Press Release - For Immediate Release
Long Island-based Electronic Payments Achieves INC 500 Ranking for 3rd Straight Year – Caps 3rd Year Listing with revenue of $31.9 Million and 13,359% in Growth Since 2004
CALVERTON, NEW YORK – September 3, 2010 – Long Island-based payment processor, Electronic Payments, announced they are again on INC Magazine’s list of the top 5000 fastest growing private businesses nationwide, this year being named the 240th fastest growing private business in America for 2010. This achievement marks the 3rd year in a row the company has made the list.
Electronic Payments is a leading payment processor doing business in all 50 states. The company is based in Calverton, NY, and has garnered the support of more than 500 producing sales agents nationwide. It also does business with banks and associations, providing merchant service and affinity programs for their organizations. In 2008 and 2009, respectively, they received the honor of being named the 81st and 70th Fastest Growing Private Business by the magazine.
The 2010 Inc. 5000, unveiled August 24th on Inc.com, serve as a unique report card on the U.S. economy. Aggregate revenue is $11.3 billion—down from last year's $18.4 billion—but median three-year growth is 1,231 percent, substantially up from last year’s 880.5 percent. The companies on this year's list employ more than 45,000 people.
Michael Nardy, founder and CEO of Electronic Payments, commented, “It’s an amazing honor to be a 3-time consecutive INC 500 Honoree, and our entire team of employees and agents are excited to see all our hard work materialize into such an honor.”
Electronic Payments, started in the Boston College dorm room of Mr. Nardy, processes in excess of 2.5 billion dollars and 50 million transactions annually for roughly 15,000 businesses in all 50 states and Canada.
Mr. Nardy continued, “To think of what we have done as a company since 2004 and to watch our industry evolve during that time, I’m excited to see where the next 5 years takes us.” In addition to being ranked 240th overall on the entire INC 5000 list, Electronic Payments is ranked 15th nationally in the category of Financial Services, 22nd overall in the New York City region and 4th fastest growing on Long Island.
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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.