Pivotal Payments Reports Results for Fiscal Year 2011
One of North America's fastest growing payment processors displays aggressive growth
MONTREAL, February 1, 2012 – Pivotal Payments, one of North America's fastest growing payment processing companies today announced results for its fiscal year ending December 31st, 2011. The company posted increases in credit volume, recurring revenue, active accounts and overall transaction count over the same period in 2010.
Pivotal Payments continued its unprecedented operational growth in 2011 through the opening of a systems development office in Dallas, Texas, an expanded contact centre in Saint John, New Brunswick and continued strategic acquisitions in both the US and Canada. The company announced the development of HD3, an advanced, proprietary clearing and settlement processing platform and also launched PivotalONE, a unique loyalty program offering its clients in the US exclusive benefits and discounts on business-related items. Expansion of this program into Canada is Pivotal's next step, as the company seeks to strengthen and increase value of its overall service offering.
"We're extremely pleased by the tremendous growth we experienced in 2011 and have worked diligently in order to provide meaningful results that benefit our merchants and sales partners," said Philip Fayer, President and CEO, Pivotal Payments. "We're looking to continue on this trajectory of accelerated growth in 2012 by further developing innovative tools such as our HD3 processing platform and through the strategic expansion of our sales channels."
FISCAL 2011 HIGHLIGHTS:
- Volume increased 20.3%
- Revenue increased 15%
- Acquired the assets of American National Payments
- Transaction count increased 18%
- Active merchants increased 14%
About Pivotal Payments
Pivotal Payments is a leading provider and processor of merchant services throughout North America. It provides to both online and point of sale merchants a variety of services such as credit and debit card processing, electronic check conversion, merchant cash advance programs, loyalty/gift card programs and terminal management solutions. The company provides these services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants and dealerships. With offices across North America, Pivotal Payments has grown to over 400 employees and over 1,200 sales partners and serves more than 60,000 customers. The company processes over US$10 billion in annual transaction volume.
Company and product information are available at http://www.pivotalpayments.com
For further information:
Pivotal Payments Marketing Department