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Carta Worldwide

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Payments & Money Transfer | Oakville, ON | Founded: 2008 | Employees: 101-250 |


Last updated November 15, 2018 | To download a PDF version, click here


Company Overview

Carta Worldwide is a digital transaction processing software company that specializes in mobile and prepaid processing and payment technology based out of Oakville, Ontario. Carta Worldwide is the only platform in the world that offers end to end issuance, processing and enablement for digital accounts as platform-as-a-service delivery model.[1] Carta Worldwide solutions for banks, merchants, mobile network operators and original equipment manufacturers in order for them to be able to offer innovative digital financial products.[2]


Senior Management

Paul Hill:  CEO, Carta Worldwide (2018-Present); Chairman of PathFactory (2015-Present). Previously: Chairman of Verafin (2010-2017); General Manager, Disclosure Management, Certent Inc. (2016-2017); CEO of Disclosure Net (2013-2016); Member, Board of Directors, Celtx (2013-2016); VP, Business Analytics, IBM (2011-2013); COO of Clarity Systems (2006-2011) Education: ICD Directors Education Program, University of Toronto (2012-2013); M&A – Executive Program, Wharton School of the University of Pennsylvania (1997); B.Sc. Computer Science, McGill University (1985-1988).

Peter Kaju: CFO, Carta Worldwide (2018-Present). Previously; CFO, DAC Group (2016-2018); CFO, Director & Co-Founder, Certent DisclosureNet (2009-2015); CFO, Embanet (2006-2009); CFO, C5 Group Inc. (2005-2006); CFO, Webcom Inc. (2002-2005), CFO and Director, Nucontex (2000-2002). Education: CPA, Chartered Professional Accountant; CGA, Certified General Accountant; CIA, Certified Internal Auditor; B.Com Accounting and Finance, University of Toronto (1975-1979).

Christopher Payne: Executive Chairman, Board of Directors, Carta Worldwide (2018-Present).


Carta Worldwide was originally founded in 2006 by Robert Elensky, Brian Semkiw and Rui Mendes in Oakville, Ontario.[3] In 2007 the company’s Head Quarters moved to Switzerland while the Oakville office remained the research center. Elensky served as the CEO until the current company in 2008. Carta Worldwide was created with the vision to enable clients to deliver winning products and services in a digital payments environment.[4] The founders saw a disconnect between disruptive payment innovation and the traditional legacy systems the market offered and decided to bridge this gap by providing traditional business’ and institutions with the latest digital payment solutions.



Carta Worldwide has currently raised $51 million through 5 rounds of private equity funding with the firm Difference Capital. Their first round of funding was in 2008 and their most recent round on September 15, 2014 for $7 million.

Key Corporate Developments

July 2018: Announcement of Senior Management Changes
February 2018: Debit capabilities announced for Transferwise borderless account
October 2017: Carta Worldwide presents at Money 20/20 Las Vegas
February 2016: Partner with PayPal and Vodafone


Business Highlights


Carta Worldwide offers their products as a Platform-as-a-Service model to their clients with the value proposition of payment solutions and services that are the fastest time to market and lowest total cost of ownership. They develop new custom payment solutions using the latest technological innovation to clients with out of date payment systems which allows them to augment their businesses efficiency as well as their end customers experience.


Carta Worldwide offers custom solutions in two main segments:

  1. Transaction Processing
  • Issuer Processing: Carta Worldwide offers comprehensive issuance and card management systems that provides technology services to enable management, authorization, clearing and settlement, customer services, reporting and risk management.
  • Prepaid: Certified as a Mastercard and Visa 3rd party processor, Carta supports open and closed loop solutions that are PCI-DSS Level 1 compliant.
  • Industry Solutions: An open platform that provides unlimited configurability and brand ability to provide advanced transaction technology to future-proof transaction processing and meet customer demand.
  1. Technology
  • Platform: Offers businesses a modern technology stack for digital commerce. This product provides mobile enablement solutions through cloud based payments, tokenization services, wearables payment application and mobile money and customs application. Through their platform their clients also gain intelligent transaction control which includes transaction routing, authorization controls, processing functions and multi-currency, loyalty and VAS transaction functions.
  • Token Processing Applications: Develop solutions that protect sensitive payment data by replacing it with an algorithmic generated number called a token. This solution can be used to prevent fraud when using wireless networks to process payments.


Carta Worldwide creates software solutions using tokenization, cloud based technology and host card emulation technology they are able to provide custom payment platforms for their clients that can be fully integrated into their legacy systems.


Carta Worldwide delivers their software products and solutions by directly working with and delivering to their clients.


Carta Worldwide has developed an internationally recognized brand that companies seek out when looking for payment and processing software solutions. Through offering the fastest to market with the lowest cost, they have been able to acquire industry leaders as clients and retain them as their payment software needs evolve.  



Carta Worldwide does not have any major competition in Canada, however there are a few competitors in the US. All of their direct competitors’ focus is slightly different than theirs however their clients could find comparable solutions at any of these companies:

  1. Marqeta: Modern card issuing platform targeting developers who want a simple way to manage payment programs. Oakland, CA, USA.
  2. Boost Payment Solutions: B2B payments solutions focusing on moving their clients from paper-based payments to electronic alternatives. New York, NY, USA.
  3. QRails: Global issuer processing solutions focusing on processing, support, launch services and smart innovations for payments. Denver, CO, USA.


Corporate Profile Created By: Julia Frain, Ivey HBA Candidate 2019
Julia Frain

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