MagicCube Launches i-Accept Cloud, The First Open Cloud-Based Payment Acceptance Platform

MagicCube Launches i-Accept Cloud_ The First Open Cloud-Based Payment Acceptance Platform-01

MagicCube, the startup that created the Software Defined Trust (SDT) category, today unveiled i-Accept Cloud, the world’s first open, cloud-based softPOS acceptance platform that simplifies the creation of new merchant payment acceptance and digital commerce solutions. i-Accept Cloud connects the currently siloed parties in the payments’ acceptance chain—including acquiring banks, payments systems providers, and merchants—into a software-based, frictionless cloud model that is not tied to legacy hardware or bound by a specific device maker, its operational system, or payment card network. This allows different players to more easily create and manage their own payment acceptance networks.

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“Just as Visa and Mastercard brought order to the payments side of the business, MagicCube is bringing order to the merchant acceptance side by becoming the connective tissue that allows acquirers and other payment acceptance providers to more easily conduct their business,” said Sam Shawki, CEO of MagicCube. “In an industry plagued by lengthy, costly, and complex hardware-dependent integrations, having the building blocks for a cloud-based, hardware-agnostic, global merchant acceptance platform that makes it easy for all the players involved to participate in and create new payment acceptance and digital commerce solutions is a huge step toward increasing efficiency, reducing costs, and modernizing this segment.”

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