Press Release - For Immediate Release
Electronic Payments Attains Second Inc. 500 Ranking, Placing No. 70 on the 2009 Inc. 500 List of America's Fastest-Growing Private Companies
Calverton, New York - August 13, 2009 - Innovative payment processor, Electronic Payments, Inc. (EPI), today announced that it has been named to Inc. magazine's 28th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies, for its second consecutive year. Thanks to a three-year growth rate of 1,953.5% and revenues eclipsing $17.6 million, Electronic Payments ranked No. 70 on this year's list, up from No. 81 in 2008.
Electronic Payments' success began in 2000, when CEO Michael Nardy started processing secure payment transactions for businesses and merchants while he was still an undergraduate student. The company has since grown to a sales force of 400 national agents and processes payment transactions for 15,000 businesses nationwide; furthermore, the company has added 25 new staff members over the past three years to facilitate the demands that accompany such rapid growth.
Michael Nardy, Founder and CEO, remarked, "We are extremely proud of our expansion and acknowledge our partners throughout the United States who have fueled our economic growth. I made a commitment to Electronic Payments the day I founded the business in 2000, but it's the dedication of our partners and growing staff that drives Electronic Payments and makes it an Inc. 500 company."
Mr. Nardy also notes that the Inc. 500 list is not only an honor, but a top priority. "Companies in the Inc. 500 raise the bar and strive for the unattainable. We continue to remain focused and develop pioneering technologies that set us apart from other industry leaders. Consequently, we deliver unprecedented merchant services and solutions that enable us to secure loyal clients that are so valuable to any growing company."
Companies on the Inc. 500 list are ranked according to the percentage growth of their annual revenue over a three-year period. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
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About Electronic Payments
With “Innovation through every transaction™”, Electronic Payments has distinguished itself as one of the fastest growing and highly regarded privately held payment and transaction processing companies in the United States. Electronic Payments currently serves businesses in all industry types and acquires new businesses through a network of agent banks, sales agents and independent sales offices (ISOs). Visit www.electronicpayments.com for additional information or visit www.bankcardprogram.com to learn more about our ISO and MLS programs.