TSYS acquires ProPay
TSYS is acquiring ProPay, a payment solutions provider (view press release). ProPay offers merchants self-enrollment, instant activation and simplified pricing to begin accepting payments online and offline. The company offers a mobile payment acceptance dongle, branded as ProPay JAK, which attaches to phones and tablets to process payments and encrypt data. The transaction is due to close in late 2012, when ProPay will become a wholly owned subsidiary of TSYS.
“We have been a long-standing TSYS customer and it has been an excellent partnership. We are well acquainted with their team, offerings and culture, and know this will be a great fit for our customers and team,” said Gary Goodrich, chief executive officer and director at ProPay. “We are focused on expanding and accelerating the growth of our business in the U.S. and International markets, now with the power and reputation of the TSYS brand.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
