Qualpay is a technology-first, cloud-based payments platform that combines a payment gateway with merchant processing solutions for merchants and independent software vendors (ISVs). Its platform helps ISVs embed payments into software and websites, provides reporting intelligence and data analytics, and aims to reduce costs and streamline back-office operations. Synovus Bank has signed an agreement to take a 60% ownership interest in Qualpay, subject to customary closing conditions and regulatory approvals. Qualpay plans to expand into new vertical markets and evolve toward platform-as-a-service and embedded finance capabilities, working with Synovus to support Maast, Synovus’s money-as-a-service offering. The partnership is intended to enable ISVs to offer payment processing, deposit accounts, debit cards, and loans under their brands backed by Synovus. The announcement does not disclose operating metrics or a transaction value. Qualpay provides a cloud-based payments platform that allows businesses to accept payments in-person, online, via mobile devices, over the phone, or through the mail. The company operates a multichannel merchant account and payment solution aimed at broad payment acceptance. Qualpay has established a Spokane Valley, Washington customer support center that delivers 24/7 help from live customer representatives. Led by CEO Craig Gass, the company is actively seeking and incorporating technologies to expand its service. Qualpay plans to use recent financing to expand its customer base. The article does not disclose operating metrics or prior funding details.

Total raised

$8M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2015