processing services; money transfer services, electronic funds transfer services, and bill payment services; clearing and reconciling financial transactions for others, namely, payments clearinghouse allowing individual and corporation shoppers to make online purchases directly through their local bank.
“We submitted the application in 2006 and finally after all this time and effort, we have been awarded this patent which covers all countries around the world,” stated Manuel Montero, CEO. “It was definitely worth the wait because not only does it help to protect our intellectual property, but also it bolsters SafetyPay’s credibility and legitimacy in the marketplace,” he added.
Failsafe Payments has announced that SafetyPay, a service that enables shoppers to pay for online purchases directly via their own bank account and in local currency, is now fully integrated with Failsafe Payments alternative payments service, CertoConnect.
CertoConnect is designed for merchants to extend the possibilities to easily accept alternative payments online using established local and international payment systems. CertoConnect is integrated with major local and international alternative payment brands and payment gateways.
SafetyPay™, a secure payment provider serving online shoppers, merchants and banks worldwide, will allow CertoConnect merchants to enable and activate SafetyPay as an online payment option for their goods or services. Existing SafetyPay merchants can now use CertoConnect to explore other alternative payment methods and let CertoConnect consolidate all payment methods into a single and secure payment page.
Sandra Feinberg VP of Sales for SafetyPay added, “ With this co-operative venture, both companies will reap huge benefits. In today’s competitive marketplace, businesses need to have a global web presence – but it can be expensive and risky to expand into new markets. Real time bank payments minimize the risk and now SafetyPay merchants now have the opportunity to greatly expand their current market reach, with minimal risk, very quickly together with CertoConnect. This is a win-win deal for everyone involved.“
As consumers replace cash, checks and credit cards with online and mobile banking, financial institutions need to alter services and offerings to keep up with consumer demand for convenience and security. New regulations preventing fee increases require banks to find alternative income sources, and SafetyPay’s white paper illustrates the ability of banks to use innovative technology to generate revenue and deliver considerable benefits to customers.
SafetyPay’s white paper looks at the benefits of new innovative payment methods and their ability to serve as an additional revenue generator for banks. The credit card has been the predominant online payment method, however, credit cards were not invented with the Internet in mind. As ecommerce has grown, their inherent deficiencies have become more apparent – increased risk of fraud and high costs for merchants to process. Because of this, inroads have been made by new payment methods as consumers recognize their convenience and security. In fact, by 2012, new payments are projected to reach 30 percent of online payments. Financial institutions providing online payment alternatives promote greater customer loyalty and satisfaction.
“Online banking makes international e-commerce a simple and safe process for merchants and consumers alike, and banks offering modern payment options are successfully attracting and retaining customers,” said Manuel Montero, CEO of SafetyPay. “At SafetyPay, our objective is to share the immense benefits online banking channels offer. We enable financial institutions, large and small, to enlist contemporary banking methods to generate revenue and provide a fraud proof payment solution to consumers and online retailers.”
To download the full white paper, please click here
SafetyPay, the safe Internet payment solution, was selected to showcase its proprietary product at FinovateSpring 2010 on May 11th in San Francisco. FinovateSpring 2010 showcased the most cutting-edge financial and banking technology innovations to Silicon Valley and the world. With Finovate’s signature mix of short, fast-paced onstage demos (no slides allowed) from handpicked companies and intimate networking time with their executives, this conference packs a ton of unique value into a single day.
The following video showcases SafetyPay’s onstage demo at FinovateSpring 2010:
SafetyPay is a global, safe and secure e-payment solution that enables online banking customers to shop from merchants worldwide and pay directly through their online bank account in local currency. Customers are never required to disclose any personal financial information neither to the merchants nor to SafetyPay, and all payment transactions are done securely from within the bank’s online environment.
Finovate events are the first demonstration-based conferences for the financial and banking technology industries. With annual conferences each spring in San Francisco and each fall in New York, the Finovate Series offers a chance for leading industry professionals to explore the future of finance in a fast-paced and unique environment.
SafetyPay has been selected to be featured at IRCE June 8-11, 2010. Known as the world’s largest e-commerce event, Internet Retailer Conference & Exhibition (IRCE) showcases every key industry that specializes in e-retailing. This year’s conference will be held in Chicago, Illinois in a 170,000-square-foot Exhibition Hall. Over 6,000 attendees are expected to partake in this extravagent event, as well as 175 expert speaker and 407 exhibiting companies. IRCE displays the largest demonstration of e-commerce technology in the world.
SafetyPay – The Safe Internet Payment Solution at IRCE June 8-11, 2010. Please contact firstname.lastname@example.org to schedule a meeting. See you there!