Fortis Expands Into Canada

Fortis, a payment and commerce technology leader for software providers, marketplaces, and scaling businesses, announces today it now offers its solutions in Canada, its first expansion outside the United States.

Fortis also announced the acquisition of embedded payments provider SmartPay and rolled out enhanced funding and settlement capabilities to meet rising demands from marketplaces and software platforms.

The Canadian expansion allows software platforms and businesses operating in that country’s market to leverage the proprietary technology once available only to U.S. clients. The Canadian roll-out supports omnichannel credit card processing and Interac Debit acceptance, with electronic funds transfer (EFT) will come soon.

Canadian customers can access the full suite of Fortis’ solutions through APIs that create a seamless integration to the customer’s existing payment software solution.

Fortis also has launched a “Secondary Amount” feature to allow integrated software partners to assess and collect platform fees when processing payments through its solutions. Secondary Amount is available in the Fortis API suite.

Software partners can designate a platform or other type of fee to be assessed as part of a single transaction and deposited separately. The single authorization and split settlement capability is critical for high-performing marketplace partners.

Embedded payment solution provider SmartPay has strong partnerships in the enterprise software and ERP ecosystems. SmartPay was founded to bring enhanced technology solutions to the small business community and brings its team, productive customer relationships and rich capabilities to Fortis.

SmartPay founders and former managing partners Mike Sheffey and Nate Schloss will join the Fortis leadership team as part of the acquisition.

MAPP Advisors acted as advisors to SmartPay for the transaction.

The SmartPay acquisition gives Fortis access to skilled integrated payments professionals and enables the company to leverage the strong relationships SmartPay built, strengthening Fortis’ ability to serve scaling client businesses in complex markets.

For more information, visit fortispay.com.

By Channel Vision Magazine | https://channelvisionmag.com/fortis-expands-into-canada/