Shift4 Doubles Merchant Base in 2005
Shift4 Corporation Approaches $15 Billion in Payments Processed
LAS VEGAS, NV, January 26, 2006. $$$ ON THE NET(R), Shift4's web-based payment gateway solution with real-time electronic payment authorization, settlement, reporting and fraud control capabilities, processed nearly $15 billion in payments, representing over 92 million transactions for more than 11,000 merchants in 2005. The number of merchants handled in 2005 is more than double that of 2004.
Contributing to Shift4's strong growth was a number of significant new customer signings, including Choice Hotel's International(R), Puma(R) North America and Gucci, who selected $$$ ON THE NET to process their credit, debit, gift card and check transactions. $$$ ON THE NET connects a merchant's point-of-sale, property management and ecommerce systems to the bank/processor of their choice, allowing them to leverage the power of the Internet to process transactions at an ultra-high speed, while simplifying their accounting process, adding real-time enterprise-wide reporting and minimizing fraudulent and errant transactions.
"After 12 years, company growth usually levels off and becomes stagnant, but with our commitment to being the market leader in payment processing, Shift4 continues to rapidly increase our merchant base with dedicated teamwork, innovative products and powerful partners," stated J. David Oder, President and CEO, Shift4. "I am confident that 2006 will be another banner year as we continue to target new customers and add new features and more security to $$$ ON THE NET for our existing clients."
A key factor in Shift4's growth was the national exposure of its inaugural Transaction Security Summit and the leadership role it has commandeered in the payment processing industry. Shift4 is the only organization to unveil a new technology for credit card data security, called Tokenization, which help merchants be more compliant with the Payment Card Industry Data Security Standard (PCI DSS).
"We not only provide the best gateway solution for our partners and customers, but we also pride ourselves in being an advocate leader for secure and compliant payment processing, all of which contributed greatly to the overall company growth for 2005," concludes Mr. Oder.
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