US paytech company Fortis has expanded into Canada and acquired SmartPay, an embedded payments provider. This move allows Fortis to offer its payment technology to Canadian software platforms and businesses, providing credit card processing, Interac debit acceptance, and soon electronic funds transfer (EFT) for B2B and recurring payments clients. Fortis has also launched a new settlement feature called Secondary Amount, enabling integrated software partners to assess and collect platform fees separately.
Facts
- Fortis expands into Canada and acquires SmartPay, an embedded payments provider.
- Fortis can now offer its payment technology to Canadian software platforms and businesses.
- Fortis’ solutions include credit card processing and Interac debit acceptance.
- Electronic funds transfer (EFT) for B2B and recurring payments clients will be available soon.
- Fortis introduces a new settlement feature called Secondary Amount for assessing and collecting platform fees separately.
- Fortis acquires SmartPay, leveraging its partnerships in the enterprise software and enterprise resource planning (ERP) ecosystems.
- SmartPay founders and former managing partners, Mike Sheffey and Nate Schloss, join Fortis’ leadership team as part of the acquisition.
