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Credit Card Platform Wow Payments Doubles Its Space at 40 Exchange Place

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Credit card processing platform Wow Payments will add more office space to its tab at 40 Exchange Place.

Wow signed a five-year expansion and renewal for 5,368 square feet on the fourth and seventh floors of the 20-story Financial District building, landlord GFP Real Estate announced.

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Asking rent was $45 per square foot, according to a spokesperson for GFP. 

The payment processing startup has been in the building since the company’s founding in 2016. It currently occupies 2,595 square feet on the fourth floor and will keep some of that space while moving most of its footprint to the seventh floor, which was previously home to Etihad Airways, the national airline of the United Arab Emirates.

Wow Payments’ credit card processing system targets small businesses and charges a flat annual rate with no credit card fees and no contract, according to its website.

GFP’s Allen Gurevich, who brokered both sides of the deal, said Wow Payments needed a bigger office because of its rapid growth.

“We are happy to be able to accommodate Wow at 40 Exchange as they continue to expand their operations,” Gurevich said in a statement.

Aside from Wow, financial services firm Dovetail Investment Group recently signed on for 3,469 square feet on the sixth floor of 40 Exchange, and law firm Spiro Harrison & Nelson took 2,125 square feet on the 14th floor.

The 300,000-square-foot office building between Broad and William streets was once known as the Lord’s Court Building and served as the headquarters of the New York Stock Exchange in the late 19th century.

These days it’s home to tenants including entertainment and lifestyle media company A360 Media, property management firm Siren Management and nonprofit The Epilepsy Foundation of Metro New York, as Commercial Observer previously reported.

Abigail Nehring can be reached at anehring@commercialobserver.com.