The Innovative Payments Association, which represents the electronic payments sector, announces the addition of its newest member, Kotapay of Fargo, North Dakota. Kotapay, the electronic payments division of First International Bank & Trust (FIBT), is a top-40 ACH originator forecasted to settle more than $100 billion of ACH payments through the ACH Network in 2023. Since 1993, they have provided fast, accurate electronic payments solutions to companies nationwide, and with the backing of FIBT, they bring an additional level of security and stability.
“The IPA is pleased to welcome Kotapay as our newest member,” said IPA President and CEO Brian Tate. “As an association, it’s critical that we represent all voices in payments – whether it’s on fraud prevention, artificial intelligence, or regulatory matters. Having Kotapay strengthens our bench of knowledge and reach. We look forward to working with them.”
Trent Sorbe, FIBT’s Chief Payments Officer and recipient of IPA’s Terry Maher Award in 2023, is looking forward to working with the IPA as well. “Membership in the IPA will serve us well as we embark on our BaaS 2.0 initiative. Kotapay is thrilled to work with Brian, Ben, and their team to bring banking and payment voices together to help unite the industry.”
Kotapay joins IPA’s proud tradition of creating positive change in the payments industry. For example, today, the IPA is leading the discussion on earned wage access to ensure regulators do not unintentionally harm the consumers they are trying to protect by creating rules that impede access to a critical liquidity tool.
Innovative Payments Association
The Innovative Payments Association (IPA) is the leading voice of the electronic payments sector, including prepaid products, mobile wallets, and person-to-person (P2P) technology for consumers, businesses, and governments at all levels. The IPA encourages the efficient use of electronic payments, cultivates financial inclusion through educating and empowering consumers, and represents the industry before legislative and regulatory bodies. To learn more about IPA, visit ipa.org or follow us on LinkedIn.
Kotapay is the electronic payments division of First International Bank & Trust. First International Bank & Trust is owned by Watford City Bancshares, Inc., which is owned by the Stenehjem family. First International Bank & Trust is a full service, independent community bank, a member of FDIC and an equal housing lender. First International Bank & Trust has been in business since 1910 and today operates branch locations in North Dakota, South Dakota, Minnesota, and Arizona. More information about the company can be found at FIBT.com.