Thursday, May 10, 2018
"We brought CardConnect and BluePay into the First Data family to evolve our ISV business into being a world-class offering," said Frank Bisignano, chairman and CEO at First Data. "Combining these two organizations is the natural next step in furthering our momentum in the high-growth ISV space."
For the hundreds of ISV partners working with CardConnect and BluePay, the blending of the two organizations is expected to provide added functionality without requiring changes to existing technical integrations, First Data noted.
The CardConnect merger agreement, completed in July 2017, brings $26 billion in annual processing volume for 67,000 merchants through distribution partners. CardConnect developed its CardPointe platform, CoPilot distribution partner management portal and CardSecure omnichannel payment-ERP system integration tools for small-to-midsize and enterprise-level clients.
With the acquisition of BluePay in December 2017, First Data advances software enablement in the card-not-present space. BluePay represents 77,000 U.S. and Canadian merchants processing $19 billion annually and offers integrations with over 450 software platforms. Combining multichannel interfaces, CRM and ERP software integrations, BluePay delivers business-to-consumer and business-to-business payment processing.
According to First Data, the two companies merged their technology, operations and sales teams to accelerate development of new ISV-focused technology and deliver increased value to software partners. Teams will focus on delivering APIs and SDKs for omnichannel payments, PCI-certified point-to-point encryption and tokenization, partner onboarding and portfolio management, transaction and residual reporting, and programs targeted at driving merchant adoption.
"CardConnect and BluePay partners have already experienced immediate benefits from the size and scale of First Data," said Jeff Shanahan, CEO at CardConnect. "Rapidly adding value to our ISV platform remains a priority, and it's something that will only continue as we work with BluePay to tap into First Data's international capabilities and powerful line of Clover products."
BluePay CEO Bala Janakiraman added, "This move will make CardConnect's powerful partner portal, CoPilot, accessible to our partners who have integrated to the BluePay Gateway, allowing them to continue to thrive. In addition, CardConnect partners will benefit from BluePay's robust gateway, fraud management tools, account updater, and an expansive selection of payment plugins for business management software in a variety of verticals."
CardConnect and BluePay will consolidate their offerings under the CardConnect brand, creating a single home for First Data's integrated solutions. BluePay's payment gateway will continue to be a key platform providing additional integrated solutions. For more information about First Data's ISV solutions through CardConnect, visit cardconnect.com/isv.
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