KORE Payments, a versatile ‘no strings attached’ merchant services provider based in Sheboygan, WI is innovating amid the coronavirus pandemic by waiving all merchant fees and continuing to offer smart online, curbside, and remote checkout solutions for businesses. KORE Payments’ CEO Nick Korthals has over a decade of payments experience and launched KORE after successfully launching and running previous payment portfolios that processed over $1 billion in transaction volume and employed over 30 full-time W-2 employees as well as many more 1099 contractors. Nick says, “For the KORE team, COVID-19 is not an obstacle, but rather an opportunity to fine-tune and revise what was working and improve on all our current systems. At KORE, we have risen to answer the call and will continue to support our customers.” With the recent expansion to the Equitable building in downtown Chicago, IL on Michigan Avenue, KORE is continuing its early rapid growth since its inception just 2-years ago. “Our Downtown Chicago, IL office expansion is going to allow us to attract and recruit very talented individuals with a wide range of skill sets. It was necessary to continue to achieve our level of scale and growth,” says CEO Nick Korthals.Banking
KORE has seen steep growth in its first two years and is currently processing more than $7 million in transaction volume, with an average of over 90 thousand transactions per month. “We are processing over $75 million per year with a year-over-year growth rate of 200%. We have doubled the transaction volume across the merchant base,” says Nick Korthals. Since its inception in 2018, KORE has processed over $150 million in credit card volume representing over 2.1 million transactions. And within the last five-months, KORE has already surpassed its first year’s new account total acquisitions with a very high retention rate across all accounts. Nick says, “We maintain an extremely high customer satisfaction rating, and it’s something that we take very seriously.”
As KORE continues to surge despite the coronavirus shutdowns, they are looking forward to launching a new website development service called KORE Websites in early May. KORE Websites, which will include shopping carts and payment portals, are designed to take brick and mortar locations online quickly. The website solutions will allow small businesses and restaurants to cut out the commission payments to delivery services like Uber Eats and Grub Hub. This will enable merchants to take back their profit margins while maintaining their customer base during the pandemic. Nick says, “We are a very young-minded and flexible company that continues to improvise not only in times of crises but always. It is this creative mindset that allows us to take an idea from just a simple concept to large scale execution so quickly.”
