Founded in 2011, Zipmark is a fintech startup focused on simplifying business payments. We originally focused on a branded, mobile business-to-business ("b2b") payment application, but subsequently pivoted to a white-label SaaS application called Zipmark Deposit.
Today, we have a portfolio of a dozen or so customers that using Deposit in order to move money through the banking system. As an example, an online lending company might use Deposit to send out their weekly loan issuances directly to their customers' bank accounts. Our software handles the complexities, intricacies, and general headaches associated with ACH transfers. We also provide end-to-end support to our business customers ("merchants") in the event that an issue arises downstream with one of their customers ("sub-merchants" or just "customers").
While we found some success with Zipmark Deposit, over time we realized that 'ACH as a service' had become commoditized and that there would be persistent downwards pressure on our margins as a business.
That said, after 5 years of being a reliable payments service provider for dozens of customers, we identified the 'pain points' in merchant payments.
Now, we're building a platform called OpenTransact to address that specific and actionable list of pain points. Our target customers will be merchant acquiring banks and more generally payment facilitators all over the world - everywhere major credit cards, debit cards, PayPal, and even Bitcoin are accepted as a means of payment.