Investment into a payment system working as a firewall

$6 million investment in Series "A" was made into SAFTPAY Inc., a secure global payment system designed to eliminate fraud and safeguard consumer financial information in online transactions. The funding was secured from Espirito Santo Ventures (ESV), a venture-capital subsidiary of the Lisbon, Portugal-based international banking giant Banco Espirito Santo.

SAFTPAY is an effective weapon to guard against the ongoing threat of online fraud as it exposes no customer financial data while handling payments of an online customer's purchase of goods or services and moreover SAFTPAY itself possess no clients' sensitive personal financial information. The consumer and the consumer's bank are the only parts aware of the transaction and source of payment.

Banks offer the SAFTPAY system to their customers through subscription agreements as an additional service. Online merchants subscribe to the SAFTPAY network the same way. Thus SAFTPAY operates as an online firewall to protect consumers and their bank accounts while facilitating the same consumers' payments to online merchants worldwide in the merchants' local currency.

"Obviously, we were very impressed with SAFTPAY's business model of allowing customers worldwide the opportunity to buy from any online merchant worldwide and paying in local currency through their banks within a totally secure environment. It has all the ingredients for success, particularly due to the experienced, proven and determined management team. This combination of factors was primary in our decision to invest in SAFTPAY," says ESV CEO, Joaquim Servulo Rodrigues.