Reinventing Leading-edge Merchant Solutions
Launched in 2000, FreedomPay prides itself on being a pioneer in Next Level Commerce focused on solutions in the mobile, cashless, virtual and remote commerce arenas. In addition, the company offers intelligent analysis, promotions routing, incentives and customer relationship management services.
With offices in Philadelphia, Las Vegas and London, FreedomPay believes it is “the industry’s first TransAtlantic payments solution with integrations across top point-of-sale, device manufacturers and payment processors, supported by rapid application programming interface adoption.” FreedomPay also said it strives to make payments “faster, simpler, safer and smarter” with an expanded vision of “driving the future of commerce and customer interaction.”
Christopher Kronenthal, FreedomPay president and chief technology officer, concurred, adding, “FreedomPay was founded with the original vision of making mobile payments smarter,” he said. “Since then, we have evolved into a cashless company and are now a broadly adapted global commerce platform.”
FreedomPay offers a data-driven commerce platform that “delivers next-level performance for companies all around the world,” the company’s leadership team said, adding that it doesn’t “rip and replace” legacy merchant systems, but instead it “transforms a company’s existing systems from legacy to leading edge by surrounding and expanding the current technology footprint.”
According to Kronenthal, FreedomPay also boasts a 100 percent client retention rate, which he noted is attributed to “some key milestones, including the introduction of the first alternative payments network in 2004 and being the first fully functional point-to-point encryption (P2PE) solution in North America in 2014” — a fact demonstrated over the past 10 years by the company’s unprecedented zero attrition rate, he added.
Validated by the PCI Security Standards Council for P2PE, along with EMV, tokenization, contactless and dynamic currency conversion, FreedomPay noted it delivers secure commerce solutions and advanced value-added services to a variety of merchant sectors, including retail, hospitality, gaming, education, healthcare and financial services. FreedomPay also said its platform supports over 450 POS and payment management system integrations and offers “more than 99.9 percent system availability around the clock” and processes payments “in less than one second.” In addition, the platform recognizes and tracks nearly 10 million line-item stock keeping unit codes for clients in over 50 countries around the world.
Additionally, FreedomPay’s integrations are said to be seamless, with projects completed by the company’s development team in as little as four to six weeks. The platform also supports hot swappable devices, meaning no credentials live in the device; thus, supporting the need to change processors is as easy as a simple back-end update.
Always ready for market change
According to Kronenthal, FreedomPay’s Touchless Commerce program was the first contact-free program to get into the market to protect the safety of merchants and customers during the COVID-19 crisis, and the company continues to focus on expanding its cross-platform offerings. “FreedomPay continues to expand globally and at a rapid pace, and with headquarters in Philadelphia and London, the needs of our clients are opening doors into Asia-Pacific and other regions of the world,” Kronenthal said. The company also intends to better meet demands of the changing merchant marketplace by continually diversifying its products and pair functions that make it easier and more efficient to do business.
Kronenthal mentioned the company recently launched its Business Intelligence solution, which allows businesses to track and segment consumers and drive targeted incentives based on purchasing data. “We see a symbiotic relationship between data and payments that we plan to explore further throughout the year to best enhance the commerce operations of our clients,” he said. He further believes many merchants are serviced by providers that don’t have the capability to meet their business goals and enhance the consumer experience. “FreedomPay does just that by combining engagement methodology and the delivery model to unite disparate systems into one unified platform,” he said.
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