Press Release For Immediate Release
Electronic Payments is Named to the Inc. 500/5000 for the Fifth Consecutive Year, Ranking No. 1,340 on the 2012 Inc. 500/5000 List of America's Fastest-Growing Private Businesses
CALVERTON, NEW YORK – September 27, 2012 – With revenues surpassing $57 million and a three-year topline revenue growth of 229 percent, Electronic Payments was recently named number 1,340 on Inc. magazine’s sixth annual Inc. 500/5000, an exclusive ranking of the nation’s fastest growing private companies. The list represents the most comprehensive look into America’s most important economic segment – independent entrepreneurs – and marks Electronic Payment’s fifth year as an Inc. 500/5000 honoree. The company joins Yelp and Chobani among other prominent brands featured on this year’s list.
Since 2000, Electronic Payments has been a leading provider of payment processing solutions for businesses nationwide. From 2008 – 2011, respectively, Inc. magazine ranked the company as the 81st, 70th, 240th and 493rd fastest growing private company in America, making it the first ISO and acquirer to achieve such recognition.
In a stagnant economic environment, median growth rate of Inc. 500/5000 businesses remained at an impressive 97 percent. The companies on this year’s list reported aggregate revenue of $299 billion combined and created over 400,000 jobs in the past three years. Electronic Payments has nearly doubled its personnel since 2008, expanding its customer service, technical support, information technology, marketing and communications business sectors.
Michael Nardy, CEO of Electronic Payments, stated, “There are times when economic downturn can be opportunistic for business, which, fortunately, is our case. While many businesses implemented conservative fiscal practice during the height of the recession, we recognized the growing demand for our services and invested in research, development and support. We started to build our own network for credit, debit and gift card transactions and made significant investments in our various processing applications, platforms and payment gateway.”
The company now processes payments for over 20,000 merchants nationwide and boasts a sales force of over 500 national agents. They even opened a second office and data center in Boca Raton, Florida earlier this year to accommodate such growth.
“We are fortunate to be able to expand in this capacity, especially at this point in time,” commented Matthew Findlan, COO of Electronic Payments. “Within the next year, we’ll extend our staff and resources in Florida as well as increase our sales team nationwide. It’s an exciting time in Electronic Payments’ substantial history.”
Inc. Editor Eric Schurenberg also added, “Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is.”
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. Complete results of the Inc. 5000, including company profiles and an interactive database can be found at www.inc.com/5000.
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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.
The 2012 Inc. 500/5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2011 (since then, a number of companies on the list have gone public or been acquired). The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.