CardConnect Corp.

CardConnect operates as a merchant acquirer and payment gateway, processing credit and debit card transactions for small and mid-sized US businesses. The firm provides integrated point-of-sale technology and transaction routing, earning revenue through a percentage of the payment volume it processes. Its technology stack connects merchants directly to the Visa, Mastercard, American Express, and Discover networks.

CardConnect generates revenue through transaction-based spreads and gateway fees rather than asset management or advisory fees. The firm captures a portion of the merchant discount rate on each card transaction it processes, alongside per-transaction gateway charges. This model makes its economics directly tied to the payment volume flowing through its platform.

CardConnect was acquired by First Data Corporation in 2017 for approximately $750 million. Following the acquisition and Fiserv's later purchase of First Data in 2019, detailed public reporting on CardConnect's standalone operations, team size, and technology roadmap became sparse. Current organizational structure within the combined entity is not publicly detailed in readily available records.