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Canadian mobile POS Payfirma hits $1M per day milestone

December 15, 2011

Payfirma, Canada's answer to mobile point-of-sale products like Square, announced it has hit a new milestone. The company said it processes more than $1 million per day for its thousands of merchant clients.

Launched in 2011, Payfirma was the first mobile POS company in Canada. According to Payfirma the company's product is being rapidly adopted by merchants that don't usually accept credit card payments.

"There is a massive greenfield market to help businesses accept credit cards," said Payfirma's CEO and Founder Mike Gokturk in the announcement. "Of the approximately 30 million businesses in North America, only 9 million currently accept credit cards." 

Gokturk said that even with a small cost to accept credit cards, Payfirma's merchants see increases in their sales by greater than 30 percent when they accept credit card payments.

Payfirma said it will be rolling out new products for 2012 including a tablet-based POS, NFC payments and business analytics.

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