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OTT Pay launches cross-border transaction solutions in the US

Tuesday 20 September 2022 14:09 CET | News

Canada-based fintech OTT Pay has expanded its cross-border business in the US to process overseas transactions for ecommerce companies.

 

In partnership with global payment players, OTT Pay’s subsidiary company, OTT Pay USA, provides more convenient payment collection and settlement solutions to help global e-tailers save more on cross-border transaction costs.

OTT Pay and its regulated subsidiaries have built close partnerships with major global financial institutions to streamline its payment services. The company designed a proprietary system to provide customers with secure and efficient services. The system provides complete tracking of each transaction and robust risk monitoring and control to ensure compliance with applicable rules and regulations.

OTT Pay has expanded its cross-border business in the US to process overseas transactions for ecommerce companies.

How OTT Pay works

OTT Pay USA works with its partner banks under the supervision of US regulators to serve customers worldwide. The funds are held in bank custody to ensure that every transfer meets business compliance standards. The custodial accounts can only accept funds from bank-approved ecommerce platforms and send money to designated and pre-approved fund receivers, preventing funds from being misappropriated.

OTT Pay USA connects cross-border ecommerce vendors and platforms with American banks and overseas payment institutions. It employs a big data platform to consolidate scattered, small-amount transactions for centralised clearing and settlement, similar to those handled by large financial institutions.

It also provides real-time transaction monitoring and active risk management, allowing regulators to track capital flow in real time. With thought-out Know Your Customer, AML, and ATF system, the Canada-based fintech ensures efficient and transparent international clearing and settlement services for global small and medium-sized businesses.


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Keywords: cross-border ecommerce, cross-border payments, real-time payments, AML, CFT, KYC, expansion
Categories: Payments & Commerce
Companies: OTT Pay
Countries: United States
This article is part of category

Payments & Commerce

OTT Pay

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