ProPay

ProPay, Inc is an American financial services company headquartered in Lehi, UT. The company provides payment solutions that include merchant accounts, payment processing, ACH services, pre-paid cards and other payment-related products. ProPay also provides end-to-end encryption and tokenization services. In December, 2012, ProPay was acquired by Total System Services, Inc. (TSYS) a publicly traded company, TSS (NYSE).

History

Founded in 1997 by Bradley Wilkes, ProPay has boarded more than 1.5 million merchants. Along with PayPal, Skrill, and Paymate, ProPay is one of the select few payment solutions authorized for use on the online auction site eBay.[1] In 2008, the payments industry began calling for a service to remove payment data from the merchant environment in order to reduce the risk of compromise. In 2009, ProPay was among a handful of companies that began to offer an end-to-end encryption and tokenization service.[2] At that time, ProPay also introduced the MicroSecure Card Reader®, allowing small merchants to securely accept card present transactions.[3] In 2010, ProPay received the Independent Sales Organization of Year award from the Electronic Transaction Association.[4]

Current Executive Team

References

  1. ↑ ProPay Reveals Details of New PayPal Alternative on eBay, AuctionBytes, October 19, 2008.
  2. ↑ ProPay Unlocks ProtectPay Encrypted Credit Card Processing, TMC.net 02/20/2009
  3. ↑ Pocket Credit Card Reader Takes Transactions on the Go, PC World 01/07/2009
  4. ↑ ProPay Receives 2010 Electronic Transaction Association ISO of the Year Award, Silicone Slopes 04/20/2010