Canada's Square, Payfirma exceeds $1 Million Per Day in mobile payment processing

Posted by Rob Lewis

Vancouver's Payfirma announced today that it is now processing more than $1 million per day across its thousands of merchants accepting credit cards through mobile, ecommerce and in-store payment solutions.

Payfirma first came to market as a technology startup in early 2011 but now is shaping to be an industry leader, revolutionizing payments by leveraging mobile and internet platforms. 

Techvibes' readers will remember that Payfirma was the first company in Canada to launch a mobile point of sale application and swiper for iPhone & Blackberry and we refered to them as a "Square for Canada".

Founder and CEO Michael Gokturk says, “the payment industry has made things complex and opaque for businesses. We are here to make it simple, transparent, and personable.”

Payfirma’s mobile solution is being rapidly adopted by businesses that typically have yet to accept credit cards, such as musicians, artists, plumbers, and service oriented companies. Gokturk says, “There is a massive greenfield market to help businesses accept credit cards.  Of the approximately 30 million businesses in North America, only 9 million currently accept credit cards. Although there is a small cost for businesses to accept credit cards, our merchants see 30%+ spikes in their sales because they now accept plastic.”

2010 has been a big year for Payfirma, first launching on iPhone then on the BlackBerry. And according to Gokturk significant releases are coming up in the pipeline for 2012 as well. Stay tuned.

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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