Fidelity Payment Services and Cardknox Rebrand as Sola, Michael Reed Appointed as CEO

NEW YORK – October 23, 2024 – Fidelity Payment Services and its proprietary payment gateway, Cardknox, today announced a consolidated brand identity and company name – Sola. The rebrand reflects Sola’s capabilities as a unified payments platform, combining the strengths of a payments provider and gateway to deliver seamless, scalable solutions. Alongside the rebrand, Sola’s board has appointed Michael Reed as CEO as it looks to strengthen its payments industry leadership and deliver even more value to partners, clients and communities. Reed is a payments industry veteran with more than 20 years of experience leading customer-centric payments solutions, including previous leadership roles at Deluxe, Barclays and Bank of America Merchant Services. Former CEO David Ilowitz will remain on Sola’s board as Chairman.

“In an ever-evolving payments landscape, Sola stands out for our comprehensive, omni-channel solutions, including payfac capabilities, that allow businesses to accelerate their growth with minimal friction,” said Michael Reed, CEO of Sola. “This rebrand marks a pivotal moment for Sola, and I look forward to continuing the legacy of exceptional service and industry expertise exemplified by Fidelity Payment Services and Cardknox. We have always been one team and company, but by bringing together these two brands, we are positioning ourselves for continued long-term growth, innovation and customer focus.”

Founded in 1996, Fidelity Payment Services set out to offer merchants seamless, cost-effective payment processing solutions. In 2022, PSG acquired Fidelity Payment Services, bringing new opportunities for growth and expansion. Today, Sola serves tens of thousands of merchants across a variety of industries via a strong network of Independent Software Vendor (ISV) and agent partnerships.

“Our mission on day one still drives us to this day: to power prosperity through exceptional experiences for everyone,” said David Ilowitz, chairman of the board and former CEO of Fidelity Payment Services. “The rebrand to Sola, along with Michael’s appointment as CEO, mark an exciting new chapter for the company as both will allow us to build upon our history of success, expand our reach and enhance customer experiences.”

“It’s rare to find a company with a demonstrated track record of providing both great technology and great service, and that’s exactly what made us excited about Fidelity Payment Services,” said Marco Ferrari, managing director at PSG. “With the combination of Fidelity Payment Services and Cardknox, the
Sola brand is well positioned for continued success.”

“Fidelity Payment Services jumped out at us immediately because of its fantastic performance and proprietary technology stack,” said Chris Nesbitt, principal at PSG. “We look forward to seeing the company’s continued momentum under the unified Sola brand, which offers a truly comprehensive suite of payments solutions for seamless, end-to-end service.” To explore the new brand and learn more about Sola’s solutions, visit solapayments.com.

About Sola
Sola is a leading payments provider offering a full suite of merchant services, including payment processing, gateway solutions, and payfac capabilities. With strong partnerships across key verticals and a deep integration with ISV platforms, we deliver innovative and scalable solutions that help businesses of all sizes manage their payments efficiently. Headquartered in New York, our company is known for its customer-first approach, cutting-edge technology, and commitment to driving seamless transactions. Under the leadership of our new CEO, Michael Reed, we continue to build on our legacy of exceptional service and industry expertise.

Media Contact
Walker Sands on behalf of Sola
sola@walkersands.com