Flagship Product, $$$ ON THE NET®, Processes Nearly Six Billion Dollars in Transactions
Las Vegas, NV, January 28, 2004 – $$$ ON THE NET, Shift4’s web-based e-payment solution with real-time electronic payment authorization, settlement, reporting and fraud control capabilities, processed nearly $6 billion in payments, representing nearly 32 million transactions, in 2003. These numbers are almost quadruple those from 2002.
Contributing to Shift4’s strong growth was a number of significant new customer signings, including the N9NE Group, Purdue University and Kohler’s American Club, who selected $$$ ON THE NET to process their credit, debit, gift card and check transactions. Additionally, a large number of customers utilizing Shift4’s legacy application $$$ IN THE BANK® migrated to the more powerful, web-based $$$ ON THE NET solution in 2003.
“I am extremely pleased by our 2003 numbers. In December alone, our system was processing an average of over $750,000 per hour in payments,” stated J. David Oder, President & CEO, Shift4. “As we continue to target new customers and migrate our remaining $$$ IN THE BANK clients, I am confident these transaction numbers will continue to rise, so I am even more excited about the potential for 2004 and the years to follow.”
Another significant factor in Shift4’s growth has been the emergence of Shift4’s Channel Partner Program. Shift4’s channel partners are a collection of POS/PMS providers, consultants, solution developers and MSP/ISOs who act as resellers or referrers for Shift4, bringing $$$ ON THE NET to the customers and industries they know best. Shift4’s partners include many of today’s leading corporations, such as Retail Technologies International, CSRS Inc. and InnQuest Software.
“Our partners represent some of most well respected organizations in the industry who elected to partner with us in order to provide their customers with a more powerful, more comprehensive real-time payment processing solution,” stated Eric Hoke, Manager of Partners and Interfaces, Shift4. “By working with our partners, we have been able to deliver unprecedented end-to-end solutions to a variety of customers in a variety of markets and quickly and effectively expand our customer base.”
About Shift4 Corporation
Shift4, a leading developer of financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices and e-commerce markets. Through connectivity to most of the major processors, including Vital Processing Services, Global Payment Services, Fifth Third Bank, NDC Canada, First Data Corporation, American Express, Paymentech, Nova Information Systems, Chase Merchant Services, Bank of America, First Horizon Merchant Services and Planet Payment, $$$ ON THE NET provides both high speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions. $$$ ON THE NET also includes the ability to access, review and edit transactions prior to settlement, as well as a searchable, 24-month archive of transactions for reporting and charge back defense. Shift4’s solutions are designed to integrate with virtually any POS/PMS system and interface partners include Micros, RunIT, Aloha, Retail Pro, Smyth Systems, Digital Dining, Spa Soft and InnQuest. For more information, contact Shift4 at (702) 597-2480 or visit them online at www.shift4.com.