Card Payment Solutions, Llc

What Card Payment Solutions, Llc does

Card Payment Solutions LLC (CPS) is a privately held Independent Sales Organization (ISO/MSP) founded in 2002 and headquartered in Florence, South Carolina. The company provides merchant processing, POS systems, mobile payments, e-commerce, ATM placement, check authorization, and adjacent financial services to thousands of small and mid-sized businesses across the United States, serving at least 14 industry verticals including retail, restaurant, lodging, grocery, petroleum, pharmacy, medical, municipalities, nonprofit, parking, home services, dry cleaning, automotive, and web developers. CPS operates as a registered ISO of KeyBank, N.A. and Citizens Bank, N.A., underwriting merchant accounts through these banking partners while distributing through a combination of 12 U.S. offices, a network of independent sales agents, phone sales, and online lead capture.

The company's core product is merchant processing anchored by its proprietary "Zero Fee Program" — a cash-discount model that passes credit card processing fees to consumers — and a "Cash Discount Program" for large-ticket merchants. Around this core, CPS bundles hardware (PCI-certified countertop, mobile, and Android terminals from PAX, Clover, and ChargeAnywhere), software (Complete POS with inventory/payroll/time-clock, virtual terminal, virtual shopping carts, billing solutions, online ordering integrations with Uber Eats/DoorDash/Grubhub, and customer engagement/loyalty), and financial services (ATM placement, cash advances via Capital Solutions, and TeleCheck check authorization). The platform is built on third-party infrastructure (First Data gateway/developer tools, Clover/ChargeAnywhere for mobile EMV) rather than proprietary processing technology, meaning CPS's differentiation sits in pricing structure, service, and channel rather than core technology.

The company generates revenue primarily through residual transaction fees on payment processing volume (CPS states it securely processes over $1 billion annually), supplemented by hardware margins, ATM surcharge share, cash advance origination, and software/service subscriptions. GTM is sales-led and relationship-driven, combining experienced direct sales representatives with a recruited agent channel supported by an agent portal. Pricing is quote-based and not publicly disclosed; the Zero Fee Program operates on a pay-as-you-go model where merchants avoid per-transaction and PCI fees. Leadership is founder-led: Dan Christopher (President/CEO since 2002) and Jaye Watson (VP/COO), supported by a ~15-person internal team. No external funding, M&A, or institutional ownership is disclosed.

Name

Card Payment Solutions, Llc

Legal name

Card Payment Solutions LLC

Website

https://cardpaymentsolutions.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Card Payment Solutions LLC is a privately held U.S. payment processor and ISO of KeyBank and Citizens Bank that provides merchant processing, POS systems, mobile and e-commerce payments, and the proprietary Zero Fee Program to thousands of SMBs across 14+ verticals nationwide.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Merchant Acquiring Banks & ISO/MSP Acquirers (FSAMABAB)

Keywords

• Payment processing services
• Merchant account services
• Point of sale systems
• Mobile payment solutions
• E-commerce payment gateway

Headquarters

HQ city

Florence

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payment Processing Fees: Traditional transaction fees charged to merchants for processing credit and debit card payments. The Zero Fee Program provides an alternative revenue model where fees are passed to customers rather than merchants.
2. Cash Advances: Provides cash advances to businesses based on their credit card sales volume. Repayment is made through a small percentage of daily credit card sales, providing flexible financing without fixed monthly payments.
3. ATM Services: Earns revenue through ATM placement at merchant locations, collecting a percentage of fees when customers use the ATM for balance inquiries and cash withdrawals.
4. POS Systems and Equipment: Sales and leasing of point-of-sale hardware including countertop terminals, mobile terminals, and Android-powered terminals with EMV, magstripe, contactless, and NFC capabilities.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Card Payment Solutions LLC is a registered Independent Sales Office (ISO/MSP) of KeyBank and Citizens Bank that provides credit and debit card merchant processing and merchant account services to U.S. businesses. Its core offering centers on card-present and card-not-present payment acceptance, including the proprietary Zero Fee Program that passes processing costs to cardholders, supported by POS hardware/software, mobile payment devices, e-commerce gateways, check authorization, ATM placement, and cash advances against credit card volume.

Product overview

Card Payment Solutions LLC offers a comprehensive payment processing ecosystem with its core merchant processing and Zero Fee Program as the primary revenue-generating products. The company provides an integrated suite of hardware terminals (Countertop, Mobile, Android-based) and software solutions including Complete POS Systems, E-Commerce Solutions with Virtual Terminal and Shopping Carts, Billing Solutions, Online Ordering, Mobile Payments (CloverGo, ChargeAnywhere), Check Services (via TeleCheck), ATM Services, Customer Engagement tools, and Capital Solutions. The product architecture is modular, allowing businesses to select individual solutions or bundle multiple services. Developer tools through First Data API enable web developer integration, while the Zero Fee Program (cash discount model) serves as the flagship cost-saving offering. The company operates as an ISO/MSP registered with KeyBank and Citizens Bank, serving merchants across retail, restaurant, lodging, petroleum, pharmacy, medical, grocery, nonprofit, municipal, and service industries.

Differentiator

Problem solved

Functional benefit

Products and services

• Merchant Processing / Merchant Accounts Core credit card and debit card processing and merchant account services enabling U.S. businesses to accept card payments in-store and online.
• Zero Fee Program

Quantifiable outcome

• Merchants can save $1,200-$2,400 annually by eliminating credit card fees with Zero Fee Program
• +2 more outcomes

Named customers7 records

Segments13 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• TeleCheckcoreTechnology or IntegrationTeleCheck provides check authorization services enabling merchants to safely accept checks again. The partnership helps identify and refuse potentially risky checks while accepting authorized checks from genuine customers, reducing fraud losses.
• First DatacoreTechnology or IntegrationFirst Data provides developer tools including sandbox, API, and device certification for e-commerce integration. CPS leverages First Data's payment gateway infrastructure for secure XML-based transaction processing on merchant websites.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Stax by Fattmerchant: Subscription-based payment processing platform serving SMBs across multiple verticals. Comparable business model and target customer base, though more software/tech-led than CPS.
• Payment Depot: Subscription-based merchant services provider serving SMBs with interchange-plus pricing. Highly comparable to CPS as a US-focused ISO-style processor targeting similar small business segments.
• Dharma Merchant Services: US merchant services provider with an agent/ISO partner program. Directly comparable go-to-market motion and SMB merchant focus to CPS.
• Helcim: SMB payment processor offering transparent interchange-plus pricing with integrated POS and online tools. Comparable target market and merchant services focus, with a stronger proprietary tech stack.
• National Processing: US merchant account and payment processing provider with direct sales and agent channels. Comparable to CPS in target market (SMBs), business model (ISO with banking partnerships), and product breadth.
• PayJunction: US-based payment processor offering merchant accounts, virtual terminals, and POS solutions to SMBs. Comparable customer segment, product mix, and direct-sales distribution model.

Broad incumbents

• Clover (Fiserv): Fiserv's SMB POS and payment platform that CPS itself resells. Overlaps directly in target vertical and product offering but operates as a platform/incumbent that ISOs like CPS depend on.
• PayPal: Global digital payments platform with SMB merchant services, POS (Zettle), and online checkout. Comparable in serving SMB merchants across online and in-person channels but at vastly greater scale.
• Block (Square): Public fintech offering Square payment processing, POS hardware, and software to SMBs. Significant overlap in target customer and product suite but operates at much larger scale with proprietary technology.
• Stripe: Global payments infrastructure company with growing SMB and POS offerings. Overlaps in e-commerce and online payment processing services that CPS provides through First Data.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Card-Payment-Solutions-119376941411023

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Card Payment Solutions, Llc