Smart Payment Solutions, a business unit of Solveras Payment Systems, Inc., was founded in Arlington, Virginia, in 2002 as a Third Party ACH Processing Company. In 2000, while setting up operations for start-up company iFinance, Matt Whitaker learned how challenging it was for small business to learn about and acquire certain payment solutions, specifically, ACH payments. Further, Matt realized that ACH payments offered an extremely cost effective solution that would help many categories of merchants, yet based on his experiences he saw that these markets were underserved.

In those early days, we fielded many calls from merchants who did not really know what they needed, so the company adapted its current consultative approach. We also began offering credit card merchant accounts through partner companies, always with an approach of offering clients good value and a clear understanding of what they were getting, both rare in the credit card industry. The company grew one client at a time, initially focusing on niche industries such as churches and dance studios and eventually serving larger and more diverse clients.

In January, 2005, the company acquired the assets of Automated Financials Group, based in Greenwood, Indiana. We maintained theGreenwood office and expert staff as our Operations Center. This acquisition expanded our client base and also brought us our Check Recovery business, an important service for any retailer taking checks over the counter.

In October, 2007, Smart Payment Solutions was acquired by Solveras Payment Systems, a like-minded company based in Franklin, TN, and focused on credit card sales and related products. Smart Payment Solutions continues to operate as an independent business unit while benefiting from the product knowledge, marketing expertise, technology, and client base of Solveras.

In spring of 2008, Smart Payment Solutions moved to a larger office in Arlington, VA, and added Remote Deposit Capture to its product line. Now with a full suite of payment products including ACH processing, Credit Card processing, Remote Deposit Capture, and Check Recovery, Smart Payment Solutions continues to expand by offering our consultative sales process to a variety of clients.