Dream Payments Integrates with QuickBooks and First Data’s Clover

Cloud-based payment platform Dream Payments has teamed up with Quickbooks, and First Data’s Clover to bring QuickBooks capabilities to U.S. merchants this week.

This comes three months after Dream Payments first initiated a partnership with First Data last year, launching the Dream Payments POS for merchants using First Data’s Clover. It also follows Dream Payments’ successful pilot of a QuickBooks integration in Canada.

The partnership will allow Dream Payments’ business clients using any POS device in Clover’s line to sync with QuickBooks. After a purchase, QuickBooks will automatically and in real time record the sale, update inventory, collect and close invoices, and import sales tax.

CEO of Dream Payments Brent Ho-Young said that the integration will help businesses succeed. He added that, by combining QuickBooks and Clover in the Dream Payments POS, “we’re unlocking the cloud and simplifying the most complex aspects of running a successful business — customer experience, payments and accounting. Now businesses of any size can access a powerful commerce platform that traditionally only the largest retailers could afford.”

Founded in 2014 and with operations in Stamford, Connecticut, Dream Payments helps small businesses accept all payments, including chip cards, contactless cards, and mobile wallets. In addition to ties with Quickbooks and First Data, the company also counts TD Merchant Solutions and Chase Paymentech in its partnership ecosystem.

At FinovateSpring 2015, Dream Payments debuted its mobile POS device. Last fall, the company partnered with IBM to leverage its cloud and security capabilities. Dream Payments has raised $14.9 million. Brent Ho-Young is CEO.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

IBM Partners with Dream Payments on mPOS, B2B Payments

IBM has teamed up with Toronto-based firm Dream Payments, bringing its cloud and security capabilities to help the firm offer mobile point of sale solutions and business-to-business (B2B) payments, reports Antony Peyton of Banking Technology (Finovate’s sister publication).

Chad Whittaker, CIO Dream Payments, said: “The combination of IBM’s banking and financial services expertise along with the IBM Cloud has allowed Dream Payments to build and scale its cloud infrastructure, right down to bare metal hardware access, maintain bank grade security, PCI compliance, and data sovereignty.”

Dream Payments will also be protected using IBM Managed Security Services, including IBM QRadar on Cloud, a network security intelligence and analytics offering, to detect and take action against cybersecurity attacks and network breaches.

According to IBM, the technology will establish cloud intelligence with Security Information and Event Management (SIEM) as a Service to defend the organization’s security infrastructure from threats.

Dream is headquartered in Toronto, Ontario, Canada, and has operations in Stamford, Connecticut. Founded in 2014, the company demonstrated its mPOS solution at FinovateSpring 2015. Dream Payments has raised $15 million in funding – including a $10 million Series A this spring – and counts Fair Ventures, Connecticut Innovations, and Real Ventures among its investors. Learn more about Dream Payments in our Finovate Debut profile.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Dream Payments Closes $10 Million Series A

DreamPayments_homepage_March2017

Canadian payments innovator Dream Payments raised $10 million in new funding this week. The Series A round was led by the investing division of Fairfax Financial Holdings, FairVentures, and takes the company’s total capital to more than $17 million. In addition to FairVentures, Connecticut Innovations, Real Ventures, and angel investors also participated.

Citing the timing of the investment, Dream Payments CEO Brent Ho-Young said the funding “propels Dream into the American market at a perfect time to serve the critical needs of businesses that are struggling to support emerging payment technologies like mobile wallets.” The company plans to use the new capital to fuel expansion in the U.S., increase its presence in its native Canada, and drive development of its third party app ecosystem. Connecticut Innovations CEO Matt McCooe praised its “unique go-to-market strategy and product offering” while Janet Bannister, General Partner of Real Ventures, spoke from the position as an “early investor,” saying “(Dream Payments is) experiencing exceptional growth as the only payments cloud powering mobile commerce for the leading North American financial institutions.”

DreamPayments_stage_FS2015

Pictured: Chief Marketing Officer Christian Ali demonstrating the Dream Mobile Point of Sale solution.

Dream Payments Cloud enables businesses across Canada to accept mobile payments by accessing a cloud-based, mobile point of sale (mPOS) solution. The company partners with financial institutions, who can then offer the PaaS solution to their business customers. In this way, Dream Payments helps consumers and businesses take advantage of both the latest and their preferred payment methods anytime, wherever they are.

Founded in 2014 and headquartered in Toronto, Ontario, Canada, Dream Payments demonstrated its mPOS solution at FinovateSpring 2015. Last month the company announced a partnership with Intuit QuickBooks to enables small business owners and entrepreneurs to accept a wider variety of payments including chip and PIN, cash, and mobile wallet. And, last fall, the company won the Global Fintech Challenge, taking home a $1.5 million investment award. In addition to Intuit QuickBooks, Dream Payments includes TD Merchant Solutions and TruShield Insurance among its partners and, later this month, expects to announce a new partnership with JP Morgan Chase.

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On FinDEVr.com

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers

DreamPayments_homepage_Feb2016

The mobile merchant services platform from Toronto-based fintech startup Dream Payments is now available to banks and merchant acquirers. The platform gives Dream Payments the ability to provide businesses with a host of services that range from mPoS apps and merchant onboarding to payment processing and business analytics.

“With Dream, banks and acquirers can finally attract and provide mobile payment services to businesses through a cloud-based, cost-effective, and flexible platform,” Dream Payments CEO Brent Ho-Young said.

DreamPayments_stage_FS2015b

Pictured (left to right): VP for Business Development Christian Ali and COO Anant Tailor demonstrated their Dream Mobile Point of Sale (mPOS) solution at FinovateSpring 2015.

Dream Payments launched its mPoS service for merchants last year. With this move, the company shows its cloud-based platform as an option for banks and acquirers to help their customers transition from legacy systems to EMV and mPoS technology.

The company this week presented its technology at the Mobile World Congress Conference in Barcelona, Spain. The platform includes:

  • white-label, pre-built, iOS and Android apps for payments, receipts, product catalogs, and real-time analytics
  • support for EMV contact and contactless mobile payment terminals
  • retail distribution and remote activation capability
  • third party SDK

Founded in 2014 in Toronto, Ontario, Canada, Dream Payments demonstrated its mPOS solution at FinovateSpring 2015. The company, which raised $6 million in funding last springlaunched Canada’s first retail EMV mPOS terminal that accepts Interac debit card payments in October. Read our summer 2015 profile of Dream Payments.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Dream Payments Launches EMV MPOS System in Canada

DreamPayments_homepage_Nov2015

Are you a small business dreaming about an off-the-shelf EMV mobile point-of-sale solution that accepts everything from Interac debit to chip-and-PIN cards to contactless payments?

Well, if you are a Canadian small business, you’re in luck: Dream Payments has teamed up with TELUS to bring EMV-ready mPOS technology to retail merchants in Canada.

Dream Payments CEO Brent Ho-Young noted both cost and quality in talking about his company’s technology compared to the status quo. “For far too long, small businesses in Canada have been forced to choose between insecure magstripe card readers or purchase expensive EMV payment terminals with monthly fees,” Ho-Young said. “That stops today.”

DreamPayments_stage_FS2015

From left: Dream Payments Chief Operating Officer Anant Tailor and VP of Business Development Christian Ali demonstrated Dream mPOS at FinovateSpring 2015 in San Jose, California.

The solution, Dream Mobile Point of Sale (mPOS), consists of an mPOS app for Android and iOS devices, along with a Bluetooth-enabled EMV credit and debit reader powered by the Dream Payments Cloud. The solution allows merchants to accept payments and issue receipts, as well as manage product catalogues and monitor sales in real time. Dream mPOS also comes with an online dashboard where business owners can create reports, study analytics, and more, right from their smartphones.

The card reader is available through TELUS for $100. Interac debit-card transactions have a processing fee of $0.25; Visa and MasterCard credit transactions have a fee of 2.75%.

Founded in June 2014 and headquartered in Toronto, Ontario, Canada, Dream Payments previewed its Dream Mobile Point of Sale (mPOS) solution at its Finovate debut at FinovateSpring 2015. The company has total capital of $6 million courtesy of a fundraising in March.