Payments paragon Fortis this month announced a foray into the Canadian market.
The move marks the financial technology firm’s first expansion beyond the United States.
Coinciding with this geographical expansion, Fortis also unveiled the acquisition of embedded payment provider SmartPay and consequently introduced new features to its platform, including funding and settlement capabilities to meet increasing demand.
Known for its proprietary technology, Fortis has been streamlining payment processes for U.S. software platforms and scaling businesses. In Canada, the fintech’s service will support omni-channel credit card processing and Interac Debit with electronic funds transfer coming soon.
With industry specializations spanning B2B, Hospitality, Healthcare, Specialty Retail, and eCommerce, Fortis’ platform provides partners with real-time insights and reporting tools. By combining secure payment modules and commerce solutions, Fortis facilitates transactions and tailored commerce experiences. And APIs ensure integration with clients’ existing payment software, notes Kevin Shamoun, senior vice president of product and innovation at Fortis.
“We are extremely proud of the strides we’ve made in the past few months in Product,” stated Shamoun.
Efforts will expand payment processing into new locations, he says, and also “improve the interaction of data between merchant and ISV, enhancing the user experience.”
The acquisition of SmartPay reinforces Fortis’ position in the market, equipping it with a team of integrated payments professionals, customer relationships, and tech capabilities.
SmartPay founders Mike Sheffey and Nate Schloss are set to join the Fortis leadership team, fortifying the organization’s dynamic.
“We are thrilled to be a part of the Fortis team,” Sheffey said. “Fortis’ continued growth over the past few years has made them an obvious choice for our next chapter.”
“Extending Fortis’ capabilities to all of our clients will be a great addition to our toolset and is going to do wonders for the future of embedded payments,” added Schloss.
“Mike and Nate will be invaluable additions to the Fortis team,” confirmed Fortis chief Greg Cohen.
As Fortis advances its journey North, the fintech joins a slew of payments pioneers pushing to empower Canadian businesses.
“We continue to prove that Fortis is the leader in embedded payments,” sated Cohen, “and this is just the beginning.”