COLUMBUS, Ga.--(BUSINESS WIRE)--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.”
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.
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.