EXCLUSIVE – Cloud-based payment processing platform, Dream Payments is marshaling forces for a major U.S. launch next month.
The payments platform, which has been live in Canada since 2016, will go live with one of its payment solution products in mid-December, CEO Brent Ho-Young told Bank Innovation.
The solution is Dream Payments’ point of sale product, which was created in partnership with global payment technology provider First Data’s Clover division (Clover focuses on next-gen, Square-like solutions). The product was first unveiled back in October at the Money 20/20 conference in Las Vegas.
Dream Payments POS is a smart payment terminal that lets merchants sell from anywhere in the U.S. and accept all common forms of payments. The solution will be available on Clover’s next-generation payment terminals, namely Clover Flex and Clover Mini.
Additionally for this product, Dream and Clover have partnered with Intuit’s SME accounting software QuickBooks, allowing Dream’s SME users to automatically populate their transaction information into their QuickBooks accounts.
“It’s exciting for us to be able to give merchants a smart point of sale that works seamlessly with Clover smart payment terminals in USA,” Young told Bank Innovation.
As for expanding in the U.S., Dream Payments’ aspirations do not stop at its Clover partnership. In fact, according to Young, the company is currently on the hunt for partnerships that will help expand its business in the U.S. market.
Among those partnerships are ones with financial institutions.
“We want to partner with financial institutions, not to disrupt them, but to enable them with our solutions,” he said.
As for markets within the U.S., first up, according to Young, is the Northeast region. With an office in Connecticut, Dream Payments is hoping to be sufficiently scalable in the Northeast by the first quarter of next year, and slowly make its way to the rest of the country over the next few quarters.
Based in Toronto, Dream Payments was founded in 2014. Its banking partner in Canada is TD Bank.