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Knox Payments Leverages ACH to Deliver Cost-Effective, Speedy Online Transactions

Knox Payments Leverages ACH to Deliver Cost-Effective, Speedy Online Transactions
KnoxPaymentsLogo_FF2014

This post is part of our live coverage of FinovateFall 2014.

Knox Payments is our next presenting company. Knox leverages the ACH network to facilitate transactions online.

“Knox Payments facilitates payments for merchants online, allowing them to transact with their customers/users, who never have to create accounts or enter their bank routing and account numbers, let alone input their address and other information when transacting online. End users simply log in to their online banking to make a payment, and we instantly verify their account, all for just $0.18/transaction (paid by the merchant). Knox means less cart abandonment, more security, and increased conversion. all while saving on payment processing fees.”
Presenting: Thomas Nicholas, President & Co-Founder
KnoxPaymentsHomepage_LiveBlog
Product Launch: February 2014
Metrics: Raised $1,555,000 to date; 25 employees (13 in United States and 12 in India); 70 customers (and adding more each day)
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Richmond, VA
Founded: February 2014
Twitter: @KnoxPayments