Payfirma

About Payfirma

Payfirma Corporation, established in 2010 by Michael Gokturk, is a financial technology company headquartered in Vancouver, Canada. Gokturk, an experienced entrepreneur who previously founded and took public another payments company, VersaPay, launched Payfirma to simplify the payment process for businesses. His background in investment banking and experience with his prior venture highlighted a need for more flexible and accessible payment solutions, leading to Payfirma's creation.

The company provides a multi-channel payment platform that enables businesses to accept credit and debit card payments across various environments: in-store, online, and via mobile devices. Its target clients are primarily small to large businesses across North America. Payfirma's business model centers on providing a combination of hardware and software solutions for payment processing, earning revenue from these services.

The core of Payfirma's offering is its PayHQ platform, which consolidates transaction data from different channels into a single place. This platform includes a suite of tools such as a web terminal for online payments, digital invoicing, and automated recurring billing for subscriptions and memberships. For in-person transactions, the company offers traditional point-of-sale (POS) terminals and mobile payment solutions that turn smartphones into card readers. A key feature is the provision of a payment analytics tool, which generates reports on customer purchasing patterns and trends to help businesses make informed decisions. The company also provides an API for businesses to integrate the payment software into their own applications and systems.

In February 2018, Payfirma was acquired by Merrco, a payments company specializing in the cannabis sector. Following the acquisition, Payfirma continued to operate as a subsidiary, combining its broader payment processing capabilities with Merrco's specialized industry focus. Subsequently, Merrco has rebranded to KORT Payments.