Press Release For Immediate Release
Electronic Payments Achieves an Industry First with Four Consecutive Inc. 500 Rankings, Placing No. 493 on the 2011 Inc. 500 List of America's Fastest-Growing Private Companies
Calverton, New York - August 18, 2011 With an extraordinary three-year growth rate of 689% and revenues exceeding $42MM, Electronic Payments today announced that it is once again one of Inc. magazine's fastest 500 growing private businesses in the nation, ranking 493rd on the 2011 Inc. 500 list. This achievement marks the company's fourth year as an Inc. 500 honoree, which makes Electronic Payments the first ISO and acquirer to receive the recognition for four consecutive years.
Founded in 2000, Electronic Payments is a premier payment and transaction processor that conducts business nationwide. In 2008, 2009 and 2010, respectively, Inc. magazine named the company 81st, 70th and 240th fastest growing private business in America. The company's slogan, "innovation through every transaction," reflects the extensive offerings that enable Electronic Payments to consistently achieve excellence and lead the industry with new strategies, products and services.
"If you want to know which companies are going to change the world, look at the Inc. 500," said Inc. editor Jane Berentson. "These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
Electronic Payments consistently takes adversity and challenges in stride, with executive management exhibiting exemplary work ethic and a keen ambition for growth. "I started this business in my college dorm room without any support staff," reflects Michael Nardy, Founder and CEO. "In order to excel, I had to turn on a dime, discover innovative ways of conducting business and instill flexibility in my daily operations. It's the smaller, agile companies, like Electronic Payments and those represented in Inc. 500, that are best equipped to meet these challenges."
It's that vision and attitude that has catapulted Electronic Payments onto the Inc. 500 list for four consecutive years. The company now processes payments for over 20,000 merchants nationwide and boasts a sales force of over 500 national agents. The company recently celebrated its fifth year providing 24/7/365 in-house technical support with zero hold times, a service and accomplishment that few other companies possess.
"While we continue to expand tremendously," continues Mr. Nardy, "we maintain the same basic principles that have brought us this far - the same principles I developed over 10 years ago in my college dorm room." As far as future challenges are concerned, "I like to think challenges are masked opportunities. It's just a matter of recognizing the possibilities and making it happen. We are more dynamic and resourceful than we were 10 years ago, which enables us to leverage industry demands and come out on top. I'm excited to see what the future holds and I am confident that we'll bring the same ambition and drive that has made us an Inc. 500 company for the past four years."
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.