Press Release – For Immediate Release
Electronic Payments Named to Deloitte's Technology Fast 500 for Second Consecutive Year, Ranking As 69th Fastest Growing Company in North America
CALVERTON, NEW YORK – December 6, 2011 – Leading national payment and transaction processor, Electronic Payments, today announced that it ranked 69th on Technology Fast 500®, Deloitte's ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on the percentage of fiscal year revenue growth during the five year period from 2006 to 2010, in which Electronic Payments' revenue grew 1749 percent.
Since its establishment in 2000, Electronic Payments has grown to process secure payment transactions for more than 25,000 merchants nationwide, nearly tripling their sales force and increasing their in-house personnel by over 80% over the past five years. This marks the second consecutive year the company has been recognized in the top 100, having previously ranked 39th as a Technology Fast 500® award winner in 2010. It is also the company's second year in the New York region's Top 10, ranking number 3 in 2010 and number 6 in 2011.
"This recognition is especially significant since we're now simultaneously ranked on Deloitte's list of fastest growing technology companies and on Inc. magazine's Inc. 500 list of fastest growing privately held companies for multiple successive years," said Michael Nardy, Founder and CEO. "Attracting the large quantity of ISO, agent and merchant partners to attain such growth and acknowledgement within five years makes a statement about the quality of our products, abilities of our leadership, and our unmatched excellence in technological development."
"Electronic Payments, like all 2011 Technology Fast 500® companies, has excelled in fostering innovation and channeling it into spectacular growth - against the backdrop of one of the most challenging economies in history," commented Eric Openshaw, Vice Chairman and U.S Technology, Media and Telecommunications leader, Deloitte LLP. "Deloitte recognizes Electronic Payments for its remarkable accomplishment."
As a whole, 2011 Technology Fast 500® companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent. For additional details on the Technology Fast 500®, including selection and qualifying criteria, visit www.fast500.com.
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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.