Vancouver-based Payfirma, which develops mobile payment technology, announced that it is now processing more than $1 million per day.
Launched in early 2011, Payfirma counts thousands of merchants as clients, accepting credit cards through mobile, e-commerce and in-store payment applications.
Payfirma was the first company in Canada to launch a mobile point of sale application and swiper for iPhone and BlackBerry.
Payfirma founder and CEO Michael Gokturk said, “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 used by businesses that typically have yet to accept credit cards, such as musicians, artists and plumbers.
“There is a massive greenfield market to help businesses accept credit cards,” said Gokturk.
“Of the approximately 30 million businesses in North America, only nine million currently accept credit cards. Although there is a small cost for businesses to accept credit cards, our merchants see 30%-plus spikes in their sales because they now accept plastic.”
For more on Michael Gokturk, check out the 2011 BIV Forty under 40 winners (issue 1157; December, 2011-January 2, 2012).
Jennifer Harrison
@JHarrisonBIV