PayFacto

PayFacto operates as a specialized provider of payment processing and hospitality technology solutions, with a strong presence in Canada, the United States, and the United Kingdom. The company was officially founded in 2018 through a strategic merger of three distinct entities: B2Billing, CT-Payment, and Supreme Payments. This event marked a significant consolidation of expertise within the Canadian payments sector.

The company's leadership includes Martin Leroux as Chairman and CEO, and Frédéric Gascon as President and COO. Leroux has over two decades of experience in the payments industry and founded B2Billing in 2014 after a 14-year tenure at Paysafe Group. Gascon brings a diverse background from senior executive and consulting roles across various industries, including working for McKinsey & Co and Bombardier Transportation.

PayFacto's business model is centered on providing a comprehensive suite of integrated services for merchants of all sizes. Revenue is generated from payment processing fees and the sale of its Software-as-a-Service (SaaS) point-of-sale (POS) systems. The company serves a broad client base, including individual merchants, Independent Sales Organizations (ISOs), and Independent Software Vendors (ISVs), with a particular focus on the hospitality industry. Its proprietary payment gateway is agnostic, supporting a wide range of credit and debit cards, including Visa, Mastercard, AMEX, and Interac, for both in-person and online transactions.

A core component of PayFacto's offering is its suite of POS systems, notably Maitre'D and Veloce, which were added through strategic acquisitions. Maitre'D is a feature-rich system designed for managing single and multi-location businesses, while Veloce is also a specialized POS solution for the restaurant sector. In 2020, PayFacto launched VelPay, an all-in-one mobile POS and payment device, enabling staff to take orders and process payments tableside. The company's product portfolio also extends to online ordering systems, self-service kiosks, kitchen management systems (KDS), and secure pay-at-the-table solutions.

Growth has been significantly driven by acquisitions. In 2020, PayFacto acquired Posera Ltd. (provider of Maitre'D) and Resto Finances Inc. (creator of Veloce). This was followed by the acquisition of iShopFood Inc. in 2022 to enhance its online ordering capabilities. In 2023, the company acquired NEOPOS Inc., a major distributor of restaurant POS solutions in Quebec, further solidifying its market position. This expansion has been supported by significant funding, including an equity investment of up to C$150 million in 2021 led by Flexpoint Ford and BMO Capital Partners. Keywords: payment processing, hospitality technology, point-of-sale, POS systems, Maitre'D, Veloce, payment gateway, merchant services, restaurant tech, online ordering, SaaS, FinTech, payment facilitator, pay-at-the-table, B2Billing, CT-Payment, Martin Leroux, Frédéric Gascon, integrated payments, KDS, kitchen display system, mobile POS, VelPay, NEOPOS, Posera