ProPay
Encyclopedia
ProPay, Inc is an American financial services
company headquartered in Lehi, UT. The company provides payment solutions that include merchant accounts
, payment processing, ACH services, pre-paid cards and other payment-related products. ProPay also provides end-to-end encryption and tokenization
services. ProPay is a privately held company located in Lehi, UT.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
company headquartered in Lehi, UT. The company provides payment solutions that include merchant accounts
Merchant account provider
Merchant account providers give businesses the ability to accept debit and credit cards in payment for goods and services. This can be face-to-face, on the telephone, or over the internet....
, payment processing, ACH services, pre-paid cards and other payment-related products. ProPay also provides end-to-end encryption and tokenization
Tokenization
Tokenization is the process of breaking a stream of text up into words, phrases, symbols, or other meaningful elements called tokens. The list of tokens becomes input for further processing such as parsing or text mining...
services. ProPay is a privately held company located in Lehi, UT.
History
Founded in 1997, ProPay has boarded more than 1.3 million merchants. Along with PayPal, Moneybookers, and Paymate, ProPay is one of the select few payment solutions authorized for use on the online auction site Ebay. In 2008, the payments industry began calling for a service to remove payment data from the merchant environment in order to reduce the risk of compromise. In 2009, ProPay was among a handful of companies that began to offer an end-to-end encryption and tokenization service. At that time, ProPay also introduced the MicroSecure Card Reader®, allowing small merchants to securely accept card present transactions. In 2010, ProPay received the Independent Sales Organziation of Year award from the Electronic Transaction Association.Current Executive Team
- Gary Goodrich, Chief Executive Officer, Director
- Gregori Pesci, Chief Operating Officer, President
- Bryce Thacker, Executive Vice President of Sales and Marketing
- Mark Johnson, Chief Information Officer
- Chris Jensen, Executive Vice President, Treasurer and Secretary
- Lance Rich, Executive Vice President, Risk
- Frank Anthony Allen, Executive Vice President, Corporate Counsel