Deluxe Expands Digital Wallet-as-a-Service Payment Options to Meet the Growing Needs of ISVs, ISOs, Merchants and Consumers

Rhea-AI Summary

First American by Deluxe has announced the expansion of its digital wallet-as-a-service offering, aimed at simplifying payment integrations for merchants and partners. This new service enhances support for leading digital wallets like Apple Pay and Google Pay, catering to ISOs, ISVs, and merchants. The demand for digital payment solutions has surged, and the upgraded platform enables quicker integration of new capabilities for merchants.

The rollout is set to begin with the non-profit sector, aiming for full commercialization by June 2023. Deluxe emphasizes a digital-first approach to empower customers and introduces innovative features like Apple’s BNPL offering and PayPal Version 2.

Deluxe serves nearly 155,000 merchants across the Americas and Europe, processing about $3 trillion in annual payment volume, positioning itself as a leader in integrated payment solutions.

Positive

• Expansion of digital wallet-as-a-service enhances payment integration for merchants.
• Supports major wallets like Apple Pay and Google Pay.
• Increased demand for digital payment solutions indicates market opportunity.
• Innovative features like Apple Pay Later and PayPal Version 2 enhance service offering.
• Rollout to the non-profit sector expected by June 2023, broadening market reach.

Negative

• None.

First American by Deluxe effortlessly connects in-store, on-the-go, digital wallet payments and more for merchants, integration partners and resellers

MINNEAPOLIS--(BUSINESS WIRE)-- First American by Deluxe (NYSE:DLX), a leading merchant acquirer and payment processing organization, is proud to announce the expansion of its digital wallet-as-a-service offering to support the rapid acceleration of new wallets and features merchants and partners want to provide their customers. This new offering is supported by integrations with leading payment wallets, such as Apple Pay and Google Pay, specially designed for ISOs, ISVs and merchants. This offering also supports recurring payments for online commerce.

While the company has been supporting wallets for a long time, there has been a surge in demand for digital payment solutions. Rather than merchants having to complete multiple integrations to keep up with this trend, the powerful First American by Deluxe processing platform enables merchants to add new capabilities quicker and easier than ever before.

"Our expanded digital wallet-as-a-service offering is a testament to the power of First American plus Deluxe,” said Neil Randel, CEO of First American and Managing Director of Merchant Services for Deluxe. “By taking a digital-first approach, we are empowering our customers to be at the forefront of the latest and most advanced payment solutions.”

The wallet-as-a-service offering is a crucial component of the Deluxe strategy to provide a comprehensive suite of payment options that cater to every business need. The solution offers consumers the convenience of using their preferred payment method and positions Deluxe to introduce new capabilities like Apple's BNPL offering, Apple Pay Later and PayPal Version 2. As digital payment solutions become increasingly popular, Deluxe continues to stay ahead of the curve by offering merchants a way to quickly choose which online wallets they want to accept and easily embed them into their websites and experiences.

In a phased approach, First American by Deluxe plans to roll out this expanded offering to the non-profit sector initially, with full commercialization rollout by June 2023.

“Our ability to introduce new payment form factors is further evidence of the power of owning our own platform,” said Michael Reed, President of Payments for Deluxe. “As we continue to innovate and enhance our digital solution set, it will enable us not only to drive more business but also provide many windows of opportunity to attract and retain more partners and customers.”

About First American Payment Systems by Deluxe

First American by Deluxe, headquartered in Fort Worth, Texas, is a global payment technology company providing leading integrated payment solutions to nearly 155,000 merchants throughout the Americas and Europe. First American provides partner and merchant payment solutions that include a robust set of in-store, online and mobile payment solutions paired with the latest in payment security, across a wide range of verticals. Backed by award-winning customer service, merchants and partners have access to our U.S. based Customer Call Center 24/7/365. For more information, visit http://www.first-american.net.

About Deluxe

Deluxe, a Trusted Payments and Data company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing approximately $3 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers’ most trusted business partner. To learn how we can help your business, visit us at www.deluxe.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005344/en/

Tom Morabito, VP, Investor Relations

470-607-5567

tom.morabito@deluxe.com

Keith Negrin, VP, Communications

612-669-1459

keith.negrin@deluxe.com

Source: Deluxe Corporation

FAQ

What is the latest offering from Deluxe regarding digital payments?

Deluxe has expanded its digital wallet-as-a-service offering to better support digital payment integrations for merchants.

When will the new digital wallet services be fully available to the market?

The full commercialization of the expanded services is expected by June 2023.

Which payment wallets are supported by Deluxe's new service?

The new service supports leading wallets such as Apple Pay and Google Pay.

How many merchants does Deluxe serve?

Deluxe serves nearly 155,000 merchants across the Americas and Europe.

What is the annual payment volume processed by Deluxe?

Deluxe processes approximately $3 trillion in annual payment volume.