Merrco Payments Furthers Fintech Legacy with Rebranding and Refocus

Merrco Payments is rebranding.

The Toronto-based fintech company, with offices in Vancouver and Calgary, announced leadership changes this week as part of a rebranding to KORT Payments.

MercoFounded in 2016, it is a global leader in compliant cannabis payments, boasting 50% national coverage in the Canadian market.

In 2018, the company merged with Canadian fintech Payfirma, founded in Vancouver in 2010 to innovate payments technology.

Now Joel Leonoff is preparing to usher in the next chapter of Merck’s legacy as KORT, a parent company that will “focus on exploring strategic M&A opportunities and accelerating growth across multiple verticals and new geographies.”

“Merrco has tremendous market potential,” said CEO Leonoff, “and we are excited to build on this strong foundation.”

With an enterprise-grade platform, KORT will aim to offer integrated omni-channel payment and e-commerce solutions, developing products and technologies targeted at the US and European markets to support “aggressive growth plans”.

According to Leonoff, the Merrco brand remains part of the KORT family and will continue to develop its “specialty product suite.”

Leading the charge at KORT is the same team that founded Optimal Payments, later rebranded as Paysafe and sold in 2017 for £2.96bn.

This “group of pioneers” is “eager to return to the payment processing industry,” according to a statement from KORT.

The team brings together 200 years of collective experience in global e-commerce and payment processing as it prepares to embark on a “transformation journey.”

Source