ProPay Gets Payment Facilitators on the Express

With its latest offering, ProPay, a TSYS company, is looking to help payment facilitators.

The payment services company announced yesterday (March 31) that it is launching ProFac Express, a suite of services designed specifically for payment facilitators in order to provide them with aggregation and traditional payment processing support.

“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 of 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.”

As outlined in the press release, the benefits of ProFac Express include online application and boarding; underwriting services and risk management; and processing capabilities.

To the last point, ProPay’s ProtectPay platform provides software integrators, payment facilitators, SaaS providers and online marketplaces not only with tokenization and encryption services but additionally: 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.