Recap of OTT Pay Achievements in 2022

Jan 20, 2023
4 minutes Read
Explore OTT Pay's 2022 achievements in payment innovations, enhancing global commerce with secure, efficient transaction solutions.
Recap of OTT Pay Achievements in 2022

2022 was an exciting year for financial technology companies and OTT Pay led the way with a major business expansion, exciting new commercial partnerships, and cutting-edge payment innovations. Here are the major milestones we marked over the past twelve months.

OTT Pay expanded into the United States

OTT Pay expanded its multi-billion dollar, cross-border business into the United States with OTT Pay USA. The subsidiary is an important new bridge between cross-border e-commerce providers and platforms and banking organizations in the United States and overseas. OTT Pay USA provides centralized clearing and settlement and custodial banking services to global customers through OTT Pay’s proprietary system, which provides full transaction monitoring, risk management, and compliance control. OTT Pay is excited to see its footprint expand into the United States, to offer faster, secure, more efficient transaction processing to small and medium-sized global businesses, at lower transaction costs.

OTT Pay launched OTT Pay Checkout

OTT Pay came to the rescue of e-commerce merchants and software developers worldwide in 2022 with the launch of OTT Pay Checkout. It’s a simple platform integration that accepts payments from a range of payment methods, including Alipay, WeChat Pay, and Union Pay. As global businesses know, a key to customer retention and satisfaction is reducing friction at checkout. For cross-border e-commerce businesses, or tech developers providing IaaS, SaaS, or PaaS, that is best accomplished by offering customized payment options. OTT Pay Checkout is helping businesses grow their global customer base, while keeping transactions secure, compliance, and efficient with an integration that is easy to install and simple to use.

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 are able to 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 of the global market and expanding their global customer base.

OTT Pay partnered with the University of Toronto Bookstore

It become a lot easier for international students and instructors in Toronto to buy books and supplies in 2022 thanks to a partnership between OTT Pay and University of Toronto Bookstores. OTT Pay integrated its payment system with a leading Enterprise Resource Planning (ERP) software solution to offer a payment solution at the bookstores and online. With Point-of-Sale (POS) terminals now installed at all four bookstore locations in the Greater Toronto Area (GTA), students can now make digital payments in Chinese yuan using Chinese payment apps without long processing times and high foreign exchange fees. The partnership is part of ongoing efforts by the university and OTT Pay to streamline and enhance the campus shopping experience.

OTT Pay resumed its global shopping carnival

OTT Pay was thrilled to resume its annual global shopping carnival in 2022 after a two-year hiatus. Every year, during the holiday season, OTT Pay teams up with leading Canadian businesses and brands to build holiday shopping excitement through online and offline promotions. This year’s partners included Ivanhoé Cambridge, Dufry, Canada’s Wonderland, and Cadillac Fairview (CF) shopping centres from coast to coast. Starting with Single’s Day on November 11, the promotional bonanza helped stoke the frenzy for Black Friday and Cyber Monday, and built up holiday sales energy through Boxing Day and into the new year. The carnival helps top Canadian brands streamline and improve their payment and transaction services while driving holiday sales through increased traffic, diversified sales channels, and expanded customer reach in Canada and abroad.

OTT Pay joined Fintechs Canada as a top innovator

There’s a new industry association in Canada, one that brings together the most innovative companies in financial technology and the financial services sector in Canada. OTT Pay is proud to be a member of the new group – Fintechs Canada – and be recognized as a leading innovator in the Canadian fintech landscape. OTT Pay fully supports the association’s goal of raising awareness around the benefits of Canadian fintech to Canadian regulators, policymakers, and the public. We look forward to partnering with the association and its innovative membership to expand the opportunities for fintech in Canada in the days ahead.

To find out what OTT Pay is doing in 2023, follow us on LinkedIn, Twitter, and Instagram. To learn more about how our payment innovations can help your business, talk to one of our marketing specialists: 1.800.688.9838