Paysafe, the global payments platform, has partnered with cross-border solution provider FuturePay to support its expansion into the Latin American market.
The collaboration sees FuturePay integrating Paysafe’s SafetyPay solution. This integration will allow merchants using FuturePay’s platform to offer a suite of local payment methods (LPMs) essential for converting customers in the region, including bank transfers, online cash, and Brazil’s popular instant payment system, Pix.
Tailored for the unbanked and cash-preferred
The move is designed to address specific consumer behaviours in Latin America, where credit card penetration remains lower than in other markets. Approximately 42 per cent of consumers in the region do not possess a credit card, making alternative payment options critical for e-commerce growth.
Through the integration, FuturePay merchants can now accept bank transfers supported by over 175 banking partners across nine countries. Additionally, the partnership leverages SafetyPay’s eCash solution, catering to the region’s enduring cash culture. This feature allows customers to initiate a transaction online and complete the payment in cash at more than 390,000 in-store collection points across Latin America.
Esteban Sarubbi, head of Latin America at Paysafe, commented: “We’re delighted to support FuturePay’s entry into Latin America, where our SafetyPay solution is renowned as the region’s largest alternative and local payment method network. With SafetyPay’s bank transfer, online cash and other local payment options specifically tailored to Latin American consumers, the partnership will enable FuturePay’s merchant customers to reduce friction at their checkouts, increase customer conversions and ultimately grow and future-proof their businesses.”
Expanding the payment mix
In addition to bank transfers and cash, the partnership unlocks access to other key LPMs, such as the PagoEfectivo digital wallet in Peru and Boleto Bancario in Brazil.
For FuturePay, a Hong Kong-headquartered fintech established in 2016, the deal represents a significant milestone in its global strategy. The company’s platform connects global merchants to multiple payment solutions through a single integration, now bolstered by Paysafe’s deep regional infrastructure.
Allen Cai, CEO of FuturePay Global Limited, added: “Our partnership with Paysafe marks an important milestone in FuturePay’s expansion into Latin America. To enter the region, it was critical for us to work with a partner that combined strong local payment coverage with deep market expertise… enabling our merchants to enter the market with confidence and focus on growing their businesses, while relying on a payments infrastructure that is built for local consumers.”
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