Eight payment companies listed on Inc. 500

This article originally appeared in The Green Sheet Issue 10:09:02

The annual Inc. 500/5000 rankings of the fastest growing private U.S. companies, based on revenue growth from 2006 to 2009, was released Aug. 24, 2010. Aggregate revenue among the Inc. 500 was $11.3 billion, down from $18.4 billion last year, and median three-year growth at 1,231 percent was up from 880.5 percent in 2009. In all, 42 payments industry enterprises were recognized among the top 5000 companies, with eight earning the distinction of inclusion in the top 500.

Century Payments Inc., of Frisco, Texas, rated 11th overall, was the highest ranking payment company, in terms of growth, on this year's Inc. 500 list. An emerging industry leader, Century reported three-year sales growth of 10,471 percent. It has more than 200 full-time employees throughout the United States.

"To be number 11 in our first year of eligibility is exciting," said Robert Wechsler, Century's Chief Executive Officer. "We are the only company in our industry that develops, builds and manages sales forces for companies looking to expand their offerings and services to electronic payments." The company is recognized for delivering a nationwide cause-based distribution network of professionals through its Every Swipe Counts branded program.

Electronic Payments Inc., of Calverton, N.Y., secured a spot in the top 500 for the third consecutive year, with revenue of $31.9 million in 2009 and 13,359 percent growth reported since 2004. The company was ranked 240th overall this year, and placed 15th in the financial services industry category, up from 70th in this category for 2009. Michael Nardy, founder and CEO of EPI, stated, "It's an amazing honor to be a three-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."

Central Payment Corp., a San Rafael, Calif., com-pany founded in 2006 by twin brothers Matthew and Zachary Hyman, was recognized for an annualized growth rate of 976 percent in the past three years. The company ranked 18 among financial services companies, debuting at 309 on the overall list of the 500 fastest growing companies.

2010 payment companies ranked in Inc. 500:

#h4 Century Payments Inc.

• Overall 2010 ranking: 11
• 2010 Financial Services ranking: 2
• Growth (2006-2009): 10,471 percent
• Revenue (2009): $15.7 million
• Year founded: 2006
• Website: www.centurypayments.com
• Business: Payment processing and consulting services

#h4 Q2ebanking

• Overall 2010 ranking: 124
• 2010 Financial Services ranking: 9
• Growth (2006-2009): 2,048 percent
• Revenue (2009): $11.2 million
• Year founded: 2004
• Website: www.q2ebanking.com
• Business: Software and services for online, mobile, voice banking

#h4 BluePay Processing LLC

• Overall 2010 ranking: 128
• 2010 Financial Services ranking: 10
• Growth (2006-2009): 2,017 percent
• Revenue (2009): $60.4 million
• Year founded: 2003
• Website: www.bluepay.com
• Business: Global credit, debit, electronic check payment processing

#h4 PaymentMax Processing Inc.

• Overall 2010 ranking: 151
• 2010 Financial Services ranking: 12
• Growth (2006-2009): 1,830 percent
• Revenue (2009): $5.8 million
• Year founded: 2004
• Website: www.paymentmax.com
• Business: Retail, health care, online, wireless payment processing

#h4 Electronic Payments Inc.

• Overall 2010 ranking: 240
• 2010 Financial Services ranking: 14
• Growth (2006-2009): 1,284 percent
• Revenue (2009): $31.9 million
• Year founded: 2000
• Website: www.electronicpayments.com
• Business: Credit and debit card payment processing

#h4 Central Payment Corp.

• Overall 2010 ranking: 309
• 2010 Financial Services ranking: 18
• Growth (2006-2009): 976 percent
• Revenue (2009): $47.2 million
• Year founded: 2006
• Website: www.centralpaymentcorp.com
• Business: Credit, debit, gift card, check payment processing

#h4 Diamond Mind Business Services

• Overall 2010 ranking: 383
• 2010 Financial Services ranking: 21
• Growth (2006-2009): 788 percent
• Revenue (2009): $6.6 million
• Year founded: 2004
• Website: www.diamondmindschools.com
• Business: Electronic payment services to K-12 independent schools

#h4 Merchant One

• Overall 2010 ranking: 436
• 2010 Financial Services ranking: 24
• Growth (2006-2009): 691 percent
• Revenue (2009): $17.2 million
• Year founded: 2001
• Website: www.merchantone.com
• Business: Credit card processing services for businesses of all sizes