KORT Payments

What KORT Payments does

KORT Payments is a Toronto-based specialized omnichannel payment platform serving merchants, Independent Sales Organizations (ISOs), Independent Software Vendors (ISVs), and financial institutions across the US and Canada. The company emerged in July 2024 when a management team of former Paysafe executives, including co-founder Joel Leonoff (Chairman) and Danny Chazonoff (President and COO), took over Merrco Payments and rebranded the entity as KORT Payments. The leadership group brings over 200 years of combined payments experience and a track record of executing more than $7 billion in payments M&A, including organizing Paysafe's $4 billion sale to Blackstone and CVC in 2017.

KORT's technology stack is anchored by KORTex, an enterprise-grade payment orchestration platform that supports unified processing across ecommerce, mobile, point-of-sale, and recurring billing through a single API. The flagship product, PayHQ, handles authorization, settlement, and funding under a single merchant number, and is complemented by add-on modules including Hosted Pay, Invoicing, Recurring Billing, Web Terminal, EFT, BNPL, and a Dual Pricing program. The company is a registered ISO of Woodforest National Bank and Chesapeake Bank, providing multi-sponsor-bank flexibility for US and Canadian merchant processing. Through the September 2024 acquisition of Barnet Technologies, KORT added regulated-industry POS capabilities, and through the February-March 2025 acquisition of Paysafe Direct LLC's direct marketing business, KORT established its US market presence and inherited reseller contracts and merchant portfolios.

KORT generates revenue primarily through transaction-based take rates (card processing starting at 1.99% + $0.25 per transaction), supplemented by monthly account fees, hardware sales (NFC terminals from $30/month), cross-border/international card fees, BNPL economics, and one-time setup and professional services fees. Its go-to-market operates across three channels: an ISO/agent channel using the APEX partner portal with white-label tools and revenue share; an API-first ISV channel targeting embedded payments in healthcare, automotive, travel, and B2B services via the unified KORTex gateway; and a direct merchant sales motion focused on omnichannel and high-risk verticals including cannabis, retail, beauty, hospitality, and professional services. Strategic partnerships with Tilled Inc. (ISV embedded payments), Paythings (smart safe cash automation), and several Canadian credit unions and banks (white-label PayHQ distribution) extend KORT's distribution surface beyond its direct sales capacity.

Name

KORT Payments

Legal name

KORT Payments Inc.

Website

https://kortpayments.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

KORT Payments is a Toronto-based specialized omnichannel payment platform serving merchants, ISOs, ISVs, and financial institutions across the US and Canada. Founded in 2024 by former Paysafe executives, it provides unified payment processing via its KORTex orchestration platform and PayHQ product suite.

Ownership category

akta.pro rank

Product category

Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH)

Keywords

• Omnichannel payment processing
• Merchant services
• Embedded payments API
• ISO partner program
• Payment orchestration platform

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Payment Processing & Transaction Fees: KORT earns revenue primarily through transaction fees charged on each payment processed. This includes card-present, card-not-present, ecommerce, and recurring billing transactions across all supported payment methods including credit cards, debit cards, mobile wallets, and ACH/EFT.
2. Monthly Account Fees: Monthly fees cover card processing statements, account maintenance by Customer Success team, and access to multiple payment channels. Optional NFC-enabled terminal hardware starts at $30/month.
3. Hardware Sales: Sale of payment terminals and smart devices including PAX devices for POS integration. Hardware is offered at partner pricing for ISO/agent partners.
4. Cross-Border/International Fees: Fees charged when customers pay with cards issued outside of Canada or the US, representing additional revenue from international transactions.
5. BNPL (Buy Now Pay Later): Buy now, pay later options offered to merchants' customers. Merchants receive payment upfront while customers enjoy installment payment flexibility.
6. Professional Services & Setup Fees: One-time setup fees may apply for new merchant accounts. Additional services include custom integration and onboarding support.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

KORT Payments operates PayHQ, a unified omnichannel payment platform that handles authorization, settlement, and funding for merchants across in-person, online, and mobile channels through a single merchant number. The company distributes primarily through ISO/agent and ISV/software partner channels, also offering white-label payment solutions to credit unions and banks, with add-on capabilities including hosted pay pages, invoicing, recurring billing, BNPL, EFT, dual pricing programs, and payment terminals.

Product overview

KORT Payments is a specialized omnichannel payments platform providing enterprise-grade compliance, risk management, and payment processing. The core product is PayHQ, a unified platform handling authorization, settlement, and funding across in-person, online, and mobile channels with a single merchant number. The product ecosystem includes Hosted Pay (secure payment pages), Invoicing, Recurring Billing, Web Terminal, EFT, BNPL, and White Label Platform as add-on modules. Barnet POS (acquired 2024) provides POS systems for regulated industries. Gateway & APIs enable developer integration, supported by Partner Portal and Dashboard & Reporting tools.

Differentiator

Problem solved

Functional benefit

Brands

• PayHQ: A robust, end-to-end payment solution that handles authorization, settlement, and funding. It enables merchants to accept payments in-person and online, with features like invoicing, recurring billing, and seamless integrations—all on one platform.
• KORTex

Products and services

• PayHQ

Quantifiable outcome

• 85-90% reduction in cash float with next-day deposit for retailers using Paythings smart safes
• +2 more outcomes

Named customers7 records

Segments9 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered secondary, core and legacy.

• PaythingssecondaryStrategic or Co-development Partner · 28 May 2026Partnership to bring Paythings' AI-powered smart safe technology and cloud platform to Canadian retailers. KORT extends Paythings' cash automation capabilities to retailers across Canada, enabling next-day deposit, real-time cash visibility, and reduced manual handling for multi-location operations.
• Tilled Inc.coreStrategic or Co-development Partner · 8 July 2025Strategic long-term partnership to deliver unified embedded payments experience to ISVs across the United States and Canada. KORT's enterprise-grade payment stack integrates with Tilled's PayFac-as-a-Service technology platform to provide omnichannel payment capabilities for ISVs in digital commerce, healthcare, automotive, travel, and B2B services sectors.
• Paysafe Direct LLCcoreStrategic or Co-development Partner · 11 February 2025KORT acquired substantially all assets related to Paysafe's direct marketing payment processing business line (Paysafe Direct LLC). The transaction includes reseller and merchant contracts, technology, and key employees, marking KORT's entry into the US market. Deal structured primarily as annual earn-out payments over five years.
• Barnet TechnologiescoreStrategic or Co-development Partner · 12 September 2024KORT acquired Barnet Technologies, a Canadian software company specializing in POS systems for regulated industries including the liquor industry. The acquisition integrates Barnet's technology with KORT's payment platform to enhance service offerings, accelerate growth, and create new revenue streams through combined POS and payment solutions.
• DutchiesecondaryTechnology or IntegrationCannabis e-commerce platform integration with KORT Payments. Dutchie partners report smooth transitions to online payment processing with seamless click-and-collect implementation.
• BuddisecondaryTechnology or IntegrationWellness mobile app partnership providing seamless onboarding and reliable payment solutions. Buddi represents KORT's expansion into wellness and subscription-based business models.
• CWB (Canadian Western Bank)secondaryChannel Partner/ Reseller/ DistributorStrategic partnership with Canadian Western Bank to deliver payment solutions to CWB clients. KORT operates as a vendor offering solutions to other CWB clients that may not be served directly by the bank.
• Gratify PaysecondaryTechnology or IntegrationIntegrated BNPL solution for Canadian dispensaries and SMBs. Partnership brings next-generation embedded finance capabilities to KORT's merchant network.
• Your Neighbourhood Credit UnionsecondaryChannel Partner/ Reseller/ DistributorReferral partnership generating seamless onboarding and customer support experiences. Partnership continues to produce referral opportunities in conjunction with KORT as ultimate payment processing solution.
• Woodforest National BankcoreOthersKORT Payments is a registered ISO of Woodforest National Bank, The Woodlands, TX. Primary sponsor bank relationship enabling US merchant processing.
• Chesapeake BankcoreOthersKORT Payments is a registered ISO of Chesapeake Bank, Kilmarnock, VA. Additional sponsor bank relationship providing flexibility for merchant processing across US markets.
• MerrcolegacyOthersMerrco Payments, rebranded as KORT Payments. Merrco represents the predecessor company prior to July 2024 rebrand, now operating under KORT Payments brand identity.

Scale indicators8 records

Recent moves5 records

Expansion highlights7 records

Broad incumbents

• Stripe: Global payment processor and gateway serving online and omnichannel merchants via APIs and embedded finance. Comparable to KORT's gateway, API-first ISV, and direct merchant processing motions, but at vastly larger scale and capital base.
• Adyen: Enterprise-grade unified payments platform serving omnichannel merchants globally with a single API and merchant account. KORT's KORTex orchestration platform and unified merchant number concept directly mirrors Adyen's architecture.
• Block (Square): Integrated payments, POS, and merchant services provider serving SMBs and omnichannel merchants. Comparable to KORT across POS, in-person and online payments, and SMB merchant processing.
• Fiserv (Clover): Major incumbent payments and POS platform with Clover hardware/software ecosystem serving SMBs. Comparable to KORT's POS-plus-payments stack (Barnet POS + PayHQ) in the SMB merchant market.

Direct peers

• Paysafe: Direct-marketing and online payments specialist serving high-risk verticals, e-commerce, and ISVs. KORT acquired Paysafe Direct's processing business in 2025; many KORT executives are Paysafe alumni, and both serve highly overlapping vertical and partner profiles.
• Helcim: Canadian-headquartered payment processor serving SMBs across North America with transparent pricing and integrated gateway. Closest geographic and SMB-segment competitor to KORT, with overlapping Interchange Plus, Flat Rate, and dual pricing models.
• Stax by Fattmerchant: Subscription-based payment processor targeting SMBs and ISVs with transparent Interchange Plus pricing and omnichannel capabilities. Comparable to KORT's transparent pricing strategy and SMB/ISO focus.
• NMI: Embedded payments gateway and orchestration platform serving ISVs and ISOs with white-label payment enablement. Directly comparable to KORT's ISV/ISO channel strategy and unified API orchestration.

Regional players

• Moneris: Canada's largest payment processor serving merchants with POS, gateway, and omnichannel solutions. Direct competitor to KORT in the Canadian market, with similar merchant segments and multi-channel processing capabilities.

Emerging players

• Tilled: PayFac-as-a-Service platform enabling ISVs and SaaS companies to embed payment processing. KORT's strategic partner but also a partial competitor in the embedded payments space targeting ISVs in healthcare, automotive, and B2B services.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kort-payments

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KORT Payments