ProPay® Announces ProFac Expresssm for Payment Facilitators
March 31 2015 - 8:00AM
Business Wire
ProPay uniquely positioned to offer hassle free
aggregation and processing services to payment facilitators
ProPay®, a TSYS® company, announced today that it is launching
ProFac Express — a suite of services designed to simplify and
enable payment facilitators with aggregation and traditional
payment processing services. With a long-standing and proven track
record in supporting merchant aggregators, ProPay is uniquely
suited to support the needs of software developers, service
providers, online marketplaces and other businesses in need of
merchant aggregation.
ProPay provides payment facilitators with not only secure
payment processing solutions, but also with all the services
necessary to operate a successful payment facilitator model without
the hassle of aggregating in traditional processing environments.
With online applications for instant boarding, split settlement,
accounting and merchant funding, ProPay’s solution is truly
comprehensive.
“While other companies sponsor and process transactions for
payment facilitators, this is often their only service – they
provide a software platform and tools, but they do not allow the
payment facilitator to be involved in the decision-making processes
at the sub-merchant level,” said Mike Cottrell, vice president of
sales at ProPay. “ProPay’s ProFac Express lets payment facilitators
take immediate advantage of our industry-leading transaction
processing platform – including online application, instant
boarding, underwriting and more – while also empowering them to
play an active role in the processing and client-service
relationship.”
"As the payment-facilitator market continues to grow and mature,
ProPay is well-positioned to provide merchant services to payment
facilitators," said Dave Duncan, president, ProPay. "It is a
dynamic period in the merchant acquiring industry with new online
marketplaces and software providers changing the way merchants
obtain their payment processing services. We are excited to
introduce our ProFac Express into the market to expand our
distribution channels."
ProFac Express Benefits:
- Online Application and Boarding −
ProPay provides payment facilitators with APIs to create an online
application, or the option to utilize ProPay’s online, short-form
merchant application to deliver an automated boarding and
underwriting process that includes co-branded landing pages and
documentation to speed up time to market.
- Underwriting Services and Risk
Management − ProPay provides full-service underwriting and ongoing
risk management as part of ProFac Express. This allows payment
facilitators to focus on their technology and services while
knowing that ProPay is examining accounts from the initial approval
process through the transaction processing lifecycle.
- Processing Capabilities - ProPay’s
ProtectPay® platform provides software integrators, payment
facilitators, SaaS providers and online marketplaces with the tools
necessary to easily implement payments processing. Along with
tokenization and encryption services, the ProtectPay platform
provides a single interface for multi-currency processing,
sub-merchant funding, collection of service fees, accounting,
holds, reserves and even the ability to fund to a branded prepaid
card if desired. The platform also offers recurring billing
capabilities along with an automatic credit card updating service
for payment facilitators requiring an account on file service for
auto-shipments or periodic billing. Additionally, ProPay integrated
the Guardian Cybershieldsm service with ProtectPay to provide a
suite of fraud protection tools for payment facilitators operating
in the card-not-present space.
About ProPay
Since 1997, ProPay has provided simple, secure and affordable
payment solutions for organizations ranging from the small,
home-based entrepreneur to multi-billion-dollar enterprises
requiring complex payment solutions. ProPay’s ProtectPay
platform provides software integrators, payment facilitators and
SaaS providers with all the tools necessary to easily implement
payments processing. As a leading provider of complete end-to-end
payment security solutions, ProPay helps reduce the client
organization’s risk of sensitive payment data compromise. ProPay is
the recipient of the prestigious 2010 ETA ISO of the Year award.
ProPay is a wholly owned subsidiary of TSYS (NYSE: TSS) and is a
leader in payment data security. For information, visit
www.propay.com or call 888.227.9856.
About TSYS
At TSYS, (NYSE: TSS), we believe payments should revolve around
people — not the other way around. We call this belief
People-Centered PaymentsSM. By putting people at the center of
every decision we make, TSYS supports financial institutions,
businesses and governments in more than 80 countries. Through
NetSpend, a TSYS Company, we empower consumers with the
convenience, security, and freedom to be self-banked. TSYS offers
issuer services and merchant payment acceptance for credit, debit,
prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local
offices spread across the Americas, EMEA and Asia-Pacific. TSYS
provides services to more than half of the top 20 international
banks, and has been named one of the 2015 World's Most Ethical
Companies by Ethisphere magazine. TSYS routinely posts all
important information on its website. For more please visit us at
www.tsys.com.
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.comorProPayScott Nelson,
+1-801-341-5566scott.nelson@propay.com
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