Sphere Payments
Sphere Payments operates SphereCommerce, LLC (d/b/a TrustCommerce), a Chicago-based payment processor providing PCI-compliant, EHR-integrated omnichannel payment processing primarily to U.S. healthcare systems, with secondary exposure to ecommerce, parking/transportation, and nonprofit segments.
- Company typePrivate
- Founded1998
- HeadquartersNashville, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Sphere Payments does
Sphere Payments operates as SphereCommerce, LLC, doing business as TrustCommerce, and is a Chicago-headquartered software and financial technology company that provides secure payment processing services. Its core offering is the TrustCommerce Platform, an omnichannel payment processing system that supports pre-visit, point-of-care, and post-visit patient payments alongside merchant processing for ecommerce and parking/transportation clients. The platform differentiates through certified integrations with dominant U.S. electronic health record systems — Epic, athenahealth, Veradigm, and R1 RCM — embedding payment flows directly inside clinical and revenue cycle workflows, supported by PCI DSS, PCI-validated P2PE, HiTrust CSF, and EMV certifications.
The business earns revenue through a combination of transaction-based payment processing fees, recurring platform and SaaS access fees, and bundled compliance/security services including tokenization. Pricing is quote-based rather than publicly disclosed, with multi-year enterprise contracts negotiated through a direct enterprise field sales motion and an EHR partner channel that resells TrustCommerce to platform customers. SphereCommerce, LLC operates as a registered Independent Sales Organization / Merchant Services Provider for Merrick Bank and Wells Fargo Bank, providing the sponsor-bank rails required to process transactions. In 2020 the company extended its footprint by acquiring Health iPASS, and in 2024 TrustCommerce was acquired by RevSpring, a patient financial experience company, combining Best in KLAS-recognized patient engagement capabilities with enterprise payment gateway infrastructure.
Sphere Payments firmographics
Firmographics- Name
- Sphere Payments
- Legal name
- SphereCommerce, LLC
- Website
- https://spherecommerce.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- Sphere Payments operates SphereCommerce, LLC (d/b/a TrustCommerce), a Chicago-based payment processor providing PCI-compliant, EHR-integrated omnichannel payment processing primarily to U.S. healthcare systems, with secondary exposure to ecommerce, parking/transportation, and nonprofit segments.
- Ownership category
- akta.pro rank
Sphere Payments industry classification
Industry- Product category
- Healthcare Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
- akta.pro secondary industries
- Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH)
Keywords
Where Sphere Payments is headquartered
LocationHeadquarters
- HQ city
- Nashville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sphere Payments business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Processing Services: Transaction-based payment processing fees charged to merchants for processing credit/debit card payments. Revenue accrues per transaction across healthcare, ecommerce, and parking/transportation verticals.
- Platform/SaaS Fees: Recurring platform access fees for integrated payment processing capabilities, compliance tools, and reporting dashboards.
- Compliance & Security Services: Revenue from tokenization, P2PE, and PCI compliance solutions bundled with payment processing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise Healthcare |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Sphere Payments product offering
Product offeringCore offering
Sphere Payments operates the TrustCommerce secure payment processing platform, providing integrated payment acceptance and processing services primarily for healthcare providers, with additional support for ecommerce and parking and transportation verticals. The platform embeds payment processing directly into EHR workflows through certified integrations with Epic, Veradigm, athenahealth, and R1 RCM, supporting omnichannel patient payments pre-visit, at point-of-care, and post-visit via digital wallets (Apple Pay, Google Pay) and traditional card methods.
Product overview
TrustCommerce (now part of SphereCommerce, LLC) offers a unified secure payment processing platform designed primarily for healthcare, with additional support for ecommerce and parking & transportation verticals. The core platform encompasses Accept Payments, Merchant Processing, and Patient Engagement modules, with compliance and security add-ons including Tokenization and Validated P2PE. The platform integrates with major EHR systems (Epic, Veradigm, athenahealth) and supports omnichannel flexible payment methods including Google Pay and Apple Pay. TrustCommerce joined RevSpring in 2024, combining Best in KLAS patient financial experience with enterprise-grade gateway capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- TrustCommerce Platform A unified secure payment processing platform that delivers omnichannel payment acceptance pre-visit, at point-of-care, and post-visit for healthcare providers, with additional support for ecommerce and parking and transportation verticals. Includes tokenization, validated P2PE, EMV-certified processing, and EHR integrations.
- Merchant Processing Core payment processing services for merchant transactions, provided as an Independent Sales Organization/Merchant Services Provider registered with Merrick Bank and Wells Fargo Bank.
- Patient Engagement Healthcare-specific payment engagement solutions designed for providers, including omnichannel patient payment options (Apple Pay, Google Pay) and EHR-integrated billing workflows that reduce billing friction across the patient journey.
Quantifiable outcome
- Trusted by nation's largest healthcare systems for secure payment processing
Companies that use Sphere Payments
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
Sphere Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
Feature5 records
Sphere Payments partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- RevSpringcoreTrustCommerce has been acquired by RevSpring, combining Best in KLAS patient financial experience solutions with enterprise-grade gateway capabilities. This acquisition expands integrated payments and accelerates innovation in financial engagement.
- EpiccoreCertified Epic integration allowing TrustCommerce payment processing to be embedded within Epic EHR workflows for seamless patient payment collection at point-of-care.
- athenahealthcoreCertified athenahealth integration enabling payment processing within the athenahealth EHR platform for healthcare provider customers.
- VeradigmcoreVeradigm EHR integration providing embedded payment capabilities for healthcare organizations using the Veradigm platform.
- R1 RCMcoreIntegration with R1 RCM (Revenue Cycle Management) platform for healthcare payment processing and revenue cycle optimization.
- Merrick BankcoreSphereCommerce, LLC is a registered Independent Sales Organization/Merchant Services Provider of Merrick Bank, South Jordan, UT, enabling payment processing services.
- Wells Fargo Bank, N.A.coreSphereCommerce, LLC is a registered Independent Sales Organization of Wells Fargo Bank, N.A., Concord, CA, enabling payment processing services.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Sphere Payments competitors and assessment
Company assessmentDirect peers
- Phreesia: Phreesia is a patient intake and engagement platform that processes patient payments pre- and post-visit through deep EHR integrations, directly overlapping Sphere's healthcare payment and patient engagement workflows.
- Rectangle Health: Rectangle Health provides payment processing and patient engagement solutions purpose-built for healthcare practices, competing head-to-head with Sphere's medical practice and ambulatory customer base.
- Waystar: Waystar is a healthcare revenue cycle management platform that includes patient payments, processing patient financial responsibility alongside claims management; comparable to Sphere's RCM-adjacent payments offering.
Emerging players
- Cedar: Cedar is a patient financial experience platform that competes in the same Best in KLAS-adjacent space, modernizing patient billing and payment journeys for large health systems that Sphere also targets.
- Flywire: Flywire is a vertical payments company with a healthcare arm that processes patient billing and international payer payments, overlapping Sphere's healthcare payment processing focus with a more modern, global technology stack.
Broad incumbents
- Heartland Payment Systems: Heartland (a Global Payments business) is a broad payment processor with a dedicated healthcare vertical offering integrated patient payments and practice management solutions, comparable to Sphere's enterprise healthcare practice.
- Elavon: Elavon is a large-scale merchant acquirer that processes healthcare payments for hospitals and clinics, offering competing integrated payment solutions with banking-grade compliance similar to Sphere's positioning.
- Stripe: Stripe is a broad internet payment platform increasingly expanding into healthcare and vertical SaaS payment integrations; some EHR and ecommerce partners of Sphere compete indirectly with Stripe's payment APIs.
- Block (Square): Block/Square provides omnichannel payment processing used by healthcare practices and ecommerce merchants of all sizes, competing with Sphere's omnichannel stack including Apple Pay/Google Pay and parking kiosk use cases.
Others
- RevSpring: RevSpring is now Sphere's parent company, having acquired TrustCommerce in 2024 to combine patient engagement and patient financial experience with enterprise payment processing; relevant as the strategic acquirer shaping Sphere's go-forward footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Sphere Payments social profiles
Digital presenceSphere Payments compliance and trust
Trust signalCompliance4 records
Sphere Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sphere Payments leadership team
Management profileNumber of profiles
Profiles4 records
Sphere Payments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sphere Payments M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sphere Payments
What does Sphere Payments do?
Sphere Payments operates the TrustCommerce secure payment processing platform, providing integrated payment acceptance and processing services primarily for healthcare providers, with additional support for ecommerce and parking and transportation verticals. The platform embeds payment processing directly into EHR workflows through certified integrations with Epic, Veradigm, athenahealth, and R1 RCM, supporting omnichannel patient payments pre-visit, at point-of-care, and post-visit via digital wallets (Apple Pay, Google Pay) and traditional card methods.
Is Sphere Payments a public or private company?
Sphere Payments is a private company. It is classified as corporate owned and is currently acquired.
When was Sphere Payments founded?
Sphere Payments was founded in 1998. It employs 101 to 250 people.
Where is Sphere Payments based?
Sphere Payments is headquartered in Nashville, United States, in the North America region.
How does Sphere Payments make money?
Three revenue lines are on record. Payment Processing Services are the primary driver. The others are platform/SaaS Fees and compliance & Security Services.
Who are Sphere Payments's main competitors?
Direct peers on record are Phreesia, Rectangle Health and Waystar. Emerging players are Cedar and Flywire. Broad incumbents are Heartland Payment Systems, Elavon, Stripe and Block (Square). RevSpring is listed as an others.
Does Sphere Payments have an API?
No public API is recorded for Sphere Payments.
What industry is Sphere Payments in?
Sphere Payments's product category is Healthcare Payment Processing. Its primary akta.pro industry code is FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets), with a secondary code of BPAMAFAF, Bill Pay, Invoicing & Payables Platforms. Its NAICS code is 522320 and its SIC code is 6199.