What You Should Know
ProPay's product offering is targeted at businesses that don’t need to accept the bulk of their payments at a physical location. While they don’t support in-store terminals, you can accept payments through your mobile device using the ProPay app, a virtual terminal, or integrate your software directly into ProPay’s Payment APIs. ProPay has multiple branded products and services for both small merchants and large enterprises, which are detailed below.
ProPay offers instant merchant accounts to small businesses (see their rates and fees in the Pricing section). If your company has over $3000/mo in card transaction, you may have some negotiating power and could be able to knock down their prices if you speak directly with their sales department.
ProPay Prepaid Debit Mastercard
With each merchant account, ProPay provides you with a Prepaid Debit MasterCard that is linked directly to your ProPay account so you don't have to transfer funds between accounts to access your hard earned cash. It works just like a normal debit card, and you can even stamp your own brand on it.
Accept international payments in over 180 currencies, and make commission payments in over 35 countries in the international currency of your choice.
ProPay’s bread and butter is supporting payment facilitators. A payment facilitator, or PayFac, is an organization that offers merchant services to affiliates, distributors, or partners all under the PayFac’s single merchant account. This is also known as a merchant aggregator. ProFac is ProPay’s payment facilitator program, and is ideal for companies that offer SaaS platforms, online marketplaces, or anything else that requires you to aggregate the transactions of your partners. A great example of this business model is Mary Kay. PayFac has three different tiers.
Quickstart - Ideal for SaaS or software providers that need instant boarding of sub-merchants, split payment capabilities, and low liability, but depend on ProPay for underwriting and customer service
ProFac Silver - Best for SaaS or software providers that need referral capabilities with application flexibility, where customer service is shared by your company and ProPay, and underwriting is performed fully by ProPay (ProPay is open to a hybrid approach that utilizes your companies resource to expedite the process)
ProFac Gold - Made for larger companies that want to utilize ProPay’s APIs and operate as a fully registered payment facilitator
Regardless of the tier, ProPay will have a consultative session with your business to learn how they can best partner with you. ProPay specifically supports:
- Accounting and invoicing platforms
- Event registration platforms
- Field Force enablement systems
- Government and Utility billing systems
- Mobile app developers
- Tablet-based POS systems
SplitPay® enables your business to split a transaction's proceeds between merchants, affiliates, consultants, partners, distributors, and your entity, automatically depositing funds into the right accounts. By integrating SplitPay into your SaaS platform, website, or back office software, you can customize exactly how your commissions are split, and get paid in real time. This is a huge win for payment facilitators.
SpendBack® is a “Payment Intranet”, that allows distributors, merchants, or affiliates pay for wholesale orders directly from their PayPro account, which means that you won’t be getting charged credit card processing fees for these transactions.
EnsureBillTM is a card updater service offered by ProPay. Card updater services automatically update a customer’s credit card number or expiration date, which is incredibly useful for reducing credit card declines if your business utilizes recurring payments.
Guardian CyberShieldSM is ProPay’s fraud prevention and detection tool. Through a combination of device profiling, user identity and behavior analysis, and business rules defined by your company, your customers will be protected against identity and credit card fraud.
ProtectPay® is ProPay’s tokenization service that protects your customers against fraud. Tokenization encrypts sensitive payment information as tokens, which reduces your PCI compliance risk because no cardholder data is transmitted or stored on your business’ systems.
ProPay Payments Network
ProPay has a great diagram that visualizes how their products work together.