Singular platform with multiple paths to prosperity

Kayla Mackenzie

• Senior Communications Manager
• kmackenzie@solapayments.com
• 470.786.3233

Sola is headquartered in Brooklyn, New York. Originally founded as Fidelity Payment Services in 1996, the company established its roots in merchant acquiring and later incorporated in 2013 as Cardknox Development Inc. Over the ensuing three decades, the company evolved from traditional acquiring into a proprietary gateway and modern, integrated payments platform.

In 2024, Fidelity Payment Services and Cardknox unified under the Sola brand, reflecting sun, clarity and simplicity across its distribution, gateway and PayFac capabilities. The rebrand combines distribution strength with modern gateway and PayFac infrastructure to better serve partners, merchants and the broader payments ecosystem.

Time-tested leadership

Today, Sola’s approximately 180 employees and executive team are led by CEO Michael Reed, a seasoned executive whose leadership experience includes First Data, Bank of America Merchant Services, Barclays and Deluxe.

“Sola is building something different from both traditional processors and newer PayFac platforms,” Reed said. “Rather than forcing a single model, we focus on giving partners real choice, meeting them where they are today and helping them evolve their payments strategy over time.” Reed added that Sola helps merchants, platforms and partners onboard quickly and operate smoothly through a portfolio of flagship products and services, including:

• Omni-channel payment processing
• Proprietary gateway technology
• PayFac-as-a-Service
• Merchant onboarding, risk, compliance and support services
• AI-powered capabilities embedded across the platform
• Tokenization, routing optimization and chargeback management

Profitable partnerships

Sola software partners have the payments infrastructure, adaptability and operational backing to embed payments, create revenue streams and scale alongside their customers.

Its developer portal provides detailed documentation, sandbox environments and integration guides, enabling partners to embed payments, earn residual revenue on processing and expand into subscriptions, gift cards, ACH and reporting, turning payments from a cost center to a margin driver. Sola increasingly uses AI to automate onboarding, risk management, support and reporting, allowing teams to remain focused on their core products. Purpose-built capabilities for select industries help partners expand where generic platforms struggle.

Sola gives partners multiple options for bringing payments to market. Whether a software partner prefers a referral model, revenue share or full PayFac economics, Sola supports the path that best fits the business and allows it to evolve as it grows.

Solutions, not just features

Sola owns its omni-channel gateway and uses payment orchestration to connect devices, channels and processors. As a result, partners are not locked into a single processing model and can route payments and data accordingly.

Rather than relying on a one-size-fits-all platform, Sola develops targeted capabilities by vertical market, including grocery, car rental and car wash, aligning product development, certifications and go-to-market strategy around real industry needs.

Internally, the company is shifting from selling disconnected value-added services to packaging practical solutions, such as membership management, loyalty and orchestration bundles, that address specific business challenges. Sola is intentionally built to serve both ends of the market, from software-driven ISVs to more service-oriented ISO merchants, without forcing either group into a single model.

Sustainable growth

Sola’s product roadmap includes advancing its AI-driven platform to improve underwriting, reporting, developer experience and operational workflows while continuing to invest in additional capabilities.

The company is also bringing new solutions to market based on real-world customer needs and strengthening its go-to-market strategy through targeted industry campaigns and broader solution packaging. Additional priorities include expanding orchestration and value-added services, enhancing data, reporting and enterprise capabilities, and growing its geographic footprint and talent base, including expansion in Atlanta.

Emphasizing the company’s commitment to the future, Reed said Sola is launching an internship program designed to provide emerging professionals with real-world experience while helping cultivate the next generation of payments industry talent.

“At our core, the mandate is simple: build a platform that works in the real world, for real customers, and execute consistently against it,” Reed said.

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