Fortis Accelerates Momentum Behind Embedded Payments with Massive Growth, Enhanced Services and New Leadership

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Oct 13, 2022, 09:02 ET

NOVI, Mich., Oct. 13, 2022 /PRNewswire/ -- Fortis, a payment and commerce technology leader for software providers, marketplaces and scaling businesses, surpassed $20 billion in commerce transaction volume, an 80% increase over the previous year, as they continue to scale as a market leader in embedded payments. In addition to this milestone, the company is expanding its fully integrated service offerings and enhancing the leadership team.

Looking forward, continued growth of the platform will be driven by Fortis' new service offerings – an embedded omni-channel set of APIs for existing and new software partners, as well as the delivery of Fortis Capital for merchants – accompanied by a road map of new geographies and the addition of Mark Bishopp, former Amarylis CEO and an early pioneer in PayFac delivery, to spearhead all embedded payments initiatives.

While legacy providers and channels struggle with a challenging economic environment, Fortis' focus on servicing software, ERP and platform providers has shown no signs of slowing down. Fortis' enterprising growth plans include a newly available API stack with features and capabilities to simplify and streamline integrations, as well as the expansion of its embedded commerce suite with new service offerings such as Fortis Capital, quick invoicing and enhanced B2B functionalities. The API-first platform is more comprehensive with end-to-end onboarding from e-sign to auto configuration, enhanced transaction capabilities and profound reporting features, helping ERP, ISV, HMS and other software partners create better experiences for their customers. Further, Fortis Capital enables financing for small businesses and merchants, short-term loans for working capital for bills, payroll, purchase inventory and more, all with the ability to apply and receive funding in the same day across North America.

"The entire team has worked relentlessly to make our platform and business stronger, making the momentum and wins even more satisfying to see," said Greg Cohen, CEO at Fortis. "The big winners, however, are our partners and customers as we enhance the platform and bring new embedded solutions to market. As we enter the next chapter, I couldn't be more excited to welcome Mark Bishopp to the team to lead our efforts in this area and help continue our pace of growth. Having a veteran like Mark on the team speaks to not only who we are, but also where we're going in helping software providers leverage commerce as a competitive advantage."

Bishopp will be leading Fortis' progress in embedded payments as SVP of Embedded Commerce and Partnerships. As a former Bank of America executive and Amarylis CEO with 25 years of experience, Bishopp is well positioned to take the Fortis platform and embedded payments business to the next level. Bishopp is an industry renowned PayFac veteran with a history of leading high-performing teams and creating amazing solutions. Bishopp's role will entail strategy, business development, market consultation and education efforts surrounding embedded payments.

"Fortis has created the platform today's market has been asking for and it shows up in the growth numbers," said Mark Bishopp, SVP Embedded Commerce and Partnerships. "I couldn't be more excited to join this team of seasoned payments professionals and drive the capabilities software and ERP providers need for greater options and functionality. The guided solutions created by Fortis today and the road map for tomorrow makes this a very exciting time to be a trusted advisor in the industry."

Momentum will continue into 2023 as the company focuses on building out new technology to support partners and merchants. To learn more about Fortis' growth and offerings, visit fortispay.com.

About Fortis

Fortis delivers comprehensive payment solutions and commerce enablement to software partners and developers, processing billions of dollars annually. The company's mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

CONTACT: [email protected]

SOURCE Fortis