CFSB Adds Transaction Acquisition to Its Range of Services
New York-based CFSB, Member FDIC, is renowned for its work with Fintech companies and global payment solution providers. The bank has empowered its partners to issue millions of debit, gift, and prepaid cards while offering white-label banking solutions. This partnership with PayFacto enables CFSB to expand its services by adding merchant acquiring to its portfolio, targeting emerging sectors and offering customized payment solutions.
PayFacto’s Expertise in Payment Processing
PayFacto is one of Canada’s largest non-bank payment processors, serving over 30,000 merchants with integrated payment solutions. Its recent acquisitions of Maitre’D and Veloce have strengthened its U.S. presence, providing services to over 4,000 merchants and 50 resellers in the hospitality industry. PayFacto brings extensive expertise in card-present and card-not-present payment processing, positioning itself as a key partner in CFSB’s new venture.
Leadership Insights
Martin Hyman, President of CFSB:
“Selecting the right partner to help us bring an enhanced and unique value proposition to the market was the main factor in our decision. PayFacto’s leadership in Canada’s payment space and their established U.S. presence make them the ideal partner to launch our merchant acquiring division and differentiate us from the market.”
Martin Leroux, President and CEO of PayFacto:
“We are honored to partner with CFSB, an institution that shares our values and solution-driven approach to payments. This partnership is a transformational opportunity to replicate our Canadian success in the U.S. market and accelerate PayFacto’s growth as a North American payment processor.”
Strategic Benefits of the Partnership
The collaboration between CFSB and PayFacto combines their complementary strengths:
- CFSB’s Established Network: A trusted issuing bank with deep Fintech experience.
- PayFacto’s Payment Expertise: Proven capabilities in providing flexible and scalable solutions. This synergy enables CFSB to pivot its merchant acquisition efforts quickly and address emerging opportunities with tailored, innovative payment solutions.
About CFSB
Headquartered in Manhattan, CFSB is a federally chartered, full-service bank specializing in payment processing sponsorships for Fintech companies. With a focus on compliance and technology, CFSB enables global payment solutions for innovative financial organizations. Learn more at cfsb.com.
About PayFacto
PayFacto is a leader in payment solutions and hospitality technology, with operations in Canada, the U.S., the U.K. and France. Recognized for its expertise and agility, PayFacto offers a wide range of payment processing and technology solutions to help businesses efficiently manage electronic transactions. Visit payfacto.com for more information.
For More Information
CFSB
Dennis Day, Director of Card Services
Email: dday@cfsb.com | Phone: 646-929-8117
PayFacto
Justin Meloche
Email: jmeloche@national.ca | Phone: 514-995-9704
