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Transact24 Limited is incorporated with its Head Office in Hong Kong with operations, technical and support centers in Hong Kong, Zhuhai (China) and South Africa. Regional registered satellite offices are located in Australia, Austria, the UK, Indonesia, Macau and the USA.
Established in 2006, the company was formed by a Swedish Venture Capital entity and staff with Hong Kong as its chosen domicile to capture the emerging Chinese online market. Our staff is a mix of western and Chinese, with the focus of our business being to become the Internet Payment Service Provider (iPSP) of choice for the emerging markets in Asia and the Southern hemisphere.
Strategic alliances with unique iPSP operators soon culminated in an abundance of services that are made available to merchants worldwide via a single API integration. These services include inter Alipay, Entropay, Envoy and China Union Pay, the latter specifically for the Chinese market.
Since its inception in September 2006, T24 offered Payment Service Provider (PSP) services. T24 has a PCI DSS (Payment Card Industry Data Security Standard) Level 1 compliant payment switch that is connected to multiple acquiring banks and processing institutions in Europe, Australasia, South East Asia, Africa and China, offering Internet merchants payment options such as Visa, MasterCard and Chinese Debit and Credit Card processing.
In 2008, T24 acquired Tin16 Datenverarbeitungs AG, a Vienna incorporated company with ACH technology and ACH processing agreement with Deutsche Bank Americas.
T24 is a Third Party processor working directly with ODFI’s based in the US and US territories. We offer processing services for US based merchants in various industries.
In 2010, T24 closed the loop in the facilitation of payments by becoming a Program Manager for the issuing of Prepaid transactional cards. This it does in cooperation with its FSA regulated BIN Sponsor, Cashflows and Visa and MasterCard. The card issuing is done via its full subsidiary, Tansact24 Trading Ltd., based in Gibraltar.
In November 2011, T24 launched three T24 branded Prepaid Visa products for the international market; T24BlackCard, T24PayVault and T24BlackShied.
The T24 IT team specializes in building and supporting high volume and secures transactional processing systems. T24 also provides consulting and technology solutions to a wide range of clients in the Payment space.
T24 has over 30 experienced developers capable of building software using Java, python, PHP and .Net. The frameworks are used extensively across all languages. All of the transactional systems use Oracle 10 or 11g and engineers are comfortable with all major databases including MS SQL server, MySQL and PostGresSQL.
T24 has a technically strong multi-disciplined team of systems engineers, who provide 24 hour support for the PCI DSS level 1 transactional processing systems and hosting environment. Skills cover all major operating systems, networking, and virtualization. The teams core technologies are UNIX /*nix, Microsoft Windows Server, Cisco, Oracle and SQL Server.
T24 strictly follows an agile development approach using the scrum project management approach and applies rigorous software engineering practice to maximize quality. The development team is supported by a team of over 10 quality assurance engineers, 3 project managers and a business analyst.
With technology moving at such a rapid pace in today’s world, consumers continue to expect more convenient and flexible ways to make payments. ACH payment processing can help with this, making it easier for businesses to expand their base of customers whilst satisfying their need for convenience and flexibility of payments – giving them another fast, easy and secure way for customers to pay.
ACH payment processing, better known as Automated Clearing House, is a federally regulated payment network that is designed to allow financial institutions based in the US to send funds electronically. Governed by the National Automated Clearing House Association (NACHA) and operated by the Federal Reserve and Electronic Payments Network, ACH payments provide an alternative to paper based and card payments.
ACH payments processing is best thought of as the electronic equivalent to a check. Customers provide details of their bank routing or checking account as they would do with other traditional payment methods, however, the payment is verified and sent electronically through the ACH system immediately.
The types of payment that Businesses use ACH for commonly include direct deposit options for customers or employees, direct loan, rent, mortgage or bill payments, business to business transactions, and even e-commerce payments.
Learn more about ACH payments
Learn more about ACH processing benefits
Electronic data theft is an increasingly complex problem, making it more and more crucial for businesses to put in place the proper precautions to safeguard themselves and their customers from ACH fraud. Transact24 fully adhere to PCI DSS standards, ensuring the our customers benefit from the highest levels of security available to the payments sector, protecting our merchants, business clients and their customers from such fraud.
If you’re interested in learning more about ACH payment processing from Transact24, and how it can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us.
You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.
ACH (Automated Clearing House) processing is a means of electronic payment method that allows for funds to be transferred between savings and checking accounts.
The ACH network processed $4.7 billion transaction in Q1 of 2015. Hundreds of thousands of companies process all manner of payments, including direct deposit payroll, insurance premiums, Federal government social security payments, loans, mortgages and utility bills via the ACH Network.
The ACH network has been around for over 40 years and has proven in this time to be an extremely reliable, safe, secure and private payment processing network. It was initially setup as a more convenient and cost-saving alternative to paper-based checks.
ACH processing works similarly to electronic checks (eChecks) however, where they differ is that an ACH payment transfers funds from one bank account to another, via debit or credit, which can be setup for recurrent billing, whereas an eCheck is limited to a one-time electronic payment method.
ACH processing is ideal for corporate companies that need recurring payments, such as monthly billing, memberships and other subscriptions. This makes it particularly beneficial as a payment method for numerous sectors, particularly healthcare, the public sector, financial institutions, utility providers and property management companies.
Yes, Transact24’s ACH processing solution supports WEB, PPD and TEL initiated transaction.
The period related to the settlement of funds is dictated by the various banks T24 has partnered with.
Alipay is the leading third-party payment solution, providing 550 million registered users with an easy, safe and secure way to make and receive payments online. Founded in 2004 and part of the Alibaba Group, Alipay has grown to facilitate over 8.5 million transactions per day with a volume that exceeds 2 billion RMB, surpassing PayPal to take the crown as the world’s largest third-party online payment solution.
Alipay have developed partnerships with all 19 Chinese national banks, including the Agricultural Bank of China, the Industrial and Commercial Bank of China, Bank of China, China Merchant Bank, as well as 40 other local commercial banks, such as the Bank of Shanghai. In addition to these domestic partnerships, Alipay has a number of international partners, including the likes of Visa, Mastercard, Citibank, Standard Chartered, and so on, giving registered members a vast array of funding sources with which to use Alipay.
Alipay is the largest third party online processor both domestically in China, and throughout the world, processing more transactions per day than any other, including PayPal. Being able to accept Alipay is essential when wanting to do business in China, as since its launch in 2004, it has grown to become the payment option of choice for Chinese consumers shopping online.
The easiest way to add Alipay as a payment option to your website is to use an online payment gateway, which is where we at Transact 24 can help. We work with numerous merchants, both inside China and internationally, to help them open up their business to both the Chinese market and it’s payment options. With our Alipay gateway solution, you’ll be able to accept payments in Chinese Yuan (￥) and receive settlement in the major currency of your choosing.
If you’re interested in learning more about Alipay processing solutions from Transact24, and how they can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us.
You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.
Credit and debit card processing are at the heart of every business, making a good payment processing solution vital for success. Transact24’s payment gateway sits between your website and your bank, safeguarding the security of your customers and their payment details, ensuring fast, secure and safe online payment processing.
We can accept most leading forms of card payment, including Visa, MasterCard and China UnionPay, and can process payments and settle in a number of different currencies. All of this is done in real-time, without delay, providing you and your customers with a smooth and reliable means of accepting payment through your eCommerce website.
Transact24 have been in the business of processing card payments for the best part of a decade, giving us a wealth of experience and first hand know-how within the card processing space. We also boast a high level of technical expertise, having a fully staffed in-house team of developers and technical support specialists, giving you a level of integration support and assistant that you’re unlikely to find elsewhere.
The easiest way to add all leading credit/debit cards as payment options to your website is to use an online payment gateway, which is where we at Transact 24 can help. We work with numerous merchants around the world to provide them with a card processing solution that is cost-effective, reliable and easily integrated into their existing web sites and applications.
If you’re interested in learning more about Credit/Debit card payment processing from Transact24, and how it can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us.
You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.
With 30% of all cards issued worldwide now being a China UnionPay card (CUP), there has never been a better time to add this payment option to your website, opening up your business to the world’s biggest online market.
China UnionPay cards are primarily issued within China, and with China’s ecommerce sector booming, accepting this form of payment will lead to a rapid increase in the number of online sales your business is able to generate.
China UnionPay is the only domestic issuer of cards in China, is now the world’s largest card network by number of cards, and is expected to surpass Visa to become the largest network by transaction volume within the next 3-4 years.
The easiest way to add China UnionPay to your website is to use an online payment gateway, which is where we at Transact 24 can help. We work with numerous merchants, both inside China and internationally, to help them open up their business to both the Chinese market and it’s payment options. With our China UnionPay gateway solution, you’ll be able to accept payments in Chinese Yuan (￥) and receive settlement in the major currency of your choosing.
If you’re interested in learning more about China UnionPay processing from Transact24, and how it can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us.
You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.
The T24 Prepaid Card Platform could not be simpler to integrate, implement and enabling the distribution of cards to your customer base. T24 can offer cards issued by our existing issuer relationships or be applied to an issuer in a territory of your choice.
Cardholders can withdraw money from any ATM displaying the VISA trademark and use funds at any retailer accepting VISA cards.
The cardholder is able to manage their card via a secure on-line account accessible either via Mobile phone or directly online. Additional services such as full SMS support as well as card to card transfers are also offered.
T24 offers various solutions depending on the size of your customer base and what your target market is. We offer services from white label prepaid cards, with your corporate branding coupled with website look and fee, to quick and easy of the shelf programs for prepaid payroll cards/payout solutions and co-branded prepaid cards. All our programs are available under the VISA network providing worldwide ATM and Retail access for usage of the cards.
The T24 Black Card is the world’s first prepaid program to offer complementary Priority Pass membership connected directly to a Visa Prepaid Card. This allows the cardholder access to over 600 airport lounges worldwide. The card itself is tailored towards the high net worth market, offering a load limit of 50,000 USD.
To learn more about T24 Black Card and its full list of features and benefits click here
The T24 PayVault Visa Prepaid Card is a dedicated payment solution for European-based companies looking to streamline their payroll management and other systems, ranging from remunerating employees in various geographies to paying commissions to local sales staff
To learn more about T24 PayVault and its full list of features and benefits click here
The T24 Blackshield membership program and prepaid card is the first program tailored for medical insurance companies enabling them to provide their members with an effective means of distributing claims expediently. As with the T24 Black, the T24 BlackShield is also pre-package with complementary worldwide travel insurance coverage.
To learn more about T24 BlackShield and its full list of features and benefits click here
T24 provides a complete product management services for companies wanting to launch their own prepaid card brand but don't necessarily want to develop or operate the card program themselves. The T24 Prepaid Management services can be broadly summarized like this:
When the program is live, T24 will operate, maintain and enforce compliance of the prepaid program while it is operational. The Client markets and sells their own program as per the provided business plan. If there is a loyalty section of the card program, the Client takes care of this part as well.
If you’re interested in learning more about Prepaid card solutions from Transact24, and how it can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us. You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.
At Transact24, we realise that a company is only as good as it’s people, and as such, look for the sort of high-calibre, committed people who work to enhance our corporate values, helping to grow and develop not only themselves and their our careers, but also our company. These values are built around security, customer service, people, expertise, quality and innovation, the combination of which has been a crucial driver of our success.
Our company culture focuses on building strong relationships with our customers, relationships that work to build confidence in our brand and its position within the fast moving world of payment services. These customers, and the experience they’ve had in working with us to delivery solutions that meet their wants and needs, are the life blood of our business, and here at Transact24 we work above all to ensure that this experience is a positive one.
We’re always on the lookout for ambitious, hardworking and friendly individuals, driven to succeed, and who share our pride in delivering work that exceeds the expectations of our clients. If you think that you fit the bill and have what it takes to become part of our highly professional, dynamic team of payment services industry specialists then please email us a copy of your CV to [email protected]
Philip has a long history of working within the payments industry and a solid record in building new companies. He has acted as the Executive Chair and Managing Director of T24 since establishing the company back in 2006.
Prior to establishing T24, Philip was with Nasper/MIH, a large South African and International Media Group, and was responsible for all existing and new technology and media for Naspers.
Grace has a degree in Business Studies from the Hong Kong Polytechnic University.
Grace joined Transact24 shortly after its inception in September 2006 to assist with setting up and running Credit Card Acquiring operations.
After a short leave of absence, Grace re-joined Transact24 as Acquiring Manager. Grace expanded the Transact24 acquiring capabilities to include various payment options.
Grace saw an opportunity in the growing Chinese Acquiring market and spearheaded Transct24’s entrance into China UnionPay Acquiring.
Grace speaks fluent Chinese, Japanese and English and currently heads up all Acquiring in the APAC region.
Having graduated from Umea School of Business and Economics at the University of Umeå in 2005, he has been working in the payments industry ever since, moving from Stockholm to Hong Kong in 2007 to be part of the formation of Transact24 in Hong Kong.
Having had several roles within the Group, Erik is now Head of Transact24 Prepaid Cards division, responsible for department performance, development and strategic profile.
Richard is an entrepreneur by nature with broad exposure in international arenas.
In 1996, Richard started his formal career founding an IT business, which he rapidly grew and used as a base to start taking positions in other IT companies. The most notable of these was the position he took up in ITEX, which managed more than 30,000 card payment (‘POS’) terminals for one of the large South African banks.
Richard took a sabbatical from the IT industry in 2005 and bought into a defence manufacturer, Milkor, in 2006. The company performed very well under Richard’s management as CEO. He exited his executive position in 2009 to pursue other opportunities and interests, including investment into several manufacturing businesses.
In 2014, Richard joined Transact24 to head up the Credit Card Acquiring business unit.
Christoff Fourie has been with Transact24 Limited since 2008.
Christoff and his Prepaid operations team looks after the daily VISA prepaid card operations based in Hong Kong. They service all Prepaid Card Clients processing applications, facilitating the loading of cards, Implementation and go-live of new functionalities related to CardDirector. His team also looks after the operational aspects related to the T24 Union Prepaid card.
His ACH team based in South Africa and Hong Kong respectively manages all aspects related to the ACH payment processing business unit focusing on the US based market.
Ernest Lau has been working within the payment industry since the inception of e-Commerce.
As a result, he’s witnessed first-hand the evolution of online payments, from transaction processing via electric data capture (EDC) terminals, to full-blown Internet Payment Gateways that connect various card acquiring institutes.
He possess extensive knowledge on system architecture for transaction processing systems and keeps abreast with the latest payment technologies, apply them in practice to the betterment of Transact24’s own proprietary systems and technologies.
Ernest is a techie at heart, but also a great communicator with a knack for problem solving, making the integration of your own systems with ours a straight forward, painless process.
Josephine Wu has been with Transact24 Limited since 2008.
She and her team prepare all the accounting work for the Group and work with external auditors and tax advisors in the preparation of audited financial statements and tax returns.
She also works with each business division to prepare merchants account reconciliation and settlement, and assist merchant with account statements and system interface.
B.Com LLB LLM Honours in Business & Administration MBA (cum laude)
George is the founding member of George Rautenbach Attorneys Incorporated, a focussed South African corporate and commercial law firm, based in Pretoria, South Africa.
George is a specialist corporate and commercial attorney, admitted in the High Court of South Africa. He is also an experienced business rescue practitioner, transactional advisor and deal negotiator. George has successfully structured, negotiated, concluded and procured funding for various high value commercial transactions. He has also through negotiation resolved various complicated and sensitive corporate legal and financial disputes, nationally, internationally and on the African continent.
Following his admission as an attorney, George pursued various commercial- and property investment opportunities. George co-founded Gatekeeper Asset Management with Martin Venter. Gatekeeper was the appointed development manager of the prime Val de Vie Wine and Polo Estate development in the Western Cape, South Africa. At the annual International Property Awards in Dubai in 2013 and 2014, Val de Vie won various awards, amongst others the prized 5-star award for Best Development, Multiple Units and Best Leisure Development in South Africa.
Theo Haarhoff is a non-practising advocate of the High Court of South Africa. He served as legal adviser for Old Mutual, during which period he obtained membership to the Institute of Life and Pension Advisers by successfully completing the required examinations.
Theo elected to use his experience and legal background as a foundation from which to pursue a career in business and started his own independent brokerage, which he built to a very successful brokerage. Theo later went on to pursue numerous investment opportunities, which inter alia included pursuing selected investment opportunities within the property market and later joined the property development company Gatekeeper Asset Management.
In 2014, Theo joined Transact24 and is responsible for operations jointly with Richard Potgieter, as well as being responsible for compliance related to the Credit Card Acquiring business unit.
Marc has degrees in mathematics and law and is a dually qualified lawyer in Germany and the UK. After some time in private practice, he has worked for many years in the payments and fintech sector, holding legal and compliance positions within banks, insurers and payment services providers.
He is interested in the intersection of technology, financial services, data protection and compliance. He has co-founded a company developing products around customer verification and compliance automation.
Marc has joined Transact24 to head the compliance and AML functions of the business.
Chris Telfer is a digital marketing and design professional who has been working within the world of dot com for over 9 years and has been with Transact24 since joining back in 2013.
He is responsible for digital marketing across the company, working to promote both our business lines and brands.
In addition to his marketing role he also has as a hand in the design, development and direction of corporate image for the company as a whole, being responsible for our websites, presentations and other marketing collateral requirements.
Michael joined Transact24 as Processing Manager in 2010. One year later his responsibility changed to include the handling of prepaid cards processing and subsequently was promoted to manager of our operations team.
Before joining T24, Michael gain experience over several years from numerous different industries such as banking, telecommunication, network marketing, and insurance fields and mainly responsible for manage the client’s application, account payment, settlement, and reconciliation duties.
Freda Ho is the HR & Admin Manager at Transact24. She graduated from the University of Florida, with bachelors degrees in Statistics, minor in Business Administration and Actuarial Science.
After graduation she moved back to Hong Kong and joined Transact24 in year 2010 as an Administrative Assistant. She has 5 years solid experience in the human resources and administration field.
She is responsible for working with the management team in recruiting, compensation performance management, employee compensation, benefits and more.
“We ended 2015 in a strong position, with another great year for Transact24. We’re looking forward to a number of exciting opportunities this year, across our acquiring, ACH and prepaid business lines, with 2016 already gearing up to be an even better year for us than the last.”
Philip Meyer, Managing Director
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