Global development institution IFC announced a $7 million investment in Florida-based secure payment system SafetyPay on July 10, the organization announced in a press release. SafetyPay allows consumers who don’t have credit cards to purchase online with their bank accounts.
“With the financial support of investors such as IFC, we are continuing our aggressive growth strategy to partner with banks and companies to give more consumers in Latin America access to our services,” SafetyPay CEO Manuel Montero said in a release.
SafeyPay is currently offerings its services in Brazil, Columbia, Costa Rica and Mexico.
Read the full press release here.