Paysafe Unveils Same-Day Merchant Settlement
Jun 20, 2018
Agreements with Company.com and Ingo Money digitize last mile merchant settlement for instant money transactions
HOUSTON, TEXAS, June 20, 2018 - Paysafe, a leading global payments provider, announced today that it will begin offering same day settlement in mid-July to small business merchants based in the U.S. It will do this through partnership with Company.com LLC, a small business products and services platform, and instant money technology company, Ingo Money. This latest customer offering in the U.S. supports its ongoing focus in the North America region where it has identified significant growth opportunities and reinforces its commitment to providing its customers with industry-leading tools.
Through this new dual collaboration, Paysafe will be able to remove the wait typically experienced by merchants when dealing with the traditional interchange system and offer a solution that enhances the merchants’ traditional funding window from days to minutes. Merchants will also be able to leverage Ingo Money’s push payments technology to unlock same day settlement of fully guaranteed funds, saving them time and money. In the near future, they will also be able to access the complementary ‘small business product and service bundle’ to be rolled out by Company.com.
Todd Linden, CEO of Paysafe North America said: “This offering is designed to provide a significant competitive advantage to our existing merchants and those outside of the Paysafe network seeking a processing partnership that offers proven cash flow products. This dual partnership is a testament to the highly-evolved Ingo Money technology platform, and Company.com’s ability to leverage their extensive knowledge of the acquiring industry.”
Ingo Money has funded more than $15 billion in instant transactions through one of 25 gateway endpoints. Ingo Money CEO Drew Edwards commented: “Ingo is the first push payments technology company, and our experience, technology and success rate are years ahead of our competitors. Applying these advantages to same day merchant settlement is aligned with our mission to provide consumers and small businesses with instant access to their funds. We are excited to work with Paysafe to deliver a competitive advantage to their merchant base of small businesses.”
Company.com served as a project coordinator between the three companies in determining implementation guidance, sales strategies and timelines for deployment. Their expertise is proven through their four-year partnership with iPayment Holdings, Inc. (iPayment), Paysafe’s wholly owned subsidiary, where they served to increase retention and provide incremental revenue for merchants.
Bill Wade, CEO of Company.com stated, “The market today demands acquisition and retention strategies based on tangible competitive advantage. Same day settlement is an additional product that complements the business services that Company.com already supports for iPayment.”
The news follows the close of Paysafe’s acquisition in June 2018 of iPayment Holdings, Inc. (iPayment) , a U.S. based provider of payment and processing solutions for small and medium-sized businesses, generating processing volumes of over $25 billion in 2017 from more than 137,000 merchant customers across the country.
Paysafe is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online cash solutions. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. With over 20 years of online payment experience, a combined transactional volume of US $56 billion in 2017 and approximately 3,000 employees located in 12+ global locations. Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world. For more information, visit www.paysafe.com.
About Ingo Money
Ingo Money is the instant money company. Founded in 2001 with a mission to digitize the paper check, our push payments technology enables businesses and banks to disburse instant, safe-to-spend funds to more than four billion consumer debit, prepaid, credit, private label credit and mobile wallet accounts. This transformation of traditional payments helps businesses reduce cost and delays while dramatically improving the consumer experience. Headquartered in Atlanta, you can learn more at ingomoney.com/enterprise, or follow us on LinkedIn, Google+ and Twitter.
Founded in 2008, Company.com specializes in aggregating and integrating best-in-class software and services for small businesses through its proprietary platform environment. Through both direct acquisition and channel partnerships with partners such as iPayment and Paysafe, this platform allows over 140,000 small business to access and manage multiple products from one integrated dashboard and billing platform. For more information on Company.com, please visit www.company.com or email firstname.lastname@example.org.
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Head of Corporate Communications, North America, Paysafe Group
Mail: email@example.com / Phone: 514-294-0247