Toronto, ON, Jan. 20, 2023 (GLOBE NEWSWIRE) -- OTT Pay, a leading Canada-based payment service provider, led the way in 2022 with major business developments, exciting new commercial partnerships, and cutting-edge payment innovations to better serve the global commerce landscape by providing highly reliable payment solutions to Canadian merchants while diversifying sales channels to overseas markets.
"We have achieved major milestones in 2022 thanks to the tremendous support from our business partners," said Stanley Yu, CEO of OTT Pay, " 2023 is a fresh start for us, and will be another pivotal year for our company. We are very excited about the future and the growth trajectory we are on."
Here are the major milestones OTT Pay achieved in 2022.
OTT Pay’s global volume triples
OTT Pay's global settlement business has established long-term relationships with acquirers, payment service providers, and merchants worldwide to provide global merchants with secure, convenient, professional, and simple payment solutions. With its global presence expanding, OTT Pay's global settlement business volume tripled in 2022 compared to 2021.
OTT Pay expanded into the United States
OTT Pay expanded its multi-billion-dollar, settlement business into the United States with OTT Pay USA. The subsidiary provides an important new bridge between cross-border e-commerce providers and platforms and banking organizations in the United States. OTT Pay is excited to see its footprint expand into the United States, to offer faster, more secure and cost-effective transaction processing to small and medium-sized global businesses, at lower transaction costs.
OTT Pay facilitate Canadian businesses to boost sales
OTT Pay has been driving the upgrade of Canada's e-commerce system and payment technology since its inception. With its comprehensive marketing strategies, the company enables its merchant partners to generate new traffic from online to offline and close the sales loop. OTT Pay has facilitated some of the country's largest shopping malls in exceeding millions of dollars in sales on specialized market campaigns.
With its advanced and reliable payment solutions, OTT Pay enables Canadian businesses such as Dufry, Ivanhoé Cambridge, Canada's Wonderland, CF Shopping Malls, and the University of Toronto Bookstore streamline and improve their payment and transaction services while driving sales through increased traffic, diversified sales channels, and expanded customer reach in Canada and abroad, serving targeted customer domains in a more effective and efficient manner.
OTT Pay broke new ground with its Shopify plug-in
With over 2 million business users in 175 countries, Shopify is one of the world’s leading e-commerce platforms. With OTT Pay’s new plug-in, launched in 2022, merchants with Shopify stores can facilitate a range of transactions more easily and offer a wide range of payment options to global customers. For the very first time, Shopify retailers can now accept and easily process payments from WeChat Pay and UnionPay, two of the most popular Chinese payment methods. The plug-in offers a secure and robust channel for merchants to manage transactions while capturing more global market share and expanding their global customer base.
OTT Pay launched OTT Pay Checkout
OTT Pay came to the support of e-commerce merchants and software developers worldwide in 2022 with the launch of OTT Pay Checkout. It is a simple platform integration that accepts payments from a range of payment methods, including Alipay, WeChat Pay, and UnionPay. As global businesses know, a key to customer retention and satisfaction is reducing friction at checkout. OTT Pay Checkout is helping businesses grow their global customer base, while keeping transactions secure, compliant, and efficient with an integration that is easy to install and simple to use.
About OTT Pay:
OTT Pay is a leading FinTech company headquartered in Canada providing secure, fast, and convenient payment aggregator services that enable merchants to accept several types of payment methods to meet their customer needs, with a mission to build an ecosystem connecting consumers and businesses globally creating more opportunities for all. OTT Pay is a member of the OTT Group of Companies, a diversified financial services group that has been delivering trusted financial services since 2006. The Group provides services in securities distribution, investment brokerage, asset management, and global settlement, in addition to payment services.
For media inquiries, please contact rania.li@ott.ca
