BitRail (PayGenius) and Payment Lock Partner to Market Branded Digital Payments and Loyalty Program to over 300k+ Merchants

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Feb 07, 2024, 15:23 ET

WILTON, Conn., Feb. 7, 2024 /PRNewswire/ -- BitRail, a fintech company whose "PayGenius" white label platform allows merchants to offer their own turn-key branded digital payments, wallets and loyalty, announced today a partnership with Payment Lock, a custom payment solutions provider with access to over 300K merchants.

PayGenius is independent of legacy, expensive credit card systems, so it often saves merchants up to 3% per transaction.

The PayGenius platform includes technology, licensing, security, compliance and loyalty to drive usage of the payments.

The merchant's branded payment lives next to more expensive, traditional options in a digital checkout. In addition to saving the merchant money, PayGenius branded digital payments improve branding and capture first party data for merchants.

These payments also provide seamless tie-ins to the PayGenius loyalty platform, or the merchant's existing loyalty programs. The PayGenius loyalty platform drives usage of branded payments by offering consumers over 1.3 million places to save, including hotels, rental cars, airlines, retailers, restaurants and cash back options.

PaymentLOCK currently offers payment solutions to over 300,000 merchants. The partnership with PaymentLOCK can accelerate the PayGenius growth beyond the 1.5 million existing users who are currently registered for the platform.

"Working with PaymentLOCK and their 300,000 merchants will help scale our PayGenius platform", said Jeff Siegel, President and CEO of BitRail. "We've proven the platform with 1.2m existing registered users, now it's time to accelerate our scale. Creating brand-owned digital payments is a challenge for merchants by themselves due to compliance, licenses, security and a host of other issues. PayGenius has done all the heavy lifting so that merchants can focus on their business."

"We are thrilled to take the PayGenius branded digital payment platform to our merchants," says Ryan Smith, Principal at PaymentLOCK. "PayGenius branded digital payments are in line with our solutions built around the customer experience with all the security, compliance and risk mitigation every business needs."

ABOUT BITRAIL:

BitRail is a fintech and service provider that helps partners create and manage their own regulated, digital payments. Our platform includes technology, licensing and compliance to help companies launch safe, branded, regulated, digital currencies and wallets.

ABOUT PaymentLOCK Inc:

PaymentLOCK is an Enterprise Security Software-as-a-Service Company. Engineering In-Store and On-Line secure payment solutions that help companies manage payments in real time while removing the risk associated to sensitive payment and customer information.

SOURCE BitRail