Simplifya Announces the Appointment of Mercury Payment Systems Inc. and MassPay Incorporated Cofounder Jeffrey B. Katz to Its Board of Directors
- Investment , Payments
- 19.08.2021 01:25 pm
Katz Brings 20 Years of POS, Fintech, Technology, Investment and Leadership Expertise to the Regulatory and Operational Compliance Software Company as It Prepares to Launch the Cannabis Industry’s Most Compliant, Cyber-Secure B2B and Retail Consumer Payment Solution
Simplifya, the leading regulatory and operational compliance software platform serving the cannabis industry, announced the appointment of Jeffrey (“Jeff”) B. Katz to its Board of Directors, effective immediately. The two-decade point-of-sales (“POS”), fintech and technology pioneer is the Cofounder of Mercury Payment Systems Inc. (“MPS”), which was sold for $1.6 billion to Vantiv, Inc., and then, acquired by Worldpay Inc., a subsidiary of Fidelity National Information Services, and MassPay Incorporated, a fintech company that provides the largest number of payout options.
Katz, who is an investor in Simplifya, will advise the Company on the expansion of its operational footprint, as well as the launch of its newest product offering, TENDR™, a payment processing solution that utilizes the Automated Clearing House in collaboration with an Originating Depository Financial Institution (“ODFI”) in order to ensure a compliant, lasting, payment solution for participating cannabis-related businesses (“CRBs”).
“As a fintech industry pioneer, Katz fundamentally changed the way the POS sector generated revenue by aligning with POS developers and resellers to deliver payment processing to restaurateurs and retailers,” said Simplifya CEO and Co-Founder Marion Mariathasan. “As we expand into new cannabis markets and prepare to launch our latest product offering, TENDR™, Jeff’s decades of expertise in compliant cyber-safe POS and fintech will be an invaluable asset to our Company. We’re thrilled to welcome him to Simplifya’s Board of Directors, and look forward to working closely with him as we continue to deliver a comprehensive suite of regulatory and operational compliance solutions to cannabis businesses, regulatory bodies and the banking, financial and payment-related services sectors.”
“As an investor in Simplifya, I have seen the Company help countless cannabis and related businesses seamlessly remain compliant in this incredibly complex regulatory environment,” said Simplifya Board Member Jeff Katz. “Under Marion’s leadership, Simplifya continues to execute on its vision to bring cost-effective solutions to help financial institutions and CRBs build and maintain compliant, profitable cannabis banking programs. I believe TENDR™ is not only well positioned to be one of the industry’s most cyber-secure B2B and retail consumer payment solutions, but that it also has the potential to solve many of the burdensome challenges, which are currently facing cannabis’ payment services ecosystem. In my role as a Board Member, I look forward to bringing my decades of fintech, POS tech expertise to the Company, and working closely with Simplifya’s leadership team to make a powerful, game-changing impact on how business is done in the emerging cannabis sector.”
In 2001, Jeff Katz co-founded MPS and aligned with POS developers and resellers to deliver payment processing to restaurateurs and retailers. In doing so, he forever changed the way the POS industry generated revenue. Silver Lake Partners, the leading private investor in technology and technology-enabled industries, recognized the continued growth potential of these innovations and made a strategic investment, acquiring a 61% interest in 2010. In 2013, because of MPS’s impact on the POS industry, Jeff, along with his brother, Marc Katz, were inducted into the Hall of Fame of RSPA, North America's largest community of VARs, software developers, vendors and distributors in the retail, restaurant, grocery, and cannabis verticals.
Katz also serves as: the CEO of MassPay Incorporated; the chairman of REACH.ai and CardFree; and is a growth investor in companies including Simplifya, CODE Technology, Bluedot Innovation and CardFree.