PayBright

What PayBright does

PayBright is a privately held merchant services provider and Independent Sales Organization (ISO) registered with Citizens Bank, N.A., headquartered in Raleigh, North Carolina. Founded by CEO Dustin Magaziner in 2012 and scaled to 251-500 employees, the company delivers payment processing, point-of-sale (POS) solutions, and value-added services (ACH, gift/loyalty cards, merchant cash advances, surcharging and cash discounting, invoicing, PCI compliance) to more than 15,000 small and medium-sized businesses across the United States, spanning restaurants, retail, B2B/home services, medical, CBD/high-risk, and micro-merchants.

The core technology platform is the PayBright POS Desk, which packages over 25 POS configurations including proprietary equity stakes in Figure POS (cloud iPad system with KDS, Kiosk, Manage, and Mobile modules for restaurants) and Material Retail POS (boutique/independent retail), integrated with third-party stacks from Clover/Fiserv, SwipeSimple, Dejavoo, PAX, and Ingenico terminals, plus gateways from Authorize.Net, NMI, Fluidpay, and processors including TSYS and WEX. The architecture is a hybrid: PayBright owns the merchant agreement and residual economics while leveraging partner technology, supplemented by proprietary software investments in Figure and Material for vertical depth.

PayBright operates a dual go-to-market: a channel-led motion through 1,000+ independent sales agents and ISOs supported by a POS Desk, lifetime residuals with no clawbacks, free Clover equipment placements, and the PayBright Elite President's Club; and direct SMB acquisition through the website, demos, and marketing. Revenue is generated almost entirely through transaction-based pricing (interchange-plus markup, surcharging/cash-discounting program spreads, and residuals), with secondary revenue from MCA interest income and equipment leasing economics — an asset-light, ISO-margin business model. The company is bootstrapped with no outside investors and has been recognized on the Inc. 5000 for three consecutive years and the Triangle Business Journal Fast 50 (#12 in 2025).

Name

PayBright

Legal name

PayBright

Website

https://gopaybright.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

PayBright is a privately held ISO merchant services provider serving 15,000+ U.S. SMBs across restaurants, retail, B2B, and high-risk verticals with payment processing, a 25+ option POS Desk, and proprietary Figure and Material POS platforms, distributed through 1,000+ independent sales agents.

Ownership category

akta.pro rank

Product category

Merchant Payment Processing

NAICS

Credit Card Issuing (522210), Sales Financing (52222)

SIC

Miscellaneous Business Credit Institution (6159), Finance Services (6199)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

Merchant Acquiring Banks & ISO/MSP Acquirers (FSAMABAB), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), POS-to-Online Unified Payments (Omnichannel Payments) (CRAFALAL), POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Merchant payment processing
• Point of sale solutions
• Credit card processing
• ISO agent program
• Mobile payment acceptance

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payment Processing Services: PayBright generates revenue primarily through transaction fees charged to merchants for processing credit and debit card payments. As an ISO (Independent Sales Organization), the company earns a percentage of each transaction processed through its merchant accounts. Agents earn residuals based on transaction volume.
2. POS Solutions: PayBright provides point-of-sale hardware and software solutions as part of its merchant services package. Revenue is generated through associated processing fees tied to POS deployments, with free equipment programs designed to lower barrier to entry and increase merchant adoption.
3. Value-Added Services: PayBright offers ACH payments, gift cards, loyalty programs, invoicing, PCI compliance support, business loans, and merchant cash advances as additional revenue streams that complement core payment processing.
4. Cash Discounting and Surcharging Programs: PayBright enables cash discounting and surcharging programs that allow merchants to offset or recover card processing costs. The company reports significantly higher residuals for agents selling these programs compared to traditional interchange-plus pricing.
5. Interest Income / Financial Services: PayBright provides business loans and Merchant Cash Advances (MCAs) to qualifying merchants, generating interest and fee income from these financial products.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

PayBright is a merchant services provider and registered Independent Sales Organization (ISO) of Citizens Bank, N.A. that delivers credit and debit card payment processing, point-of-sale (POS) hardware and software solutions, and value-added services such as ACH, gift/loyalty cards, business loans, merchant cash advances (MCAs), surcharging, cash discounting, invoicing, and PCI compliance to small and medium-sized merchants across the United States. The company distributes its offerings through a network of 1,000+ independent sales agents and ISOs, supported by a dedicated POS Desk that provides consultative sales, equipment, and onboarding assistance.

Product overview

PayBright is a merchant services provider offering a comprehensive platform of payment solutions through its POS Desk, which provides access to over 25 tailored POS options. The core product portfolio includes proprietary solutions like Figure POS (cloud-based iPad system for restaurants with KDS, Kiosk, Manage, and Mobile components) and Material Retail POS (for independent retailers), alongside integrated third-party platforms including Clover POS. Additional offerings encompass mobile payments via SwipeSimple, Dejavoo, and Clover Go; online ordering through Make It Butter; gift and loyalty cards; payment gateway services; ACH and B2B payments; surcharging and cash discounting solutions; business loans and MCA; and PCI compliance tools. The company operates on a month-to-month, no-contract model with transparent pricing and no rate increases.

Differentiator

Problem solved

Functional benefit

Brands

• Figure POS: Cloud-based point-of-sale system for restaurants and retail, including Figure POS, Figure KDS (Kitchen Display System), Figure Manage, and Figure Mobile applications.
• Material POS
• Make It Butter

Products and services

• Merchant Payment Processing Credit and debit card payment processing for merchants with transparent pricing, no rate increases, month-to-month agreements, and no early termination fees.
• Figure POS Cloud-based iPad point-of-sale system designed for restaurants and retail, offering order management, kitchen display, self-serve kiosk, mobile management app, employee management, and reporting/analytics.
• Material Retail POS POS solution powered by PayBright processing for independent retailers including boutiques, gift shops, sports apparel, and pet stores, with customer engagement tools, inventory management, and e-commerce integrations.
• Clover POS

Quantifiable outcome

• Merchants can reduce payment processing costs by up to 30%
• +3 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration26 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• MaterialcoreStrategic or Co-development Partner · 10 March 2026PayBright made a strategic investment in Material, making Material PayBright's preferred POS solution for retail. Material's CEO joins PayBright's board of directors. Material provides independent retailers with an integrated platform combining hardware, software, and payment capabilities. The partnership expands PayBright's retail POS ecosystem and was informed by strong beta test feedback from PayBright clients.
• Figure, Inc.coreStrategic or Co-development Partner · 11 March 2025PayBright made a strategic investment in Figure, Inc., becoming Figure's largest investor and exclusive payment processing partner. Figure provides cloud-based POS ordering systems, kitchen display systems, self-serve kiosks, and mobile management apps for restaurants and retail businesses.
• Clover/FiservcoreTechnology or IntegrationPayBright integrates with Clover POS, a Fiserv product, offering Clover hardware (Duo, Solo, Flex, Mini, Go, Kiosk, KDS) to merchants. PayBright runs a free Clover equipment program for qualifying merchants and provides dedicated setup support.
• Citizens Bank, N.A.coreOthersPayBright is a registered ISO (Independent Sales Organization) of Citizens Bank, N.A., Providence, RI. Citizens Bank serves as the acquiring bank that sponsors PayBright's merchant accounts.
• Sonesta Resort (San Juan, Puerto Rico)minorOthersSonesta Resort in San Juan, Puerto Rico hosted PayBright's President's Club (Elite) 2026 event. Event sponsors include Dejavoo, Factor4, Octopos, DCC Supply, and USAePay.

Scale indicators9 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Stax (formerly Fattmerchant): Stax is a subscription-based payment processor targeting SMBs with transparent, interchange-plus pricing and no long-term contracts. It shares PayBright's positioning around transparent pricing, no hidden fees, and SMB-focused merchant services, competing for the same agent and direct merchant relationships.
• Helcim: Helcim is a payment processor offering transparent interchange-plus pricing to SMBs with no long-term contracts and bundled POS solutions. Its emphasis on transparent pricing, SMB focus, and bundled POS/POS-as-a-service closely mirrors PayBright's no-contracts, free-equipment, transparent-fee positioning.
• Toast: Toast is a restaurant-focused POS platform with integrated payments, KDS, online ordering, and multi-location management. It directly competes with PayBright's Figure POS offering in the restaurant vertical, especially for full-service and multi-unit operators.
• Lightspeed Commerce: Lightspeed provides cloud-based POS and integrated payments for retail and restaurant SMBs, with a focus on independent and multi-location merchants. It competes directly with PayBright's Material Retail POS offering in the boutique and independent retail segment.
• Dharma Merchant Services: Dharma is an SMB-focused payment processor with transparent pricing, no long-term contracts, and a similar customer-service differentiation narrative. It targets a comparable merchant profile to PayBright and competes for agent-driven SMB merchant acquisition.
• Payment Depot: Payment Depot offers subscription-based interchange-plus pricing to SMB merchants, eliminating percentage-based markups. Its transparent pricing model and SMB focus closely parallel PayBright's value proposition for cost-sensitive merchants and agents.

Broad incumbents

• Square (Block): Square is one of the largest SMB payment and POS platforms in the US, offering integrated hardware, software, and processing for retail, restaurants, and service businesses. It competes broadly with PayBright across multiple verticals and has far greater scale and brand recognition in the SMB segment.
• Heartland Payment Systems (Global Payments): Heartland is a long-standing US ISO/processor serving SMB merchants through a direct and agent-distributed model with a broad POS portfolio. PayBright VP Starr Hodel previously held senior roles at Heartland; Heartland is a comparable ISO-style competitor at much larger scale.
• Clover (Fiserv): Clover is Fiserv's SMB POS and payments platform, distributed through partner ISOs including PayBright itself. As both a technology partner and a competitor (Fiserv also offers Clover direct and via other ISOs), it represents the largest incumbent POS distribution network in the US SMB market.
• Stripe: Stripe is a leading internet-first payments platform serving online and increasingly omnichannel businesses, including SMBs. While primarily online, Stripe's Terminal product and expanding omnichannel/in-person offerings make it an indirect competitor to PayBright's e-commerce and mobile payment integrations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/paybright

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about PayBright