Press Release For Immediate Release
With a Five-Year Revenue Growth of 966 Percent, Electronic Payments Places Itself among the Top 500 Fastest-Growing Technology Companies for the Third Consecutive Year
Calverton, New York – Monday, December 3, 2012 – Electronic Payments, leading provider of merchant services and payment processing solutions, today announced it ranked No. 120 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Results are based on percentage of fiscal year revenue growth during the five year period from 2007 to 2011, in which Electronic Payments grew 966 percent.
This marks the third consecutive year the company has been featured on the list, having previously ranked 39th as a Technology Fast 500™ award winner in 2010 and 69th in 2011. The ranking also comes on the heels of Electronic Payments’ inclusion in this year’s Inc. 5000 list of fastest-growing private businesses in the nation. From 2008 – 2011, 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 receive the honor.
“Rampant growth is a tremendous achievement for any company at any given time; to experience growth that garners such recognition during economic downturn is just short of miraculous,” commented Michael Nardy, Electronic Payments Founder and CEO. “Thanks to our talented staff and our dedicated network of agents and business partners nationwide, we’re able to continue developing innovative technologies and resources that make Electronic Payments one of the companies represented on the prestigious Technology Fast 500™.”
“We are proud to honor the 2012 Technology Fast 500™ companies and commend them for their outstanding growth,” said Eric Openshaw, Vice Chairman, Deloitte LLP and US Technology, Media and Telecommunications (TMT) Leader. “These ground-breaking companies have outpaced their competition and are reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy,” stated Bill Ribaudo partner, Deloitte & Touche LLP and National TMT Leader for Audit and Enterprise Risk Services (AERS). “As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Electronic Payments for this impressive accomplishment.”
Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging from 128 percent to 279,684 percent from 2007 to 2011, with an average growth of 2,774 percent. Electronic Payments ranked number 32 in the Software category and 13th in the New York, New Jersey, Connecticut Tri-State region. For additional details on the Technology Fast 500™, including selection and qualifying criteria, visit www.fast500.com.
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About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500™, conducted by Deloitte & Touche LLP, provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500™ award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.
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.