Company posts 56% revenue increase in integrated processing business, expands investment in support services, enters into new vertical markets and adds Canadian presence in 2006
Newark, CA – February, 27, 2007 – Payment Processing Inc. (PPI) today announced company figures for 2006 that reflect the perpetually increasing demand among software developers and their customers for the firm’s integrated payment processing solutions and services. The company continues to gain momentum by posting double-digit growth figures for the ninth consecutive year. Annual revenue for integrated payments increased 56% percent over 2005 and 141% percent over 2004 figures.
“This continued growth highlights the increased demand for integrated payments from an ever expanding range of markets. Increases in electronic payments covering a wide range of payment types are straining current manual processes used by companies that manage this revenue stream from stand-alone terminals,” says Chuck Smith, PPI Chairman and CEO. “Software developers and their customers have quickly recognized that our cutting-edge technology and full range of services helps them develop robust integrated payment solutions for their customers – with minimal effort and lower development and maintenance costs.”
PPI added 225 new software developer partners to its roster in 2006, penetrating new industries such as accounting, automotive, distribution, legal practice management, parking, kiosk, and vacation rentals. The company also maintained consistent growth in traditional markets such as restaurant, dry cleaning, retail and self storage.
Other PPI accomplishments in 2006 include:
- The asset acquisition of Paradata, a Canadian based company with advanced gateway technology – The Paradata technology (now branded PPI PayMover) gave PPI the ability to accelerate development plans and provide software developers with a single payment gateway and integration point for all payment types, as well as provide services to software developers with customers in Canada and the US.
- The launch of credit card data security services for software developers – The first of its kind, PPI focuses on helping developers implement more stringent practices and ensures that their application payment module is stable, secure and compliant with industry standards. Services include support for both Payment Applications Best Practices (PABP) for packaged applications, and Payment Card Industry (PCI) Compliance for Software-as-a-Service (SaaS) applications.
- Expansion of merchant and software developer services with the addition of 64 new employees primarily in the areas of technical support, product development and developer services.
For more information, please visit the PPI web site at www.paypros.com or call (800) 774-6462 ext. 4989.
ABOUT PAYMENT PROCESSING, INC.
Payment Processing, Inc. (www.paypros.com) is the industry leader for integrated payment solutions. PPI provides software developers with a full range of services for integrating electronic payments including gateway services, integration support, merchant support and services, and PABP/PCI security assistance. Additionally, PPI provides software developers with the ability to generate additional revenue while substantially reducing their support costs for integrated payments.
Today, PPI is the most successful company in the world focused on integrated payment processing, supporting over 600 software developers and more than 19,000 merchants with efficient, cost-effective payment solutions. In 2006, PPI processed over $3 billion in Visa® and MasterCard® payments.
PPI PayMover is a service mark of Payment Processing, Inc.
CONTACT:
Amy Needham
Crossroads Public Relations
Telephone: (919) 270-9377
Email: aneedham@crossroadspr.com
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