Four Startups Changing The Face of the Payments Industry

We recently sat down with payments industry veteran Doug Wilber to talk about the changes we’re seeing. Doug is the founder of financial technology consultancy Sailplane Ventures and the CEO of Gremlin Social, which is a marketing platform created just for FinTech businesses.

This is a post by SwipeSum CEO Michael Seaman. Special thanks are owed to Doug Wilber who contributed considerably to the creation of this article.At SwipeSum, we’re proud of what we do. Merchants who have struggled to navigate the convoluted payments industry for years can now find a new payment processor and get the best rate in just an hour or two. But we also know we’re not the only ones helping to make the payments industry better. There are hundreds of companies out there who are working to simplify this complex industry for individuals and businesses everywhere. We recently sat down with payments industry veteran Doug Wilber to talk about the changes we’re seeing. Doug is the founder of financial technology consultancy Sailplane Ventures and the CEO of Gremlin Social, which is a marketing platform created just for FinTech businesses. When we asked about his viewpoint on the changes in payments, Doug commented:

“What's most exciting is the sheer pace of innovation taking place across the entire payments value chain. Ultimately the efforts of innovators will lead to the disintermediation of many incumbent players while, concurrently, making the facilitation of transactions between consumers and merchants seamless and invisible."

At SwipeSum, we’re trying to eliminate the bureaucracy and pain that comes in choosing (and maintaining a positive relationship with) a payment processor for your business. Here are a few other firms that are doing their part to eliminate unnecessary complications in merchant and financial services:

Velo Payments

Velo Payments was created to ease the pains that companies face in managing their corporate treasuries. Traditionally, corporate treasuries have been tied down to individual banks, making international transactions difficult for many corporations. This is a huge problem for companies with international suppliers or who are expanding their reach beyond their original geographic region.Velo has created a platform that automates the corporate treasury system and enables transactions with institutions worldwide. Rather than having to jump through hoops to complete B2B payments, Velo Payments offers a streamlined global solution that enables businesses to disburse funds quickly and efficiently.

Assembly Payments

Assembly Payments came into being along with the rise of the gig economy. After recognizing that traditional payments platforms were not keeping up with the rapid changes in the economy, Assembly Payments set out to create a payments solution that was flexible enough to be used anywhere with any business model.Assembly’s technology is built to be integrated into marketplaces, platforms, and apps, which the traditional payments industry has been slow to adapt to. They’ve been adopted by several large firms, including rental property management system Cubbi and job management software Fergus. Assembly prides itself on its increased flexibility without sacrificing any of the security measures that are so vital to today’s businesses.


You’ve no doubt heard of ApplePay, Venmo, and CashApp. These apps have made it easy for individuals to exchange money, but PayKey is doing something a little different. PayKey promotes “social banking” by enabling payments through any app on your phone that uses keyboard functions. If you’re messaging a friend on WhatsApp and need to send them money, there’s no need to open another app to complete the transaction. With PayKey, you can make the payment right in your chat without missing a beat.Since being founded in 2014, PayKey has partnered with several large financial institutions including Mastercard, ING, and BBVA to provide these social banking services hundreds of thousands of individuals.


While many FinTech companies are trying to find ways to eliminate the need for banks and traditional payment processors, ClickSwitch is working to improve them instead. ClickSwitch’s technology enables a quick and easy way to move recurring deposits and payments between accounts, even across multiple financial institutions. The service simplifies the process that comes with setting up a new bank account, providing a simpler switch for customers while streamlining the onboarding process for banks.ClickSwitch effectively removes any hassle that comes with switching financial institutions. Customers don’t need to update their banking information with each service they use. In just ten minutes, customers can open a new bank account and transfer all recurring payments including housing, utilities, car payments, donations, and even Netflix from an existing bank account to the new one. ClickSwitch can even help close the account that’s no longer in use.Each of these businesses has a unique approach to changing the payments industry, but each is making it easier for people and businesses to complete transactions. We’re proud to tackle this industry with so many smart people and are grateful that we get to help make it better.

Michael Seaman

Michael Seaman

Michael is the co-founder and CEO of Swipesum. A veteran of the payments industry, Michael and his brother Stephen have led Swipesum since its inception in 2016. In his free time, Michael enjoyes time with his three children.

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