ProPay, a unit of the Columbus, Ga.-based TSYS, has introduced a suite of services aimed at simplifying the work of payment facilitators with aggregation and payment processing services.
With the suite, called ProFac Express, ProPay hopes to take advantage of the growing payment-facilitator market, the company said in a March 31 press release.
"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, in the release. "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."
ProFac Express incorporates traditional payment processing services along with online application support, underwriting and risk management. ProPay allows facilitators to create their own online application with supplied APIs or use ProPay's short-form merchant application with an automated boarding process and co-branded landing pages and documentation.
ProPay's offering also provides full-service underwriting and ongoing risk management. As for its processing capabilities, the suite includes ProPay's ProtectPay platform with tokenization, encryption, fraud protection and recurring billing services. The ProtectPay platform also handles multi-currency processing, sub-merchant funding and collection of service fees.
