Contxto – Just after wrapping up a funding round that exceeded US$300 million, the Colombian delivery unicorn, Rappi, has now joined forces with the payment platform SafetyPay.
Together they want to streamline the company’s cash solutions and financial reconciliations, meaning the money leaving an account matches the amount spent.
Since Rappi has evolved from delivery hero to product distribution and information technology guru, the decision to improve the Colombian startup’s cash solutions and reconciliations with SafetyPay boils down to the push for improved customer relations.
This is what Rappi seeks in new partnerships, said Laura Stephanie Ochoa Arias, Payment Manager Latam:
“One of our highest priorities when establishing a new partnership is ensuring an optimal level of customer service while having the traceability of information and perfect reconciliations between the actors involved.”
Ochoa Arias stresses the peace of mind that comes with this new deal to strengthen Rappi’s customer service.
Like Rappi, SafetyPay is also of Colombian origin but is currently headquartered in Aventura, Florida.
Rappi, the non-card payment system
The technology behind SafetyPay allows users who don’t have cards, and consumers who are worried about fraud, to take part in the digital marketplace through cash payments and bank transfer for cross-border transactions.
To accomplish this, SafetyPay develops cash solutions for banks, retail stores, and other companies to utilize in procuring more clients. According to the announcement, the platform paves the way for e-commerce merchants to reach a wider array of customers by accepting these alternative payment methods.
Consumers without credit or debit cards can use SafetyPlan’s platform to facilitate their online purchases. In turn, online retailers are able to reach more consumers and make international transactions.
So far, this new effort premiered in Brazil, Mexico, and Ecuador with other markets such as Costa Rica, Peru, as well as Chile, reportedly to follow this year.
More about SafetyPay
SafetyPay is an alternative payment platform operating across Latin America, Europe, and North America bringing consumers closer to the digital market.
That’s to say, the startup caters to non-cardholders and those concerned about online security by providing them with the means to securely participate in digital markets by using cash or bank transfer.
These alternative payment forms don’t require people to share personal information online (that decreases the likelihood of fraud) while e-commerce merchants gain a larger scope for potential customers.
Moral of the story: both consumers and retailers are presented with various payment options when working with SafetyPay. Not only does heightened security lay at the center of this collaboration but also integral to SafetyPay’s mission, according to CEO Gustavo Ruiz Moya.
“Our partnership with Rappi advances SafetyPay’s commitment and responsibility of safe and trustworthy banking for consumers worldwide.”
Ever since it launched in 2015 in Distrito Especial, Colombia, SafetyPay has partnered with 380 banks in 17 countries. Nowadays the company is headquartered in Florida with additional spaces in Brazil and Peru, operating in seven other Latin American countries.
SafetyPay reportedly handles the most expansive network of banks and cash collection points in Latin America with over 380 banking partners on top of 180,000 collection points.