The alliance will offer ProPay customers to set up merchant accounts in Europe, Asia and the US, the firm said.
According to the firm, the agreement will cater ProPay users with true Domestic Global Acquiring in virtually any currency, authorization in more than 150 currencies and card settlement in 25 currencies.
Under the agreement, the transactions will be processed in the regions where cards are issued, the company will be able to reduce cross border and interchange costs, ProPay claims.
The global processing platform offers mutual sharing of knowledge about regional markets, challenges and business opportunities, leading to increasing expertise while its single source partner can simplify the management of international payments and offer broad coverage for acquiring, alternative payments, commission payments and payment data security on a global basis.
ProPay’s uninterrupted encryption and tokenization solution, improves overall payment data security and enables merchants to accept credit, debit and other payments types without storing, processing or transmitting the data, the firm said.
ProPay’s president and chief operating officer Greg Pesci said, "The expansion of ProPay’s payment capabilities through our partnership with Payvision further demonstrates ProPay’s commitment to provide simple, secure and affordable payment solutions on a global scale. We can offer our customers Domestic Global Acquiring in virtually any currency now."
