From print to payments and data: A century of reinvention at Deluxe

In 1915, a man with a printing press and a $300 loan changed the way Americans moved money. W.R. Hotchkiss may not have known he was launching a financial services legacy, but when he founded Deluxe and introduced the checkbook, he unknowingly laid the groundwork for one of the most enduring business transformations in the payments industry.

More than a century later, Deluxe is far more than a check printer. The company has emerged as a trusted partner in payments, data-driven marketing, merchant services, and cloud-based platforms. But this evolution was not accidental; it was the result of continuous reinvention rooted in deep industry knowledge, strategic foresight and a commitment to customer success.

Reinvention in real time

Deluxe’s story is marked by timely transformation, fueled by an understanding of shifting customer needs and changing technologies. From the early 20th century through today, the company has reinvented itself time and again—often ahead of the curve.

A timeline of innovation

• 1922 | Introduction of the Little Handy and Long Handy pocket checks, revolutionizing consumer banking.
• 1925–1928 | A trio of patented inventions—the HIP (Hotchkiss Imprinting Press), Two-Way Perforator and the Hotchkiss Lithograph Press—dramatically increased print speed and security, positioning Deluxe as a technology leader.
• 1939–1959 | Deluxe pioneered personalized check programs and became an early leader in Magnetic Ink Character Recognition (MICR) technology.
• 1977–1982 | Deluxe entered the digital era with computerized error detection in check production and expanded its offerings to include pre-inked stamps and business forms.
• 2015 | Deluxe celebrated its centennial with Small Business Revolution, a documentary series spotlighting community revitalization through small business support.
• 2016–2021 | Strategic acquisitions of FMCG and First American Payment Systems expanded Deluxe’s capabilities into data intelligence and merchant services.
• 2024 | Launch of the Deluxe+ platform, integrating cloud-based technologies to deliver seamless, scalable solutions across all business lines.

Innovation has remained a constant—even in mature product categories—enabling Deluxe to maintain its leadership through multiple generations of technology and business evolution.

Building the modern Deluxe

“It's an incredible testament that any company can make it to 110 years,” CEO Barry C. McCarthy said in a recent interview, reflecting on the upcoming milestone. “Most companies don't even get to their fifth anniversary. It's really a testament to the fact that what we do really matters—we're at the very center of helping businesses pay, get paid and grow.”

This transformation wasn’t superficial, with Deluxe divesting in businesses, acquiring new ones and completely overhauling the entire operating infrastructure. Deluxe has moved to a new ERP, transitioned data and platforms to the cloud and introduced cutting-edge solutions across our businesses. From print-on-demand to payment processing and data-driven platforms, every investment has positioned the company to deliver greater value to its customers.

“In the decade before we started this transformation, the company had made over 50 different acquisitions,” shared McCarthy. “We pursued a ‘supermarket’ strategy—offering everything to everyone. We had a web hosting company in Australia, a payroll company in Canada, a luxury retail packaging business in the U.S. The idea was to serve banks and small businesses with a one-stop shop.”

But the digital age changed buyer behavior.

“We found out quickly that businesses don't buy from the supermarkets available on the internet,” McCarthy continued. “Buying it all from the same place doesn't necessarily work. So, over the last handful of years, we've focused on a few areas where the company has the ‘right’ to succeed.”

This shift turned the focus to the four areas where McCarthy knew the business could shine brightest.

“We started to focus on four things: First, our legacy print business, which is check and promotional products. Second, our merchant business, which helps small-to-midsized businesses accept payments. Third, our B2B payment vertical, helping mid-sized and large enterprise businesses accept and manage their cash flows. And fourth, our data business, which helps organizations find their next customer.”

Across these segments, Deluxe now processes nearly $2 trillion annually, solidifying its status as a major player in the financial technology space.

The Deluxe of today

It's through these four verticals—print, merchant services, B2B payments and data—that Deluxe has found its place as a ‘trusted payments and data company.’

“But what does it mean to be a trusted payments and data company?” McCarthy posed. “I want to start with the word ‘trust, which has been a hallmark of this company for 110 years. Thousands of financial institutions, millions SMBs and hundreds of today’s biggest brands trust us to move their one of their most precious assets: their money.”

“We’ve leveraged our legacy as a trusted provider of checks to become a trusted partner for moving money electronically or digitally,” McCarthy continued. That legacy now underpins Deluxe’s evolution into digital services.

“We’ve taken that same level of trust and applied it to electronic payments and data. At the core of all payments and data solutions is trust—the confidence that the provider is secure, responsible and dependable. That’s the brand Deluxe has built, and it’s the foundation of our future.”

Now, next, later: The future of payments

Looking ahead, McCarthy sees one word defining the future: embedded.

“Payments are going to work like the power company works, meaning that it's always available,” he explained. “You walk into a dark room and flip the light switch and the light comes on. You don't think about it – it just happens. I think payments are going to become similar to the degree to which businesses can integrate their offerings. It will be easy for a business to accept payments from any source, anytime, anywhere. Or reversely, a business can make payments anytime, anywhere, in a very integrated, streamlined way.”

More than a century of innovation—and counting

Today, Deluxe is a trusted leader in payments, data-driven marketing, merchant services and print solutions, building the connections and relationships that help businesses pay and get paid. By combining advanced business technologies, data-sourced strategies and the experience of over 100 years in finance, Deluxe has built a comprehensive suite of solutions to help businesses manage high-volume transactions, seamlessly integrate multiple payment sources or transition into the digital economy. By uniting legacy trust with modern technology, Deluxe empowers clients to meet the demands of today’s economy—and prepares them to lead in the economy of tomorrow.