LOS ANGELES, July 10, 2019 /PRNewswire/ -- Park Place Payments, the first fintech company with a direct sales force comprised of women, launched today and announced that it has raised more than $1 million in seed funding. The majority of investors in the round are female and people of color.
Park Place Payments is tackling two industry pain points. In an industry first, it has established a financial servicescareer path within direct sales for those who want to reenter the workforce. The company is also transforming a stagnant $8B payment processing industry historically plagued by massive churn, dated technology and a lack of pricing transparency. Park Place Payments provides small businesses with point-of-sales' next gen technology, pricing consistency and clarity, and proactive, premium customer service led by women who previously did not have a profitable career path when reentering the workforce.
"Park Place Payments offers real income potential and professional growth for those wanting to reenter the workforce," said Samantha Ettus, founder and chief executive officer, Park Place Payments. "We are also shaking up the stodgy, male-dominated multi-billion-dollar payment processing industry with best-in-class technology and superior, white glove customer service. This seed investment provides us with greater capacity and resources to bring Park Place Payments to women nationwide."
According to a Center for Talent Innovation study, 90 percent of women who left their jobs to either raise families or for other personal reasons want to reenter the workforce yet face daunting odds. More than 50 percent are unable to ever secure a full-time position again and most fall into stereotypical female direct sales industries like jewelry and makeup, in which they are generally paying to sell products vs. creating capital for themselves.
The company's "Account Executives" are guided through a specialized online education program, Park Place Academy, which is designed to have them trained, out in the field working with small businesses, and earning recurring revenue in quick succession. The company has been in beta for the last 12 months, with dozens of account executives working across major U.S. metropolitan markets, and hundreds of businesses on board.
Ettus is an entrepreneur and national bestselling author of five books. She has a nationwide network of tens of thousands of women who look to her for career and life advice. Ettus earned her BA and MBA from Harvard.
For more information, please visit www.parkplacepayments.com.
About Park Place Payments Park Place Payments is an innovative payment processing company with a direct sales force of women. The fintech company is helping to transform the stagnant ISO and payment processing industry, while providing an opportunity to achieve financial independence through a recurring revenue stream. Park Place Payments delivers the most up-to-date modern and easy-to-use POS solutions for small businesses, along with top service and a transparent pricing model.
For more information, please visit www.parkplacepayments.com. Follow Park Place Payments on Twitter and Instagram @parkplacepower
SOURCE Park Place Payments
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Source: Company press release.