# Central Payment

> Central Payment (CPAY) was a San Rafael merchant-services company founded in 2005 by twin brothers Matt and Zach Hyman. It distributed card processing, payment terminals, POS systems, mobile and virtual payments, and loyalty tools through independent sales agents across the United States. TSYS bought the business in stages from 2012 to 2018, with the final transaction implying an $840 million valuation.

- **Founded:** 2005
- **Headquarters:** San Rafael, United States
- **Founders:** Matt Hyman (Co-founder and former Co-Managing Director), Zach Hyman (Co-founder and former Co-Managing Director)
- **Products:** Merchant acquiring and card processing, Payment terminals and POS systems, CPAY Mobile, Virtual terminals and e-commerce payments, SpotOn loyalty and marketing
- **Notable:** Grew from more than 40,000 merchants reported in 2012 to nearly 80,000 reported in April 2018., Historical transaction valuation rose from $110 million in 2012 to $840 million in 2018., Listed at No. 3,346 on the 2015 Inc. 5000.

## Products & services

- **Merchant acquiring and card processing** — Card acceptance and settlement services for US merchants, sold through independent agents; customer focus included restaurants, retail and personal services.
- **Payment terminals and POS systems** — Countertop, wireless and touchscreen systems; historical offers included EMV/NFC-capable terminals and bundled POS hardware and software.
- **CPAY Mobile** — Mobile card acceptance using a phone app and swiper; advertised in 2014 as included with merchant accounts without additional mobile-service charges.
- **Virtual terminals and e-commerce payments** — Browser-based and online payment acceptance, complementing in-person processing.
- **SpotOn loyalty and marketing** — Historical digital loyalty and marketing offering promoted to CPAY merchants; distinguish it from the founders’ subsequent separate SpotOn payments-and-software company.
- **Central Station** — Agent portal and back-office tools for managing merchant accounts and sales teams.
- **Merchant reporting and support** — Reporting, activation assistance and advertised 24/7 technical/customer service; historical marketing also promoted next-day funding subject to terms.

## Achievements

- Grew from more than 40,000 merchants reported in 2012 to nearly 80,000 reported in April 2018.
- Historical transaction valuation rose from $110 million in 2012 to $840 million in 2018.
- Listed at No. 3,346 on the 2015 Inc. 5000.

## Latest updates

- **2023-01** — Settlement administrator reported on January 25 that all payments had been issued to eligible class members in Custom Hair Designs by Sandy v. Central Payment.
- **2022-08** — Court approved the merchant-fee class-action settlement on August 11. The administrator reports CPAY paid $54,403,281.62 for the benefit of class customers. CPAY denied the allegations.
- **2019-09** — Global Payments announced completion of its merger with TSYS on September 18.
- **2018-04** — TSYS acquired the final 15% interest for $126 million, implying an $840 million whole-company valuation.

## Links

- Website: http://www.cpay.com
- LinkedIn: https://www.linkedin.com/company/central-payment-corp
- Twitter/X: https://twitter.com/cpaypartners
- Facebook: https://www.facebook.com/centralpayment

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Profile page: https://yespress.io/central-payment
Published by YesPress — https://yespress.io
Last updated: 2026-10-25