A recent international airline study showed that airline companies lost approximately $1.4 billion due to online payment fraud in the past year, as released by CyberSource, in association with Airline Information.  According to the study, "Airline Online Fraud Report: Online Payment Fraud Practices and Benchmarks," online sales for airlines participating in this study totaled $62 billion in 2012; total annual sales ranges from $500 million to $10 billion for each airline company.  

As a solution, airlines can use SafetyPay as a fraud-free online payment solution that will substantially reduce fraud within airline companies.  No registration or credit card information is collected, and funds are taken directly from consumers' online bank accounts.  No mess and no fuss!  It's that simple.  

SafetyPay has proven to take airline companies to new heights, as showcased in their case study with Peruvian Airlines.  SafetyPay offered Peruvian Airlines a solution that would allow their clients a convenient way to pay through SafetyPay's network of banks regardless of whether they bought tickets online or through the phone.  Airline customers could make payments through the Internet or directly at physical locations.  As a result, Peruvian Airlines increased daily ticket sales by 40% in the first few weeks and steadily rose by more than 110% over the following months.  Their call center experienced a 30% reduction in calls event with the increase in ticket sales volume due to the majority of problems resolved by SafetyPay.  To date, SafetyPay is the preferred method of payment in 95% of tickets sold by Peruvian Airlines.  To view the full case study, click here.

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About SafetyPay

SafetyPay is a global, safe and secure online payment solution that enables online banking customers to make internet purchases from merchants worldwide, and pay directly from their local bank account in their local currency.   SafetyPay also offers: business-to-business payments, call center payments, payouts, mobile, and walk-in cash payments. For more information, go to www.safetypay.com.

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.

For more information, visit www.safetypay.com.

As the mobile payment demand continues to rise internationally, so does the global value.  According to Telecoms, the global value of mobile payments is set to reach near $1 trillion worldwide by the year 2015.  The demand for such is determined by the growing enthusiasm for consumers to shop within platforms that are ever changing and up-to-date.  Today's consumer base relies heavily on convenience and the innovation of new applications that bring e-commerce within a hand's reach.  

This also brings up the topic of security.  Gerry Penfold, partner of KPMG Risk Consulting says, "there is certainly scope for collaboration between smart-phone manufacturers, telecom companies and retailers but the big, unanswered question revolves around who the customer will trust with their data and their mobile cash.  Battle lines will be drawn around issues such as security, infrastructure and interoperability of devices.  For consumers, speed and security of payment will be the mark of success."  Therefore, SafetyPay is the only secure solution that ensures no credit cards or financial information needed to make online payments.  

A study conducted by a merchant data security, SecurityMetrics, shows that 71% of merchants who entered the study were found to store unencrypted payment card data, an increase of 8% of last year.

Merchants who keep this unencrypted payment card data directly violare Payment Card Industry Data Security Standard (PCI DSS) requirements and can have consequences of fines and penalties afetr a compromise. The unprocted data indicates many factors, including improperly designed or confirgured payment application, a non-PCI-compliant payment application or improper card handling by employees.

All together, the sudy found over 370 millio unencrypted cards on various-sized business and home networks, with one network scanning over 96 million payment cards. This study concluded that card discovery and deletion must be performed as a regular business operation to impact security.

"Today's business landscape is littered with merchants that don't know exactly what's on their system," said SecurityMetrics Director of Forensic Investigations, David Ellis. "In the majority of cases we've investigated, the merchant was unaware their system was storing unencrypted payment card data. Merchants must take responsibility for their customers' card data, which in turn will benefit worldwide commerce in general."

Read more here http://www.prnewswire.com/news-releases/study-finds-8-percent-increase-of-une...

This is what the survey shows:

55% are worried about receiving junk mail

54% that their personal information will be sold on to other merchants

51% that their data will be intercepted. 

SafetyPay actually resolves all these issues, and more. SafetyPay is an alternative payment solution that enables online banking customers make internet purchases directly through their bank account and even in their local currency.

SafetyPay never asks for your personal information, never asks you to register and best thing about using it is that the online store never collects your sensitive financial data.

If you're one of the many Americans who are aware of the issues that are present when shopping online, check out SafetyPay and get to a safer solution.

www.safetypay.com/us

Read More: http://www.finextra.com/News/Fullstory.aspx?newsitemid=23252

By utilizing UATP's existing airline connections, this secure form of payment will be easily integrated by the airlines, offering another payment option for customers purchasing airline tickets.  In response to the increasing need of alternative payment options for airline tickets, SafetyPay has tapped into the market by offering a secure payment method for consumers. 

According to a recent case study with Peruvian Airlines, SafetyPay offered a solution that allowed their clients a convenient way to pay through SafetyPay's network of banks regardless of whether they bought tickets online or through the phone.  The results were a 40 percent increase in daily ticket sales within the first few weeks; a 110 percent increase over the following months; and a 30 percent reduction in call center issues.  SafetyPay is now the preferred method of payment in 95 percent of tickets sold by Peruvian Airlines.

"As we expand our global presence to the U.S. market, SafetyPay is able to offer a quick and convenient way for consumers to pay for airline and travel tickets by paying in their local currency from their bank account," said Manuel Montero , CEO of SafetyPay.  

SafetyPay enables gaming merchants to accept and approve payments for the digital content purchased by gamers. SafetyPay is an online payment solution that enables online banking customers to make internet purchases from merchants worldwide and pay directly from their local bank account in their local currency.

In recent and related news, SafetyPay has joined forces with HSBC Bank Brazil to extend SafetyPay’s online payment services to the bank’s account holders and small and medium sized business customers, enabling them to pay online for purchases with worldwide merchants using their own currency.

SafetyPay's latest partnerships with Banrisul and Brazil's 6th largest bank, HSBC bank ($75 billion in assets), has positioned the secure payment facilitator as a leader in the Brazilian payments industry.  For more information about SafetyPay, visit www.safetypay.com.

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.“