PHILADELPHIA--(BUSINESS WIRE)--Financial Transaction Services (FTS), a fast-growing payment processing company that helps more than 45,000 U.S. businesses accept billions of dollars in payment transactions each year, has changed its name to CardConnect™, effective today. The change was made to better reflect the company’s mission: to make payment processing as simple and easy as possible, marrying personalized service with the most flexible technology platform available today.
The switch to the CardConnect name is not the only change for the company. It recently relocated its corporate headquarters to King of Prussia, Pa. from Cleveland, Ohio, bringing more than 50 jobs to the Philadelphia region. Twenty-five employees moved with the firm, and another 25 new employees joined CardConnect after its relocation. The company – which employs more than 90 people across Boca Raton, Fla., Chicago, Ill., Cleveland, Ohio, Kansas City, Kan., and Philadelphia and Pittsburgh, Pa. – expects to double the size of its Philadelphia staff over the next two years.
In addition to its new name and location, CardConnect has unveiled a payment technology platform that enables clients to accept payments directly through any type of business management software; a key feature of the technology is its ease of integration into Oracle and SAP systems. CardConnect currently serves many Fortune 500 clients, including Adobe, The New York Times and AmeriGas.
“From the start of our business, we’ve prided ourselves on making payment processing as straightforward and easy as possible for merchants,” said Jeff Shanahan, president of CardConnect. “As CardConnect, we can further achieve that mission by having a more easily recognizable company name and user-friendly payment tools and technology. We’re excited for this new chapter and look forward to continue growing as CardConnect in the Philadelphia area.”
Since its founding in 2006, CardConnect has grown to process more than $11.5 billion annually in transactions for its clients’ goods and services. In 2010, CardConnect received a $50 million growth equity commitment from FTV Capital, a multi-stage private equity firm that has a successful track record investing in high-growth payments and transaction processing companies. Today, CardConnect is one of the 10 largest independent sales organizations (ISOs) of First Data Merchant Services, the largest electronic payment processor in the world.
CardConnect (www.cardconnect.com) is a full-service provider of electronic payment technology and processing services for merchants, independent sales organizations (ISOs) and financial institutions. It helps more than 45,000 businesses across the U.S. accept billions of dollars in bank card transactions each year. CardConnect offers a comprehensive line of solutions for credit and debit cards, gift cards, electronic check conversion, verification and guarantee, as well as terminal services, online Payment Gateway Solutions, ERP Integration and PCI Compliance. Founded in 2006, CardConnect is one of the 10 largest independent sales organizations (ISOs) of First Data Merchant Services, the world’s largest electronic payment processor.