CardConnect® is a rapidly growing payments technology company founded in 2006. We offer a suite of solutions focused on the ever-evolving needs of merchants accepting credit, debit, check, gift cards, and loyalty transactions.
Trusted by more than 50,000 businesses, ranging from Fortune 500 companies to independent coffee shops, CardConnect’s proprietary gateway and patented tokenization make payments simple, integrated and secure.
In addition to many strategic partnerships, CardConnect has grown steady through nine expertise-adding acquisitions and now processes billions of transactions each year.
Financial Transaction Services (FTS), now known as CardConnect, was founded in Cleveland back in 2006. That same year, CardConnect’s payment gateway was validated as PABP Compliant under Visa’s Payment Application Best Practices program. We also acquired Aliant Financial Services of Sarasota, Florida.
Our payment gateway officially became validated as PCI-DSS Compliant and was listed as an approved solution on Visa’s Service Provider Registry. The year prior marked our gateway’s validation as PA-DSS Compliant as well as the year we were added to the PCI Security Standards Council’s website.
In the years in between, we acquired three other companies—Boaz Payment Systems of Atlanta, Allied Bancard of Chicago, and Optimal Card Present Business Unit of Detroit.
In 2012, CardConnect and 20+ employees packed up everything and relocated from Cleveland to King of Prussia, right outside Philadelphia. The move wasn’t the only big thing happening—2012 was the year our payment gateway became the first Oracle-Validated Integration for payment acceptance and security. This was also a big year for our P2PE-enabled PANPad, which received the Security Products Guide’s Global Excellence Award.
We celebrated four acquisitions, including Princeton Payment Solutions, Charge Card Systems of Boca Raton, Marathon Solutions of Kansas, and Dependable Payment Processing and Discount Payment Processing of Pittsburgh. We acquired Efficient Payment Processing of Chicago the previous year in 2011.
With the hard work of Rush Taggart, CardConnect developed a proprietary solution for point-to-point encryption (P2PE) in response to the security risks associated with point-of-sale transactions. That same year, our unique tokenization process received a United States patent.
We celebrated with a makeover. Financial Transaction Services rebranded as CardConnect, a harkening back to the name of our payment gateway. This was also the year we acquired SmartPay, a sleek, out-of-the-box Virtual Terminal solution offering paperless billing and best-in-class security.
CardConnect today looks quite a bit different from FTS in 2006. We’ve grown our family, made lasting partnerships, and have achieved innovation in payment acceptance unlike anyone else—and we have no plans to stop soon.
In May, CardSecure was awarded P2PE Validation by the PCI Council, becoming the only solution that can provide true Point-to-Point Encryption to both card-present and card-not-present environments.