Douglas Wicks Acquires Equity Stake in

Aug 6, 2013 12:30 PM PST

MORGANVILLE, N.J. — Douglas Wicks, former VP of sales at CCBill, has acquired an equity stake in payment solutions company

Wicks will join the Payze Board and immediately assume the role of CEO.

Payze was founded by industry veterans that have been working with established payment systems since the late 1990s. In 2009, Joel Paulin, former CFO and COO of CCBill, LLC, and Hank Freeman, CEO and founder of SexKey, joined forces to help colleagues and friends take control of their credit-card processing and merchant accounts. Shortly thereafter, they launched the Payze suite of software to a handful of private clients as they continued to expand the offering, solutions and alliances.

“When I saw the opportunity to create a modern processing venture and work with Joel again, I jumped on it," said Dr. Wicks. "With Hank’s experience, reputation and client perspective as well, I couldn’t be more excited to represent the entire Payze team. We’re building a better solution to help our clients reach their greatest potential…this will truly be a one-stop shop.”

Based in Morganville, N.J., the company said it has unique partnerships and relationships in the banking, software, and high-risk industry that have been merged to create "seamless, flexible, and custom processing solutions."

Payze currently offers individual direct merchant accounts and recommends that clients combine their merchant accounts with the Payze suite of software solutions, which gives them the ability to maximize their throughput, control their branding, manage their support and expand their business.

Each Payze team member has more than 13 years of experience in online and ecommerce processing.

“When I left CCBill over two years ago, I was not sure I would return to high-risk processing, but after seeing the solutions, team and vision for Payze, I was excited to bring my experience to the company,” Wicks said.

Wicks holds a Ph. D. in psychology from the University of Kansas and has been working in the mainstream online arena for the past two years. With his extensive processing background and industry knowledge, he said that investing in the next great solution was the logical step to take.

He can be contacted at

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