The B2B Payments Hub for the New Economy Makes Complex Payment Transactions Simple, Offering Solutions Through Its Industry-Leading Secure Platform
Fort Lauderdale, FL – June 25, 2020 – Qolo, the B2B payments hub for the New Economy, has launched its industry-first all-in-one payments solution. The company’s mission is to enable businesses to more effectively operate in today’s complex payments world by providing comprehensive functionality, improved economics and quicker time to market.
In 2018 Qolo was founded to deliver flexibility, security, speed, and round-the-clock accessibility to receive, send, transfer or exchange money. It is a platform built to meet today’s business demands and its next-generation core system is built from the ground up to power the future of payments. Qolo supports companies wherever speed, security and cost of payment are important including gig worker pay-outs, neobanking and associated prepaid/debit cards, and complex segments such as wage access and international marketplaces. Qolo does this through modern functionality such as advanced card processing, cross-border/foreign exchange capabilities, and a rules-based, flexible account structure.
“We deliver a holistic approach to payments,” said Qolo CEO Patricia Montesi. “By offering all this functionality on one platform, we enable our clients to own the payments P&L. And our unique mix of capabilities allows us to create solutions never before seen in our industry.”
Qolo’s founding team has a deep legacy of industry firsts. They are experts and entrepreneurs in payments and have worked together across multiple companies for nearly 20 years. Designing, building and launching seven payment and loyalty platforms, they have also been issued numerous payment/IT-related patents. The team has taken more than 500 loyalty, prepaid card, and B2B payment programs to market, and is led by four founders, CEO Patricia Montesi, President Steven Bishop, Chief Product and Strategy OfficerDarren Beyer, and Robert Pincus, COO.
“Innovation is in our DNA, and we’ve put it to use building a company bent on driving enhanced and better payment practices for the New Economy by providing diverse functionality all on one platform – available through a single API interface,” said Montesi.
Utilizing the most sophisticated fraud detection systems available, Qolo’s patent-pending qoloCrypt technology secures data at the field level in the database, ensuring business data stays safe. QoloCrypt exceeds all GDPR and U.S. regulations on data security - safeguarding customer and financial data. Qolo offers real-time processing, SmartFX™, SmartWire™, multi-stage support, and a good-funds, multi-currency model.
The platform supports transaction processing across networks including Accel, AFFN, American Express, CO-OP, Interlink, Mastercard Banknet, Mastercard Cirrus, Mastercard Maestro, MoneyPass, NYCE, PLUS, Pulse, STAR, VISA.
Founded in 2018, Qolo is the B2B payments hub for the New Economy with a mission to help businesses navigate today’s complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payment are important including gig worker payouts, distribution payments, multi-currency and cross-border businesses and modern fintech firms. Composed of experts and entrepreneurs in payments, Qolo’s founding team has more than a century of combined industry experience. Learn more at https://qolo.io