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Frequently Asked Questions

SafetyPayMerchantFrequently Asked Questions

Shoppers Frequently Asked Questions

How do I start using SafetyPay?

If you are an online banking customer and your bank accepts SafetyPay, then you are eligible to begin using our service. For a list of participating banks, go to ‘banks” on menu.

How many merchants offer SafetyPay?

Thousands of merchants offer the secure SafetyPay online payment option worldwide, including airlines, entertainment, online games, digital media, electronics, gifts, food service and more.

The online store where I want to shop is located in a foreign country. Can I still pay in my local currency?

Yes, as long as the online store offers SafetyPay, you can shop around the world and still pay in your local currency. SafetyPay will provide you with an exact currency quote thus avoiding exchange rate uncertainty, so you will always know how much you are spending in your local currency before processing your payment.

How secure are the SafetyPay transactions?

SafetyPay was designed for online payments and has the most secure and robust platform for this purpose.

When paying with SafetyPay, do I have to give any financial information to the merchant?

No, all sensitive data will be shared only between you and your bank. No financial information needs to be given to the merchant or SafetyPay.

Do I have to pay a fee for using SafetyPay?

No, SafetyPay is absolutely free for online shoppers; however, when purchasing from an overseas merchant and paying in your local currency, you will be shown the total currency equivalent of your purchase which includes a foreign exchange fee.

Do I have to sign up or open an account to use SafetyPay?

No, unlike other payment services, you don’t have to open a special SafetyPay account to use our payment system.

What if I lose the transaction information?

Don’t worry, the merchant will send you an email confirmation of every transaction, containing the currency quote, the transaction ID, and specifying when the pending transaction will expire if a cash payment.

What if my bank doesn’t offer SafetyPay yet?

If your bank does not offer SafetyPay, let us know – and let your bank know. We will contact them and explain the benefits of signing up with SafetyPay.

Merchants Frequently Asked Questions

How long does the implementation of the SafetyPay system take?

The integration can take as little as a couple of hours up to a few days, depending on what level of automation you want. We’ll provide you the resources necessary to accomplish it in the shortest time.

How secure are the SafetyPay transactions?

SafetyPay was designed for online payments and has the most secure and robust platform for this purpose.

Can I receive unauthorized payments?

SafetyPay was designed for online payments and has the most secure and robust platform for this purpose.

How secure are the SafetyPay transactions?

SafetyPay was designed for online payments and has the most secure and robust platform for this purpose.

Does SafetyPay store any financial information?

No, according to our security policy SafetyPay does not store any financial information related to bank customer’s transactions. In addition, we provide strong encryption in our online communications with financial institutions and E-Commerce merchants.

Why should a bank sign up with SafetyPay?

SafetyPay offers the only fraud-free online payment system that allows people without credit cards or who are uncomfortable sharing their personal financial information to make online transactions. This includes international customers whose cards are not accepted when buying from merchants outside their country of residence. Also, banks enjoy additional revenue on these transactions without making new investments or having to provide added customer service.

What are the advantages for a bank when offering SafetyPay?

Banks can enhance their relationship with existing and prospective customers by providing an additional fraud protection service, and by offering a fast and easy payment option in their local currency when shopping at national and international online merchants. Banks will gain additional revenue as customers generate new transactions. And they will profit from the additional usage of their customer’s high margin line of credit to complete transactions.

Does SafetyPay help the bank to gain additional revenue?

Yes, SafetyPay supports participating online merchants that wish to inform bank customers about special product offerings via email to increase the bank customer’s awareness of certain items they might want to buy, leading to additional revenues for the bank. SafetyPay shares its discount revenue from merchants with its bank partners. Banks also can earn new revenues through transaction fees and interest on lines of credit.

Do banks save on costs when signing up with SafetyPay in comparison to credit cards?

Yes, the cost structure of the SafetyPay system is much more profitable to banks, because there are no payments to Associations (or SafetyPay), no costs for credit and collection, no fraud provision to be paid, no interest on negative float and no costs for new account acquisition.

Interested in becoming a SafetyPay merchant?

Apply now