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Bluefin Payment Systems Raises $6 Million in Growth Equity Financing

BluefinPaymentSystems_homepage_Mar2016

In round led by Napier Park Global Capital and Camden Partners, Bluefin Payment Systems has raised $6 million in growth equity funding.

Calling Bluefin’s technology “the future of safeguarding cardholder data,” Manu S. Rana, Managing Director at Napier Park pointed to opportunities to deploy Bluefin’s solutions in a number of verticals. “Data breaches impacting payment transactions show no signs of slowing down,” Rana said. “Particularly among retail, healthcare, and education enterprises.”

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Pictured (left to right): Bluefin Chief of Product Innovation, Ruston Miles, and Chief of Technology, Tim Barnett demonstrating Bluefin’s point-to-point encryption technology at FinDEVr San Francisco 2014.

Bluefin Payment Systems is a specialist in point-to-point encryption (P2PE) for both integrated and stand-alone solutions. The company’s technology has been deployed in call center, kiosk, and mobile environments and has been applied to verticals in education, healthcare, and retail. The first  P2PE provider to become PCI-validated (March 2014), Bluefin encrypts cardholder data on PCI P2PE compliant devices, keeping it from being reachable in a system or network should there be a data breach.

Bluefin CEO John M. Perry credited his company’s investments in products and technology for the company’s growth. “We are providing PCI-validated P2PE to large companies and universities through our gateway while continuing to grow our list of compatible P2PE devices,” Perry said. “There is a tremendous market need for PCI-validated P2PE across every size of business and every vertical.”

In February, partner USAePay deployed Bluefin’s decryption-as-a-service solution, Decryptx to bring point-to-point encryption to merchants like 3DRetro. And in January, Bluefin announced a new partnership with CDE, an audited encryption service organization. This added CDE to Bluefin’s roster of P2PE Key Injection Facilities for PCI-validated P2PE devices, helping Bluefin’s customers and partners adopt the technology. Bluefin added former GlobalCollect CFO, Huib Dekker as its new Chief Financial Officer last December, a few months after Bluefin announced opening a new office in Ireland.

Founded in 2007 and headquartered in Atlanta, Georgia, Bluefin demonstrated its point-to-point encryption technology at FinDEVr San Francisco 2014.