Park Place Payments Names New Chief Product Officer To Support Next Phase Of Growth And Innovation
Park Place Payments, a female-founded fintech poised to capitalize on the surge in freelance workers, announced today that veteran payments executive Jeffrey Punzel has joined the company as Chief Product Officer. Punzel comes to Park Place Payments from Fiserv, one of the largest fintech companies in the world.
Park Place offers payment processing solutions to the 80 percent of the SMB market that doesn’t want self-serve software features provided by Square, Stripe, Paypal and the ISVs. Known for its white-glove service and a sales force made up primarily of women, Park Place is shaking up a traditionally homogenous industry with a national network of freelancers who sell financial services to their local communities.
“Today’s appointment marks a critical growth milestone for Park Place Payments as we further develop our community-driven sales platform,” said Samantha Ettus, founder and CEO, Park Place Payments. “Jeffrey Punzel’s extensive payments experience and ingenuity is a huge boon to Park Place. Not only did Jeffrey play a key role in developing one of the earliest payment gateways in the industry, but he has touched virtually every area of payments.”
Punzel brings more than 25 years of payments experience to Park Place. Most recently, he directed a group dedicated to payment gateways and ACH services at Fiserv after it acquired BluePay, where he had been a senior product manager.
“Park Place Payments is at the forefront of a movement to address the payments needs of small and medium sized businesses and to provide freelancers across the U.S. with a recurring-revenue opportunity and a virtual worklplace and community,” said Punzel. “I’m thrilled to join the outstanding team at Park Place in this mission.”
Over the last year, Park Place Payments closed a $1.5 seed funding round and has seen a 135 percent growth in its sales force, which is expected to reach 2,500 by the end of 2022. The company has also experienced a 65 percent increase in merchant clients and a 99 percent increase in monthly processing volume.
Park Place Payments was founded in 2018 by Samantha Ettus, who observed a pervasive dissatisfaction among small business owners with their financial services partners. At the same time, she recognized an unmet need for recurring revenue opportunities for freelance workers seeking flexibility and freedom from traditional workplace constraints. By 2027, more than half of the U.S. will consider themselves freelancers, and Park Place is positioned to provide an unmatched pathway to financial independence.
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