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ProPay

ProPay Ultimate Payment Processing Platform for small to billion-dollar companies

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No matter what the size of any business is, money exchange is a part of it, though it can be manually or electronically. While choosing the medium for money exchange, any business searches for a platform that is reliable and easy to use.  When it comes to money, special care is needed. Thus, it is very obvious to rely on such a payment processing platform whose service feels safe. When any industry searches for money exchange setups, it demands some other factors. Such as flexibility, and versatility of the platform, and at most the robust process is considered.  In such a case, ProPay is a perfect platform that enables end-to-end payment solutions for all kinds of businesses. ProPay is active in this field for a long time and since then it is providing a service in the money exchange domain, that is easier, secure, and affordable.

About ProPay

It is an Orem-based financial firm, headquartered in Lehi, and belongs to TSYS as its fully own subsidiary. The firm is providing efficient payment solutions since 1997. Transfer of money, M-commerce, E-commerce, online payments, direct selling solutions, and reliability are main service areas covered by ProPay. Moreover, it is eminent in the payment business as one of the leading payment processors that provide services to various businesses. Regardless of size and type of business. That means, whether it is a billion-dollar firm, or any small organization, or small home-based business, ProPay meets the requirements of all of them.

A unique financial platform ProPay is based on its core values that are mostly related to promoting small size businesses by assisting them with robust payment processing.  As well, ProPay uses innovative technologies to improve the service as well as for risk management.

History

In 1997, ProPay is set up and in 3 years the firm started its first online virtual terminal. The company started Master Card, debit card program manager, and processor in 2003. Thereafter, in 2005, it launched a platform called SplitPay. ProPay shifts the focus on secure payment processing and adapted end-to-end encrypted processing. Later on, the firm enabled it’s best-known platform ProtectPay and ProFac.

Best platforms of ProtectPay- ProtectPay and ProFac Express

ProtectPay and ProFac Express are well-known platforms of ProPay. In fact, ProPay is one of the payment solution providers that provide ProtectPay. This platform offers software integrators, SaaS providers, and payment facilitators. Additionally, it comes with all other necessary tools for payment processing implementation.

While other platforms called ProFac Express to assist in underwriting, instant boarding, and processing solutions. No doubt, ProPay has vast experience in the financial industry that becomes helpful to provide more secure payment solutions for clients. ProPay is one of the firms that help them succeed with innovative payment processing solutions.

Awards and Achievements

Since its foundations, ProPay is rising continually along with helping other businesses to succeed. Today, ProPay’s name is taken as one of the trustworthy payment processors globally. The firm has also been honored with several awards that raised the bar of the company in the financial industry. In 2013, ProPay was recognized as Top Online Payment Service Provider. 2009 and 2010 was a memorable year for the company as it received several awards in these years. ProPay awarded as Electronic Transactions Association’s ISO of the Year, Inc. 5000 Fastest Growing Companies in the U.S., and ETA ISO of the Year in 2010. While in 2009, it named in 5000 Fastest Growing Companies in America, Stoel Rives Utah Innovation Award winner, and awarded as Utah Genius Award.

In 2003, it honored as Direct Selling Association Partner of the Year.

The person behind ProPay’s revenue escalating policies- Gary Goodrich

Gary Goodrich steps into the shoes of ProPay’s CEO in 2000. ProPay was well-known for its strong products but several other factors lead to a shaky future of the company. In the year 2000, the company was facing problems related to high costs and little cash for its newly launched online merchant account. It leads to low revenue generation. After Gary became CEO of the company, he implemented the best policies for the company and put the ProPay on secure financial footing.

Under his policies, the company successfully acquired many private investors that raised the investment of the company. Also, he acted on all measures to increase the revenue generation of ProPay. In just two years, the firm became profitable and strengthens the value of the company in the financial industry.

Bottom Line

ProPay is adapting all required changes and improving the service with an innovative approach and the company is making progress. Presently, ProPay is reconnoitering the services to many other sectors. It is now offering the payment processing solution to accounting offices, small medicals, and other professional offices. The financial firm, ProPay is also admired for its fine work culture

Wepay

Wepay: Enabling Payment Solution With Secure, Frictionless, And Customized Service!

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E-commerce is rising exponentially day by day; in turn, the need for online payment platforms is rising with it. However, this platform needs to be feasible and reliable too. WePay is one of the online payment service providers that enabled payment solutions that are integrated and customizable. As well, feasible and reliable to the customers. The company, however, provides an API based payment platform for marketplaces, crowdfunding sites, and small software companies. The best thing about WePay that it offers fraud-free payment solutions. Rich Aberman and Bill Clerico set up the company back in 2008. However, it headquartered in Redwood city of California.

About WePay

It is a trustworthy payment solution platform for its secure, frictionless, and customized service in this field. As the company is incorporated with several third-party vendors, risk and fraud protection is possible through the WePay payment platform. However, for detecting fraud and other user security issues, the company uses several techniques. Includes, machine learning algorithms, social data connections and many more.

According to the founders of WePay, the company’s corporate values are core to what it is and how it operates each and every day. Also, WePay base on the belief that a company’s success is the measure of its customer success. 

The Backstory

Every company has some background and reasons after its establishment and here with the WePay too. The story begins during the Rich Abreman’s brother’s bachelor party arrangement. For that, he was collecting funds from friends which were spread across the US. At that time, he faced so many difficulties to collect money from various sources that are completely different. Like some were offering cash, some offered checks while some of them offered PayPal Money transfer. He found all this process much time consuming as well as burdensome. Eventually, after so much struggle party goes well, but Abreman studied and understood the PayPal weaknesses. After this, he asked Clerico to assist him in setting up WePay. 

Thus, in 2008, they founded WePay in Boston. However, it was the time when social media and smartphones were popped. 

WePay Growth and Involvement

After one year, the company attracted interest from third-party developers. Especially those who were looking for an API to facilitate a simple payments approach on their platforms. In 2010, WePay introduced the first platform API that supports as well as monetize payments. Soon company collaborated with GoFundMe a crowdfunding platform. With it, WePay initiated the development of better UX. Also, the company enabled Embedded payments in 2012. To prevent and identify merchant fraud, WePay took the next step and introduced an intelligent risk engine. Additionally, the company introduced mobile card readers that are pre-certified. 

As per the mission and vision of the company, it continually improves its payment platform and growing impeccably. JP Morgan Chase acquired the company in 2017.

Masterminds behind WePay

Bill Clerico

He is the Co-founder & WePay CEO. His policies helped WePay a lot in its growth. Apart from that, Bill is an angel investor of WePay. Before that, he was an advisor plus investor at Insight Data Science. Also, he served as a part-time partner at Y Combinator. Coming to the educational background, Bill attended Boston College to study Computer Science. Clerico also went to the High Technology High School to study pre-Engineering, Math, Science as well as Cisco Networking.

Rich Aberman

The company is the result of Rich’s idea and will to enable an easier payment solution platform. He is the WePay co-founders and presently serving as a CSO of the company. Aberman is the person behind popularizing the WePay product strategy. As well, he is the frequent speaker at fintech conference where he mostly spoke on payments and innovations. However, he holds a degree in Bachelor of Arts. For that, he went to Boston College and studied Political science, Economics, and Philosophy. 

Other Social Works of WePay

Apart from enabling fraud and risk-free payment platforms, the company works for many social clauses. The company supported fundraising efforts for many disaster relief campaigns as well as several humanitarian causes. For example, WePay assisted the campaigns that are related to Hurricane Sandy, the Sandy Hook Elementary School shooting, Earthquakes in Nepal, etc.

Bottom Line

They believe in the quality of work and working to deliver excellent service since its foundation. Recently, the company announced a product line of Link, Clear, and Core. So that the integrated payments use cases can be solved. Also, it adds key JPMorgan Chase services for the incremental value.

Razer Collabs with Visa to Move Forward with its Fintech Arm

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Razer and Visa Partenership
Image Source: comentr.com

Razer the fintech gaming company has joined its hands with the world’s leader in digital payments, Visa, to initiate an unusual type of partnership. The two companies will be working together to develop a new virtual prepaid solution for many of Southeast Asia’s, especially the unbanked and underserved, consumers.

The company announced that its fintech arm, Razer Fintech, will be joining the fast-track program from Visa, as a revolutionary idea, aiming to transform the way the gamers make payments. The fast-track program from Visa has been specially designed for fintech companies to help them easily access 54 million merchant locations around the world that accept Visa.

The partnership between the two companies will lead to developing a new virtual payment service, that will empower the Razer Pay e-wallet and give its users access to the global Visa payment network. With this new service, the unbanked users will be able to top up the wallet, make online payment through it, and also, will be able to withdraw cash through it. The scope of Visa is already huge, and with the collab, the two companies will be targeting to the 60 million Razer users. Noticeably, the company has not talked about rolling out a physical payment card along with the service.

“We are pleased to partner with such a forward-looking and innovative company that understands the value and importance of expanding access to digital payments. This announcement reaffirms Visa’s commitment to the fast-growing and digitally savvy Southeast Asia region. Together, Visa and Razer Fintech have the opportunity to transform the payments experience for not only the gaming community but many of Southeast Asia’s unbanked and underserved consumers as well”, Chris Clark, Regional President, Asia Pacific, Visa, stated during the announcement.

The two companies have said that they will be rolling out a mini app for the new payment service and will also include great offers for its users. The app will be integrated into Razer’s virtual wallet app.