Show Me the Money from Canada: Not Just Another Loonie API

Based in Vancouver, BC, Payfirma has created an XML-based API that promises custom forms and full shopping carts to keep you in control of developing the flow of your credit card processing. The idea is to make business's lives simpler by reducing development costs with the Payfirma API that accepts Visa, Mastercard, Discover, and American Express among others.

Payfirma states the API also is pre-integrated with third party shopping carts, and has a payments profiles API to keep customers on the retailer's site while preventing the storing of card data on the retailer's server. This eliminates online credit card risks and is supported by Visa and Mastercard Secure Code.

The Payfirma flow chart

It's easy to see how Payforma developed in Canada. As Rolando Fuentes reports in, Canada leads the U.S. in what Mastercard dubs the "Mobile Payment Readiness Index," measuring a series of factors from mobile payments to consumer readiness and regulation. (Thailand was number 1.)

If the satisfaction of one customer is any indication, Payfirma could be on to something big. Foodster delivers takeout in Vancouver from any restaurant for flat fee of $10. Customers order online with Payforma managing the transactions. According to Tom Hoang, the Foodsters' Business Development Manager, "Payfirma gives us a secure, and robust way to handle credit card transactions, even American Express. This was something we didn't have before when we used PayPal...we're paying fees that are fair, and we have the support we need."

Payforma is headed by Michael Gotkurk, who previously founded Versapay. As CEO, Gotkurk led Versapay to become Canada's fastest growth company in 2009. Following up with a successful IPO in 2010, he then moved on to found Payfirma.

Payfirma's client list includes Greyhound, The UPS Store, and BMW. Last December we dove into a new class of payment APIs, including the Dwolla API.

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