SafetyPay teams up with Feedzai to protect customers from fraud with AI

SafetyPay’s platform allows non-card holders and fraud-wary consumers to participate in the online marketplace via bank transfer or cash without sharing their information online. The platform opens the door for ecommerce merchants to tap into a larger consumer base by accepting alternative forms of payment. Meanwhile, Feedzai monitors patterns in payment transaction activity and compares against a customer’s historical data to authenticate transactions.

The partnership marks an initial 5-year agreement with Feedzai and the first stage of the partnership will be rolled out in 2020 with Feedzai monitoring SafetyPay transactions in Brazil, Mexico, Peru and Spain, with the possibility to expand to other markets as SafetyPay scales. SafetyPay currently partners with 380 banks in 16 countries worldwide, across Latin America, Europe and North America.