LAS VEGAS– The Retail Solution Provider Association (RSPA) named Mercury Payment Systems founders Jeff and Mark Katz to the Retail Technology Industry Hall of Fame yesterday at the RetailNOW 2013 Convention and Expo in Las Vegas. In presenting the award, RSPA leaders cited the brother’s vision in 2001 to create an innovative business that focused on building reseller partnerships that enable recurring revenue stream payment programs.
“Jeff and Marc Katz founded Mercury Payment Systems and introduced a truly game-changing concept to the retail solution provider channel,” said Joseph Finizio, RSPA President. “Many traditional POS resellers may have been out of business or had significant business challenges today had the opportunity to participate in the recurring revenue associated with payment processing not been introduced by Mercury.”
Prior to Mercury, resellers did not have an opportunity to participate in any of the revenue generated by payment processing services. The Mercury Network today is the largest U.S. local merchant network for restaurant and specialty retail POS systems. Mercury’s role in this network is to enable the value-chain by being a consolidated point of innovation and support. This provides scale that dealers and developers cannot achieve on their own and services that merchants would otherwise be unable to afford.
“Mobile, new value-added services and new compliance standards like EMV are driving real change in the payments industry that makes the Mercury Network and Mercury’s business model increasingly important,” said Mercury CEO Matt Taylor. “Innovators are looking to Mercury to enable the network and merchants are looking to Mercury for value-added services that are proven and easy to support. Mercury’s growth today reflects the power of the Katz brothers’ vision and the strength of our partners.”
Jeff Katz founded Mercury in 2001 in his home town of Brewster, NY. In 2002, he partnered with his brother Marc and moved the company to Durango, Colo., where it is still headquartered today. By the end of the first year, the company had 699 processing merchants, 39 active resellers and 25 active developers.
Marc Katz served as Mercury’s second CEO from 2006-2009 before Taylor stepped in as CEO. Marc Katz is currently a member of Mercury’s board of directors. Today, Mercury enables payments for nearly 80,000 merchants and has a partner network of 2,500 POS resellers and more than 500 developers.
Initiated in 2008, the RSPA annually inducts at least one individual into the Retail Technology Industry Hall of Fame. Hall of Fame inductees are individuals who have made exemplary contributions to the Retail Technology Industry over the course of their entire career and demonstrated the highest levels of professionalism.
Mercury Payment Systems, LLC is a fast-growing, award-winning payment processing company committed to simplifying the payment chain in support of “main street” merchants. The Mercury Network™ is trusted by more than 500 point-of-sale (POS) Independent Software Vendors, and 2,500 POS Value Added Resellers. The MercuryPay™ processing platform is the only service that provides fast and secure payments with “fail-safe” high-availability transaction approvals if the credit card provider’s system is impaired. Unlike other processing providers that support their merchants remotely, the Mercury Network ensures that every merchant has a local dealer to help them install, connect, use, update, and expand their choice of POS system. For more information about Mercury, please visitwww.mercurypay.com or follow on Twitter @mercurypay.
SOURCE: Mercury Payment Systems, LLC