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首席执行官丹尼尔·麦古金 is moving apace to expand Nashville-based CoreCommerce's role in the e-commerce ecosystem from successful shopping-cart and software provider to a robust fintech platform with a strategic role in payments.

McGugin told Venture Nashville he acquired controlling interest in CoreCommerce in January.

The firm continually runs at financial breakeven or better, said the CEO. It earns revenues from subscriptions and-or transaction fees. It continues to grow its team -- now 12 FTE in the U.S., India and the UK -- with its software as a service (SaaS) technology now in use by subscribers in 48 of the Fifty States and in 14 nations.

McGugin, 42, acknowledged that the horrendous COVID-19 pandemic has triggered exponential compounding of e-commerce volume, without which few businesses large or small can operate. The vital role of ecommerce is reflected in share prices of such firms as Amazon and Shopify, 他补充说.

他强调，“虽然我们是 总部设在纳什维尔的软件公司, just like any software business, we can serve clients across the globe."

因此，他说，虽然今天他没有活跃的M&一个程序, he "absolutely" aims to forge partnerships of various kinds for any market that makes sense in the context of advancing CoreCommerce's technology and business goals.

他指出，金融科技M&市场是“充满活力的”," and he gets calls daily from executives asking whether he wants to buy or sell, or looking to advise the company on strategy and related matters.

Value-added will always be key in alliances, 也。 as in considering outside investors.

虽然他现在不需要外部资本, he "most certainly" will consider such a transaction in future. Any such deal would surely involve a partner or sponsor with substantial payments-fintech presence and market influence, 他补充说.

概述CoreCommerce的各个方面, McGugin began by saying CoreCommerce's original shopping-cart business remains core, 不断创新特色和功能.

Beyond that, hosted payment pages are the company's second anchoring ingredient. 主持的页面, 每个都有自己的竖井代码, reside behind the partition of CoreCommerce's payment card industry, 或pci兼容的数据和安全标准. The company already supports via automation more than 14,000个这样基于模板的页面, 并可提供定制服务, 也。, 说McGugin.

托管页面支持任何商家, 商人, venue ticket seller or others who want to minimize dealing with payments infrastructure to complete card or card-not-present transactions via a CoreCommerce hosted page, 通过他们自己的网站或手机, 桌面或其他设备.

The company has also introduced a private-labeled dashboard for payments and related data reporting. It is being marketed primarily to value-added resellers (VARs) and independent sales organizations (ISOs). The offering is capable of full reporting of transactions, 佣金, residuals and any other data that touches e-commerce payments.

McGugin further emphasized that the company offers an API that is certified such major credit card processors as TSYS, Elavon, 第一个数据, 举几个例子. CoreCommerce's API and developer guide enable integrated software vendors (ISVs) can easily be connected directly to credit card processors.

The CEO said his interest in Core Commerce was piqued about a year ago, and he'd naturally been thinking of the cornerstone role that e-commerce plays since he entered the payments sector in 2014.

被问及CoreCommerce的竞争对手, McGugin指出，其中包括Magento, 吸引商务, 分条和授权.net (a Visa solution), 举几个例子 across various segments of the business.

Terms of McGugin's acquisition have not been disclosed, but the CEO confirmed that prior investors who retain minority stakes in the company include Peter Marcum and Robert Echols Jr., who are otherwise most widely known as founders or co-founders of DevDigital and BargainHunt, 在其他兴趣中.

The CEO, Marcum and Echols are the company's board, chairman by McGugin. A traditional advisory board is also to be formed.

The company traces its roots back to about 2001. Marcum and Echols had acquired it from local entrepreneurs and investors Matt DeLong and Michael Thompson, who operated the business as Sum Effect Software.

CoreCommerce's outside advisors include attorneys Michael Holly of Bass Berry Sims and Howard Herndon of Frost Brown Todd.

它的会计是由大卫·奥斯本负责的 & Associates and the company banks with Pinnacle Bank's John Markham.

Its website was recently refreshed by New Wave Creative, 艾伦·威利斯领导, 谁最近创办了自己的公司.

McGugin is also sole owner and CEO of Iroquois Merchant 服务 LLC, which focuses on credit card-based payment processing solutions. Corrected: He has named Alastair Miller the president of IMS.

He holds a bachelor's from Vanderbilt University and a master's in education, 主修体育行政管理. 他的LinkedIn在这里.

The CEO and his wife -- Vanderbilt University Medical Center divisional counsel Jennifer McGugin JD -- have three sons. 这家人住在戴维森县. 这里有相关报道. VNC

原始资料来源: http://www.venturenashville.com/fintech-entrepreneur-mcgugin-expands-corecommerce-role-in-payments-cms-2002