LEHI, Utah & COLUMBUS, Ga.--(BUSINESS WIRE)--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.
