09/16/2022, Toronto, Ontario // PRODIGY: Feature Story //
Toronto – OTT Pay, a leading Canada-based FinTech payments processor, is expanding its multi-billion dollar cross-border business in the United States to better serve global e-commerce companies with more efficient transaction processing abroad.
Partnering with the world’s leading payment providers, OTT Pay’s subsidiary – OTT Pay USA – offers more convenient collections and billing solutions to help global e-tailers save even more on cross-border transaction costs.
“A more efficient solution for cross-border transactions is vital for e-commerce businesses, especially at a time when there is fierce competition to grow business and gain market share globally,” said Stanley Yu, CEO of OTT Pay .
OTT Pay and its regulated subsidiaries have developed strong partnerships with major global financial institutions to streamline its payment services. The company has developed a proprietary system to provide customers with safer and more efficient services. The system provides full tracking of every transaction and strong risk monitoring and controls to ensure compliance with applicable rules and regulations.
OTT Pay USA works with its partner banks under the supervision of US regulators to serve customers worldwide. Funds are held in bank custody to ensure each transfer meets business compliance standards. The custody accounts can only accept funds from bank-approved e-commerce platforms and send funds to designated and pre-approved fund recipients to prevent funds from being misused.
“It is critical that funds are safe and secure as customers pay and get paid,” said Alex Liu, executive vice president of OTT Financial Group. “The priority of our payment services is to process transactions securely, reliably and conveniently.”
OTT Pay USA connects cross-border e-commerce providers and platforms with American banks and foreign payment institutions. It takes…
