Login

NewTech Friday: Paysign – first-class payment services 11 June 2021

Mark Newcomer, CEO at Paysign, talks with Efma’s Boris Plantier about the innovations his company continually brings to the payments ecosystem. 
What led to the creation of Paysign?

Paysign was founded 20 years ago as a payment solutions company focusing on both the development of a secure payment gateway and associated consumer-facing hardware device which utilized encryption technology to facilitate PIN debit transactions over the internet. Our proprietary transaction processing solutions were provided through the issuance of prepaid debit cards, initially aimed at a variety of niche markets. We found our sweet spot quickly thereafter in the pharmaceutical marketing space – more specifically in the copay assistance arena – and focused our attention on providing additional services to the healthcare industry, which led us to source plasma collection compensation payments in 2011. Since then, we have grown this business vertical to become a market share leader and our solution is now found in over 35% of the source plasma collection centers in the U.S.

As we expand our market focus to other industries and develop solutions for new verticals, we stay true to our core mission of delivering programs, solutions, and processing that allow businesses to reduce their costs, streamline operations, and increase their revenue. We strive every day to bring new efficiencies to the payments landscape to better serve our clients.

Could you present Paysign's offer?

At Paysign, we provide prepaid card, digital banking, and integrated payment processing services designed for businesses, consumers, and government institutions. Founded in 2001 and headquartered in southern Nevada, we create customized, fully managed payment solutions for companies of all sizes and in all industries. Our product suites include versatile incentive and reward solutions, corporate expense management and disbursements, and modern digital banking solutions. Our core processing technologies are built and maintained 100% in-house and have logged unmatched system uptime. Our solutions are coupled with an exceptional consumer experience, complete with expedited direct deposit, cash back rewards, mobile app and 24/7/365 bilingual customer care. Our clients include well-known multinationals and Fortune 1,000 companies. We also offer affiliate and referral programs for businesses interested in integration or partnership. 

What's coming next for Paysign?

As payments industry veterans, our expertise has benefitted each of our clients through carefully tailored payments programs, innovative solutions, first-class service, and the secure technologies that power everything we do.

In addition to value-added features that will further motivate and reward consumers, our product roadmap is filled with enhancements to our business-facing platforms, management tools, and reporting engines that accomplish our primary mission of helping clients transform their cost centers into revenue centers by bringing new efficiencies to the payments ecosystem. We also continue to undertake new integration projects to seamlessly facilitate card issuing, management, and funding. 

Keywords:

Fintech Digital payments/Wallet

Geography:

USA