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FinTech KindCard plans to acquire banking platform OpenTransact

By Delisha Fernandes

January 03, 2024

  • Banking Platform
  • Fintech news
  • FinTech USA

Kindcard, PayTech, Banking Platform, payments solutions, merchant, OpenTransact, risk management, payments-as-a-service, FinTech news, FinTech USA

Kindcard, a FinTech and PayTech company which provides alternative “Closed-Loop” payments solutions to businesses across a wide variety of merchant verticals, has announced it plans to purchase banking platform OpenTransact.

Michael Rosen, the Company’s CEO, said, “We believe that today’s announcement represents a significant opportunity to enhance our revenue and IP tech stack, and offer secure, all-in-one software and payments-as-a-service options to high-risk merchants that are seeking to manage their consumer website shopping experience and provide secure stable payment processing at checkout.”

OpenTransact is a self-serve banking platform designed to support high-risk businesses, which prioritizes security, risk management, and compliance within industry regulations. This powerful combination empowers merchants in the CBD, Nutra, Gaming, and other high-risk industries, to access a SaaS platform that seamlessly integrates cutting-edge payment solutions with best-in-class risk management tools

Through OpenTransact, merchants can swiftly integrate Cryptocurrency, ACH, Debit, and Credit Card payments into their existing Shopify, WooCommerce, and custom-built web shops, or use our platform to create dedicated micro-sites.

William Clark, OpenTransact’s founder and CEO, stated, “The opportunity to join forces with Kindcard represents an exciting potential new chapter for OpenTransact, with our shared vision to revolutionize the way we think about high-risk transactions, blending innovation within Kindcard’s visionary approach as an alternative payment provider.”

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