Payments prominently featured in Inc. 5000

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.

Advertising, marketing, business services

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:

• Lendit Fintech, No. 683: This New York-based firm organizes Lendit, a popular alternative lending and nonbank finance conference.

• Cardlytics, No. 2886: Atlanta-based Cardlytics provides data monetization services to financial institutions, which measure and connect retail purchases to consumers, helping marketers identify and reach a wider consumer audience.

• BlueSnap, No. 4133: This Waltham, Mass.-based ecommerce company specializes in secure global payment processing and payment gateways for business-to-business and business-to-consumer businesses.

• OptConnect, No. 4766: Utah-based OptConnect provides machine-to-machine wireless connectivity for ATMs, kiosks, digital signage, facility management, smart safes and other industries.

Financial services

Numerous payments industry technology companies and service providers were grouped in the financial services sector, including the following organizations:

• Argus Merchant Services, No. 65: This New York-based company provides flexible credit and debit card payment processing platforms for retailers, restaurants and hospitality businesses.

• Fundera, No. 69: This is a New York-based online lending marketplace where small business owners can apply to 30 lenders in a single application.

• CardFlight, No. 139: New York-based CardFlight provides payment technology and mobile POS solutions for merchant service providers, banks and ISOs.

• National Merchants Association, No. 537: San Diego-based NMA provides credit card processing services for small and midsize businesses.

• Pinpoint Payments, No. 760: This ecommerce provider, based in New York, caters to online retailers.

• Lighter Capital, No. 776: Seattle-based Lighter Capital helps technology and digital media entrepreneurs secure financing.

• Kontrol Payables, No. 779: Spokane-based Kontrol Payables facilitates virtual card payments for corporate and nonprofit organizations.

• North American Payment Solutions, No. 1902: Doing business as American Payment Solutions and based in Mesa, Ariz., the company specializes in the software, retail and hospitality industries.

• Clearent, No. 2652: Clayton, Mo.-based Clearent provides such services as next-day funding, graphical web-based reporting and a proprietary payment platform.

• First American Payment Systems, No. 4271: This Fort Worth, Texas-based payment technology services provider delivers in-store, online and mobile payment options paired with the latest in payment security, across a wide range of verticals.

Software

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:

• Conversion Point Technologies, No. 882: This consortium of ecommerce technology providers, headquartered in Irvine, Calif., helps retailers, advertisers and agencies connect with, acquire and retain customers.

• CallRail, No. 931: Based in Atlanta, the company provides call software to companies and marketing agencies, including phone call tracking, recording and analytics. Its software integrates with Wordpress, Google analytics and Salesforce.

Qualifying criteria

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:

• Established on or before March 31, 2014

• Headquartered in the United States

• Privately held, for-profit and independent company as of Dec. 31, 2017

• At least $100,000 in revenue generated in 2014 and $2 million by 2017

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 press@greensheet.com, and we'll post it under News From the Wire on our home page.

Editorial 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 press@greensheet.com, and we'll post it under News From the Wire on our home page.

Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.

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