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Dean M. Leavitt founded Boost Payment Solutions in 2009 to meet the nuanced and complex payment needs of large enterprises. Leavitt had spent 20 years in the payments industry and identified a clear gap in the ecosystem. The size of the global B2B market is estimated at $125 trillion, dwarfing the B2C market, but there was a complete vacuum of solutions specifically designed to address this opportunity. History was littered with failed attempts by incumbent players who tried unsuccessfully to adapt B2C solutions to solve B2B challenges. Leavitt set out to do something different— create B2B payment solutions that were purpose-built for the large enterprises.
Boost is now widely recognized as the global leader in enterprise-level B2B payments. The company’s patented technology solutions bridge the needs of buyers and suppliers around the world, eliminating friction and delivering process efficiency, payment security, data insights and revenue optimization. Boost currently has ~80 employees and operates in 45 countries and territories. Over half of the Fortune 100 companies make or receive payments via the Boost network and the top ten commercial card issuers in the U.S. utilize the company’s products and services. The company has been named to the Inc 5000 list of fastest growing privately-held companies in the U.S. four times, including 2022 and 2023.
In 2023 Boost received three utility patents for Boost Intercept® and Dynamic Boost®. Boost Intercept, patented in the U.S. and Canada, is the company’s flagship straight-through processing (STP) payment technology that eliminates the need for human intervention in payment and reconciliation. Dynamic Boost is the first payment platform to apply dynamic authorization and pricing to commercial card payments, offering buyers and suppliers flexibility based on business rules that fit their mutual needs. In October 2023 the company launched its newest solution, Boost 100®, a platform that enables buyers to use their commercial card to pay 100% of their suppliers, regardless of how their suppliers choose to be paid. Boost 100 is focused on the specific needs of buyers, providing more flexibility and control while optimizing their working capital.
The company realized an 84% YoY increase in volume processed in 2023, including having processed their single largest commercial card payment in 2023 in the amount of $50 million. As companies realize the true costs associated with the B2B transaction journey, Boost saw a significant YoY increase in customers, expanding their reach in key industries including healthcare, construction, and manufacturing. Boost’s solutions continue to evolve as the priorities of the corporate community change. Over the last two years, fraud prevention and environmental impact have become top priorities for CFOs. As bad actors target B2B payments, Boost has successfully processed tens of billions of dollars of transactions with no fraud losses.
At Boost Payment Solutions, Leavitt has built a community that understands the power of teamwork. He has deliberately surrounded himself with a diverse team of payment professionals. The leadership team is 43% female, significantly outpacing industry peers in gender diversity. Leavitt has invested in emerging leaders in the company by sponsoring nominations for industry programs including Electronic Transaction Association Young Payment Professionals, Money2020 Amplify and Women in Payments. The company opened new global headquarters in New York City in July 2023 with the goal of creating an engaging and supportive atmosphere for their growing employee base. Boost was certified as a Great Place To Work in 2022 and 2023.
Leavitt has a demonstrated career of challenging the status quo and driving the payments industry forward with technology and expertise. His entrepreneurial spirit is an inspiration to the Boost team. One of the core values of the company is “Be Bold”, a reflection of Leavitt’s enthusiasm to embrace the unknown and celebrate new ideas.
Nomination Title: Dean M. Leavitt
