VizyPay reaches $1 billion in payments processed in three years
WEST DES MOINES, Iowa, Oct. 20, 2020 (GLOBE NEWSWIRE) -- VizyPay, an award-winning leader in the payment processing industry, today announces it has passed the $1B milestone in payments processed since its founding in 2017 and is projected to reach a collective $2B in processing in 2021.
The bootstrapped company has installed more than 7,000 merchants across the U.S. and has seen an 8,000 percent increase in revenue since its inception. VizyPay has seen exponential growth in three short years, now employing 35 full-time employees and over 600 independent contractors. In 2020, VizyPay also acquired long-time competitor Echo Daily, fueling the company’s rapid expansion.
The company’s success is due in-part to its unique Cash Discount Program (CDP), which has saved merchants more than $10.6M to-date. VizyPay is the only payment processing company to develop a program built specifically with small and medium-sized businesses in mind, empowering them to take control of their credit card processing and eliminate costly transaction fees and unpredictable processing bills. The Cash Discount Program locks a business owner into a low, flat monthly fee that allows for unlimited credit card transactions and offsets up to 100 percent of total processing fees, so their price never goes up and they are never hit with an unexpected processing bill.
“We founded VizyPay because we understood first-hand the pain points of payment processing and we were tired of seeing small business owners being taken advantage of,” said CEO and co-founder Austin Mac Nab. “We’ve built our company around transparency and the highest level of customer service, striving to build programs that help small business owners succeed and our independent contractors thrive. We are honored to have reached this major milestone for our company in such a short time and proud to be one of the fastest growing payment processing companies in the industry today.”
VizyPay has been aggressive in its hiring and training practices. The company spent half a million dollars to build a proprietary Customer Relationship Management (CRM) tool that allows it to hire, train, deploy and manage a nationwide salesforce of independent contractors. This has allowed VizyPay to rapidly grow its customer base across the country and has even turned some independent contractors into self-made millionaires.
“We owe our success to the hard work of our in-house and contracted team members and the loyalty of our thousands of merchants across the country,” says Frank Pagano, co-founder and Executive Sales Director of VizyPay. “As we look ahead to next year, we will continue to propel our rapid growth by implementing new products and services that benefit our clients and continue expanding our workforce both on the ground at our new office space in Des Moines as well as across the country with our rapidly expanding 1099 team members to reach our next milestone of $2B in payments processed.”
For more information, visit https://www.vizypay.com/ About
VizyPay was founded in West Des Moines, Iowa, by three entrepreneurs who each had either significant credit card processing experience or were previously small business owners. Their combined understanding of these different industries created the perfect cocktail for a credit card processing company that could truly look out for the business owner. VizyPay is growing rapidly by being honest and simple in an industry that is known for being complicated and deceitful. Their business model is unique and making a huge splash nationwide.