Vancouver’s Payfirma has announced a new milestone in its rapid growth. Having launched in early 2011, Payfirma is now processing more than $1 million per day across its thousands of merchants accepting credit cards through mobile, ecommerce and in-store payment solutions.
The Company first came to market as a technology start-up in 2011 but now is shaping to be an industry leader, revolutionizing payments by leveraging mobile and internet platforms. Payfirma was the first company in Canada to launch a mobile point of sale application and swiper for iPhone & Blackberry in early 2011. Founder and CEO Michael Gokturk says, “the payment industry has made things complex and opaque for businesses. We are here to make it simple, transparent, and personable.”
Payfirma’s mobile solution is being rapidly adopted by businesses that typically have yet to accept credit cards, such as musicians, artists, plumbers, and service oriented companies. Gokturk says, “There is a massive greenfield market to help businesses accept credit cards. Of the approximately 30 million businesses in North America, only 9 million currently accept credit cards. Although there is a small cost for businesses to accept credit cards, our merchants see 30%+ spikes in their sales because they now accept plastic.”
With significant releases coming up in the pipeline for 2012, payment simplicity will reach a new level as Payfirma’s product teams deliver tablet-based point of sale systems, NFC payments, and business analytics. “Our new products planned for 2012 are going to reinvent the payment industry and how businesses interact financially with one another,” said Gokturk.