- OTT Pay, which is a major Canadian online money transfer provider, has confirmed that it will be opening up its multi-billion-dollar global business in the US.
- It will be doing this via a subsidiary company known as OTT Pay USA, which allows for payment collection services to help those selling internationally.
- “A more efficient solution for cross-border transactions is critical for e-commerce companies, particularly at a time when there is fierce competition to expand business and win market share globally,” said the firm’s chief executive officer.
OTT Pay, a major Canadian online money transfer provider, has confirmed that it will be opening up its multi-billion-dollar global business in the US.
The company said that it will be moving into the country as part of its push to improve global e-commerce merchant options there. It will be doing this via a subsidiary company known as OTT Pay USA, which allows for payment collection services to help those selling internationally.
The firm has a number of regulated sub-firms under its belt, all of which work to give financial institutions the chance to improve payment services on a number of levels.
It has, for example, a proprietary system that allows customers to enjoy improved and more efficient services. It is possible through this system to carry out basic financial functions such as risk monitoring and transaction monitoring.
The company also has high levels of security thanks to its commitment to meeting business compliance standards via bank custody formats.
In a statement Alex Liu, the executive vice president of OTT Financial Group, said that it was very important that customers could rely on protection.
He said that this applied both when people were initiating fast money transfers and also receiving them.
“It is critical that the funds are secure and protected when customers pay and get paid,” he said.
“The priority of our payment services is to process transactions in a secure, reliable and convenient manner.”
Stanley Yu, the company’s CEO, said that it was more efficient for the cross-border transactions to take place in a certain way, given that there was currently so much competition around the world in terms of building businesses.
“A more efficient solution for cross-border transactions is critical for e-commerce companies, particularly at a time when there is fierce competition to expand business and win market share globally,” he explained.
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