Fortis has also launched a Secondary Amount feature to allow integrated software partners to assess and collect platform fees when processing payments through its solutions. Secondary Amount is available in the Fortis API suite and through the company’s hosted experiences. Software partners can designate a platform or other type of fee to be assessed as part of a single transaction and deposited separately. The single authorisation and split settlement capability is critical for high-performing marketplace partners.
Fortis also acquired embedded payment solution provider SmartPay, which has strong partnerships in the enterprise software and ERP ecosystems. SmartPay was founded to bring enhanced technology solutions to the small business community. The acquired company’s founders will join the Fortis leadership team as part of the acquisition. MAPP Advisors acted as advisors to SmartPay for the transaction.
The SmartPay acquisition gives Fortis access to a skilled team of integrated payments professionals and enables the company to leverage the strong relationships SmartPay built, strengthening Fortis’ ability to serve scaling client businesses in complex markets.
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