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FreedomPay
Company type
Private
Industry
Payments platform as a service
Genre
Payments Gateway
Founded
Philadelphia, 2000
Founder
Tom Durovsik, CEO
Headquarters
Philadelphia, Pennsylvania,
USA
Key people
Tom Durovsik, CEO; Christopher Kronenthal, President & CTO
Products
FreedomPay Commerce Platform
Owner
Tom Durovsik
Website
www.freedompay.com
FreedomPay is a company that provides payment platform as a service. It was founded in 2000 and is currently located in Philadelphia, Pennsylvania. In early 2000, FreedomPay launched mobile payment "proof of concepts" with enterprises such as McDonald's, [1] Bank of America[2] and Visa. Later in 2004, FreedomPay delivered a closed loop payment system for stored value and voucher systems to the food service industry. [3]
In 2007, FreedomPay developed a gateway for credit card processing (FreeWay) that captures detailed transaction data. That data can be mined for real time intelligence from disparate systems, giving merchants insight into their sales. Using that data, FreedomPay launched a cloud-based platform as a service (PaaS) and a first generation incentive platform.
With the launch of the FreedomPay Commerce Platform in 2009, its customers could deliver those incentives in real time to consumers’ mobile phones and enable mobile payments. All of this technology is based on an open architecture and is protected by high-level security. [4]
In 2013, FreedomPay was selected by Microsoft as its commerce platform partner for the global banking and retail sectors.
In 2014, FreedomPay earned PCI validation for its point-to-point encryption solution (P2PE). FreedomPay was the first fully functional platform solution in North America to achieve PCI validation, including support for NFC and EMV payments. [5]
^"McDonald's Tests Cashless Fast Food". ABC News.
^"FreedomPay makes waves in contactless payment".
^"Transaction Trends November 2012". Issuu.
^"Microsoft, FreedomPay Collaborate on Targeted Offers". November 2013.
^"FreedomPay Announces North America's First Fully-Functional, PCI-Certified P2PE Technology for Merchants". Corporate Compliance Insights. 2014-08-19. Retrieved 2021-03-16.
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