Chris Kronenthal, President & CTO
Advances in technology are now an unstoppable force in the world of commerce and have changed consumer spending behaviors, and the way businesses operate to meet customers' demands on a global scale. Currently, the industry is struggling to integrate legacy technologies with new emerging Fintech services outside mainstream commerce. Many organizations don’t want to re-engineer every process for integrations. Maximizing sales channels for a multi-tiered enterprise-to-consumer organization can be tricky, this is where FreedomPay steps in with its system integration abilities that can empower retailers. The company acts as a bridge that links the client’s entire existing infrastructure, enabling them to innovate and accelerate product adoption. FreedomPay’s platform acts on detailed data collected across all POS and ERP systems and uses one gateway to streamline every transaction. “Our distinct capability lies in delivering integration without requiring the merchant to disrupt their existing technological footprint,” says Chris Kronenthal, President and CTO of FreedomPay.
In the realm of payment technology integration, Kronenthal believes that it is vital that businesses understand why they are innovating and how to fully maximize these solutions. Far too many companies in this sector are focused on selling and not solving problems, and ultimately, it is the merchants who suffer from this approach. FreedomPay, on the other hand, can provide the required value to merchants, the right toolkit, the engagement methodology, and the delivery process to pull those issues together. “We have brought together innovation and education for our clients, partners, and merchants to demonstrate why they need to use a commerce platform that can really deliver. The proposition is simple: protect their brand, leverage data and provide an integrated payments solution that enables them to grow their business and increase revenue,” he says.
Our distinct capability lies in delivering integration without necessitating the merchant to disrupt their existing technological footprint
The company provides the tools necessary to not only compete but to thrive in an industry that is highly populated and competitive.
Unlike other payment solutions, FreedomPay does not follow a ‘one size fits’ all approach as each merchant has unique requirements. Based on each merchant’s requirements, the company provides tools and payment platform. At the same time, FreedomPay’s commerce platform is customer-centric with a mission to help merchants provide unique experiences for their customers that is centralized around the payment process. “Our platform allows merchants to easily understand the distinct pieces of the payments process; from back-end acquiring, rates used and which payments methods merchants accept,” adds Kronenthal. The company then integrates all of these aspects and provides an enablement hub that acts as the glue between the merchant and the bank, ensuring that a connected, fully integrated ecosystem is in place.
Owing to its stellar abilities, FreedomPay was selected to deploy its industry-leading commerce platform at most MGM Resorts International Properties. As a world leader in the hospitality sector, MGM's reputation depends on providing the best possible experience for its guests, across all aspects of its business, while ensuring that payment data remains completely secure. No other payment solution could provide an EMV commerce platform capable of securing payments throughout MGM Resorts' broad array of lodging-hospitality focused systems while maintaining PCI compliance scope. FreedomPay’s platform added a robust offline transaction, solved for EMV, NFC, and digital signature capture challenges, while seamlessly integrating with back-office ERP and accounting systems with real-time data feeds. By using FreedomPay’s scalable commerce platform, MGM Resorts was able to implement payment security throughout their restaurants, cabanas, retail shops, valet parking, and e-commerce sites. Looking at the future, FreedomPay will employ a continual reinvestment strategy in technology to enhanceits solutions and continue to make great strides in the U.S. market. With a recent expansion to the European market, the company is also penetrating into the Asian market.