KeyBank and XUP Partner to Transform Merchant Services
Summary
CLEVELAND (May 11, 2021) — KeyBank (NYSE: KEY) today announced its strategic affiliation with an equity investment in XUP Payments (“XUP”), a leading payments innovator, to deliver a digital and physical merchant services experience that provides an end-to-end streamlined process for sales, onboarding, activation, and servicing. This collaboration, along with the launch of the Key Merchant Services (“KMS”) improved acquisition and servicing website marks the most recent in a series of partnerships with emerging fintech providers, affirming Key’s commitment to bringing innovative, digital first solutions to market. “Our new KMS digital platform provides businesses with a superior overall experience in conjunction with our (best-in-class or robust) merchant processing solution,” said Jon Briggs, Head of KeyBank Commercial Product & Innovation. “We could not be more excited about the insights and strategic guidance KeyBank will offer and we look forward to working with them as we continue to build XUP’s exciting future.” The latest collaboration and investment in XUP illustrate KeyBank’s model of partnering with fintechs to provide innovative solutions delivering ease and value to our clients by providing flexibility on how and where they do business with Key. Additionally, the CXMEngine adds digital servicing capabilities with chat functionality that improve conflict resolution time for small businesses.