ProPay® Brings Disbursement Fund Capabilities to China
February 20 2018 - 9:00AM
Business Wire
Offers an easier way for U.S. businesses to
disburse funds to UnionPay cardholders in mainland China
ProPay, a TSYS® company, announced today the expansion of its
global disbursement funds and commissions platform to UnionPay
cardholders in mainland China. ProPay makes it simple for U.S.
companies to distribute funds to consumers in mainland China using
UnionPay International’s MoneyExpress program, which provides easy
access to funds throughout the country.
Earlier this year, ProPay expanded its disbursement platform to
support international payment processing and global commissions in
180 countries, and in more than 130 currencies. With the expansion
of these capabilities to China, ProPay clients have even broader
paying power.
“For companies that operate on a global scale, dealing with
exchange rates, cross border fees and other financial hurdles can
result in increased costs and frustration,” explained Dave Duncan,
president of ProPay. “Unlike our competitors, ProPay has the
ability to remove these roadblocks by offering a convenient,
cost-effective approach. Our clients who conduct business in
mainland China can now get their distributors paid quickly, and no
hidden fees are incurred.”
ProPay’s enhancement to its global disbursements and commissions
platform offers customers a variety of unique capabilities for
disbursing funds to UnionPay cardholders in mainland China,
including:
- Disbursement of funds in near real-time
(no longer than 12 hours), which is drastically shorter than
typical bank transfers, which can take up to seven days
- ProPay’s integration with UnionPay
International eliminates the need for funding recipients to file
government registration, allowing for immediate access to
funds
- UnionPay cardholders of 13 issuers in
mainland China will receive the funds in RMB
- Recipients can see the exact amount
being deposited into their account at the time of the transaction
(or in 12 hours or less, in some cases)
- No fees on inbound deposits are
assessed to the funding recipient
- UnionPay is accepted widely throughout
China, allowing recipients to spend funds almost anywhere in the
country
“Retaining great consultants and distributors is the lifeblood
of direct selling companies, and ensuring they’re paid quickly is
vital to maintaining their loyalty,” said Mike Cottrell, vice
president of ProPay. “We’re proud to offer our business customers a
solution that ensures their distributors are getting paid on time
and without hassle.”
For more information contact ProPay at 888.227.9856 or
sales@propay.com, or visit www.propay.com/payouts.
About ProPay
Since 1997, ProPay has provided simple, secure and affordable
payment solutions for organizations ranging from small, home-based
entrepreneurships 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 payment
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 a wholly owned
subsidiary of TSYS (NYSE: TSS) and a leader in payment data
security. For information, visit www.propay.com or call
888.227.9856.
About TSYS
TSYS® (NYSE: TSS) is a leading global payments provider,
offering seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management. We succeed because we put people,
and their needs, at the heart of every decision. It’s an approach
we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with
approximately 11,500 team members and local offices across 13
countries. TSYS generated revenue of $4.9 billion in 2017, while
processing more than 27.8 billion transactions. We are a member of
The Civic 50 and were named one of the 2018 World's Most Ethical
Companies by Ethisphere magazine. TSYS is a member of the S&P
500 and routinely posts all important information on its website.
For more, visit tsys.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220005441/en/
TSYSMedia Relations:Cyle Mims,
706-644-3110cylemims@tsys.comorInvestor Relations:Shawn Roberts,
706-644-6081shawnroberts@tsys.comorProPayScott Nelson,
801-341-5566scott.nelson@propay.com
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