Process of Payment Processors Defending Themselves?

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Payments companies continue to be some of the most highly valued businesses in fintech. They had notable exits in 2019, including Visa’s pending $5.3 billion acquisition of Plaid and the IPO of Bill.com, a $4 billion (market value) business-to-business payment processor that has doubled in value since it went public in December 2019. Last year, payments startups attracted a gusher of funding, taking in $15 billion globally, a 20% jump over 2018 and more than one quarter of all fintech funding, according to Accenture.

Nine payments companies made our Fintech 50 list this year. They range from a San Francisco startup that lets businesses keep a greater share of the processing fees that merchants pay to a Boston venture that provides restaurants with credit card readers, reservation software and loans of up to $250,000.

Here are the payments companies that made the Forbes Fintech 50 in 2020:


Fattmerchant

Today In: Fintech

Headquarters: Orlando, Fla.

Small businesses have traditionally had to use different vendors to process credit card transactions in-store and online, and a separate tool if they want to analyze their sales. Fattmerchant bundles these services into one product for a monthly subscription rate that it says ends up costing users 30% to 40% less than traditional processors’ per-transaction charges.

PROMOTED

Funding: $18 million from Fulcrum Equity Partners; latest valuation of $140 million

Bona fides: Processed $2.3 billion in transactions in 2019 for 5,000 customers, including BMW dealerships and Pearle Vision stores

Cofounders: CEO Suneera Madhani, 32; president Sal Rehmetullah (Madhani’s brother), 30; CTO Jacques Fu, 34; chief strategy officer Lyndsey Lang, 27

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eDataPay handle direct Mids merchant account for merchants and Sub Merchants underwriting process, Risk Management, Gateway and eCommerce API integrations work and design relieving acquirers from the need to perform related administrative procedures.

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