Payfirma allows financial institutions to white label its PayHQ platform, enabling institutions to launch their own merchant services platform that aligns with their own branding and marketing. Through PayHQ, small and medium-sized businesses can accept credit and debit cards payments, manage electronic transactions, offer loans, and gain insights like which customers are driving the business’ trends.
“Collaboration with banks and financial institutions has been pivotal to Payfirma’s growth and product development,” said Michael Gokturk, CEO of Payfirma. “By working with our bank partners, we are able to offer our solutions to more customers, banks are able to offer the best payment technology, and ultimately our mutual customer benefits by increasing their sales and lowering their costs.”
“Collaboration with banks and financial institutions has been pivotal to Payfirma’s growth and product development.”
Payfirma said it has been working with several Canadian financial institutions to white label the company’s platform. In April, Payfirma partnered with Canadian Western Bank to provide the bank with a fully-integrated, omni-channel merchant services platform. The company has partnered with three financial institutions to date.
“CWB’s launch of PayHQ has been a great experience,” said Keith Hughes, senior vice president of sales and marketing at Canadian Western Bank. “Payfirma’s professional and knowledgeable team has enabled us to offer an innovative merchant services solution that is user-friendly and consistent with our brand. Their interactive training sessions were very well-received by our employees who are now prepared and excited to offer this service to our business clients.”
In June 2015, Payfirma raised a $13 million series A round led by Dundee Capital Markets, which helped the company expand its offering, accelerate its growth, and build strategic partnerships.