First Data Integrates With Ellie Mae’s Consumer Lending Platform

In a press release, First Data said that together, the two companies will integrate secure payments technology to process mortgage and appraisal fees, allowing Ellie Mae customers to accept payment for all costs related to the lending process, including loan origination, processing, underwriting and credit reports.

“First Data is thrilled to deliver our fast, simple and secure payment technology to the banks, credit unions and mortgage lending companies Ellie Mae serves,” said Jeff Shanahan, executive vice president and head of CardConnect at First Data. “Our relationship will enable Ellie Mae to deliver a simple and secure solution for its clients and further enhanced consumer engagement for lenders.”

According to the companies, via the partnership Ellie Mae will leverage the BluePay payments gateway, which is now part of the CardConnect ISV platform. First Data’s CardConnect and BluePay, which have recently consolidated into a single integrated payments platform under the CardConnect brand, allows software companies to more easily add secure payment processing within SaaS, mobile and point-of-sale applications, First Data said in the press release.

For its most recent quarter, the payments processor reported results in late July that topped expectations, buoyed by continued traction in its Global Business Services (GBS) segment, and with continued double-digit growth for Clover, its point-of-sale (POS) business. The general numbers that beat the Street: Adjusted earnings per share came in at $0.39, two pennies better than expected, while revenues were $2.5 billion, as compared to the consensus of $2.4 billion.

Additional financial data that accompanied the general earnings release showed that the company’s segment revenues were up 6 percent overall, as defined on an organic constant currency basis, to $2.2 billion. Breaking that down a bit, GBS was up 8 percent on the same organic basis, with that segment as the largest contributor to the top line, at $1.4 billion. Growth in other segments stood in the low single digits, with Global Financial Services (GFS) up 4 percent to $414 million, and Network and Security Solutions showing 3 percent growth to $371 million.