Total System Services, Inc. (NYSE:TSS) via its subsidiary ProPay, a leading provider of merchant solutions in the United States and Canada has launched a comprehensive merchant solution for small businesses, e-commerce and direct selling companies in Australia.
The service will enable direct selling companies, micro merchants and distributors in Australia to accept credit cards anytime and anywhere. ProPay will use its robust merchant acquiring payment network to facilitate this service. All that is needed is a merchant account to get payments within minutes.
Other benefits of the service include online virtual terminal which enables merchants, micro merchants and consultants to process credit cards anywhere they have Internet access; ability to process credit cards and view transactions via a mobile device; email or text customers an invoice that contains a secure payment link and many more.
Small businesses are booming in Australia and the company is eying an attractive business market in the region. ProPay already provides similar services to small merchants in the United States and Canada. This transaction will further expand the company’s international footprint.
Total System has been growing over the past many years via its inorganic growth measures. A number of profitable acquisitions along with its consistent focus on new product initiatives, technology modernization and product diversification have added to its top-line growth.
In a year’s time, shares of the company have gained 44% compared with the industry’s growth of 30%.
Small and medium businesses are an integral part of a country’s economy. This area provides ample scope of growth and has attracted a number of companies like MasterCard Inc. (NYSE:MA) , Visa Inc. (NYSE:V) , Vantiv, Inc. (NYSE:V) .
Total System carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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