Portland’s ZipLine has acquired SmartClixx

ZipLine, a Portland-based provider of private-label debit card and mobile payment technology, has acquired SmartClixx, a gift card payment platform based in Florida.

The deal, terms of which were not disclosed, marks ZipLine’s first foray into gift-card payments. SmartClixx’s platform is currently used by global brands such as Chico’s, Lord & Taylor, Saks Fifth Avenue, and Books-A-Million, and processes more than a billion dollars of stored value card transactions annually.

“We’re excited to continue our path of rapid growth and expansion into new markets; acquiring SmartClixx and its experienced team is another step in that direction,” Stephen Goodrich, ZipLine’s CEO, said in a statement. “For two decades SmartClixx has licensed and deployed its robust technology, processing billions of dollars in transactions on behalf of some of the world’s most recognizable brands. Together, we will combine our unique platforms on behalf of merchant partners, including in new verticals, to deliver secure, enhanced, alternative payment and rewards solutions for years to come.”

ZipLine works with clients to create custom mobile payment and reward programs, allowing clients such a Circle K, Speedway, Irving, Giant Eagle, and Big Y to increase customer loyalty and sales. This deal appears to bring ZipLine into competition with another Portland company, CashStar, which was a pioneer in the digital-gift-card space. CashStar was acquired by Blackhawk Network for $175 million in 2017.

ZipLine and Portland’s fintech cluster

ZipLine hasn’t always been based in Portland. It was founded in Florida in 2005. The fintech company’s Maine connection was made in 2012 when Goodrich became its new CEO.

Goodrich has been a long-time member of Portland’s fintech cluster, having worked at First Merchants Bancard Services, one of the early Portland companies credited along with WEX and a few others with developing the cluster. An out-of-state company acquired First Merchants in 2002 and closed the Portland office, leading former employees like Goodrich to create new companies. Goodrich founded PowerPay, while two other companies (Vision Payments Solutions and Nationwide Payment Solutions) also were created in the wake of First Merchants departure from Portland (all three of those companies have since been acquired by EVO Payments).

After selling PowerPay to EVO Payments, Goodrich in 2012 became ZipLine’s new CEO and eventually moved the company’s HQ to Portland, adding it to the city’s existing fintech cluster, which also includes WEX, BlueTarp, CashStar, Municipay, Guideline (has a dev office here), and DAVO Technologies.