Friday, August 17, 2018
The latest ranking of fastest-growing privately held U.S. companies, compiled annually by Inc. Magazine, includes numerous payments industry firms, which reflects growth and diversity in financial services. Inc. editor James Ledbetter noted that American companies encourage and depend on continual growth, which can present a unique set of challenges. For example, it is not easy to find good talent, Ledbetter pointed out. "A business that is doubling or tripling in size every few months usually needs new staff constantly--and that pace of hiring brings risk," he wrote.
CardFlight's founder and CEO, Derek Webster attributed his company's 139th ranking in the 2018 Inc. 5000 to his staff's talent and dedication, stating, "Our motivated team of almost 40 professionals work hard to enable our partners to serve small businesses everywhere."
Andy Powell, co-founder and CEO at CallRail, said his entire team is "ecstatic to make a second appearance on the Inc. 500. The ranking is a testament to our customer-centric culture."
Payments honorees represented numerous business categories across several industry sectors. The partial listing set forth in this article reflects the payments industry's expanding role in retail, hospitality and software as electronic transactions become increasingly embedded into U.S. lives and livelihood.
Merchants increasingly rely on service providers to help them solve business problems beyond payment card processing. Advertising and marketing solutions are delivering smart metrics and analytics that deliver real-time insights into customer behavior and campaign effectiveness. Exponential growth in emerging technologies has also benefitted payments industry companies working with ancillary industry service providers.
Following is a sampling of companies that blend these offerings:
Numerous payments industry technology companies and service providers were grouped in the financial services sector, including the following organizations:
Omnichannel and bring-your-own-device solutions are increasing demand for intelligent software solutions that are compatible with mobile, online and in-store commerce. These companies provide cloud-based subscription service offerings:
Ledbetter noted the companies listed in 2018 collectively amassed $206.2 billion in revenue in 2017, a 158 percent increase from $79.8 billion in 2014. Companies must meet the following standards to qualify:
Ledbetter additionally noted that companies on the 2018 Inc. 5000 list have all grown by at least 50 percent over the last three years.
Neil Randel, CEO of FAPS (No. 4271), called his company's listing in the 2018 Inc. 5000 list "a wonderful affirmation of the advancements we've made in the payments space, particularly given the rapid disruption happening within our industry. It also reinforces the critical role of payment-related service providers, and how a well-deployed payment technology solution can help businesses of all sizes achieve positive cash flow and increased profitability."
This article does not purport to contain every company on this year's list that is associated with the payments realm. If your payments-related business was named to the 2018 Inc. 5000 list and is not mentioned here, send a press release to email@example.com, and we'll post it under News From the Wire on our home page.
Editor's Note: This article does not purport to contain every company on this year's list that is associated with the payments realm. If your payments-related business was named to the 2018 Inc. 5000 list and is not mentioned here, send a press release to firstname.lastname@example.org, and we'll post it under News From the Wire on our home page.
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