While big banks and retailers struggle to keep up with innovation coming from FinTech startups, Toronto-based Dream Payments — rather than competing — has come to their rescue.
Dream Payments is a cloud-based platform that allows merchants to sell anywhere using mobile devices. “There are new startups every day that are hungry, lean, and tech-savvy, and they’re disintermediating the banks and merchant acquirers,” said VP of business development Christian Ali. “The legacy platforms that are availably today that banks run their systems on, they can’t compete with the new technology and the tsunami of devices that are flooding the market.”
Dream Payments is already available at TELUS locations across Canada, and earlier this year secured a $6 million Series A.
Co-host Amber Kanwar applauded the fact that Dream Payments is both making payments platforms more accessible to small business owners, and getting the attention the larger companies. “It’s about all the analytics and data that they provide to that small business owner, and the fact that you’ve got a retailer like TELUS pushing it on their behalf,” said Kanwar.
Taking a more skeptical stance, co-host Bruce Croxon said that in a space as crowded as FinTech, it would be interesting to see how far Dream Payments could go. “There’s a lot of tools that consumers and retailers use to make this easier,” said Croxon.
Watch the entire pitch below:
BetaKit is a production partner on The Disruptors. Tune in to BNN every Thursday night at 7pm for full episodes!