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Table of Contents

Lead Story

Square: Passing fad or market changer?

Patti Murphy
ProScribes Inc.

News

Industry Update

PCI update addresses holes in wireless security

SmartMetric initiates suit against Visa, MasterCard

Eight payment companies on Inc. 500

Is self learning the next step in the fraud fight?

Trade Association News

Features

An interview with Alex Goretsky

Ken Musante
Eureka Payments LLC

Research Rundown

Alternative payments in the mobile space

Alex Grinberg
eWise

Envisioning an advertising-sponsored mobile payment network

Richard K. Crone
Crone Consulting LLC

Website in your pocket

Selling Prepaid

Prepaid in brief

Mobile prepaid builds bridge for underbanked

FTC redresses consumers for prepaid card scam

Views

Debit after Durbin

Patti Murphy
ProScribes Inc.

A fresh perspective on POS innovation

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
PCI essentials for MLSs

Bill Pirtle
MPCT Publishing Co.

How to plan your dream life

Dale S. Laszig
Castles Technology Co. Ltd.

ISOs and social media: Staying in compliance

Adam Atlas
Attorney at Law

10 tips for building a stronger LinkedIn profile

Marc W. Halpert
Your Best Interest LLC

Making use of receipt real estate

Stephen Enfield
POS Supply Solutions

Peering into payments' not so crystal ball

Nicholas Cucci
Network Merchants Inc.

Company Profile

Point of Sale System Services Inc.

New Products

A gateway to profit

RetailPAY
Nationwide Payment Solutions LLC

Inspiration

Your merchant ground control unit

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

September 26, 2011  •  Issue 11:09:02

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Eight payment companies on Inc. 500

Inc. magazine has good news for the payments sphere - the industry is among the fastest growing sectors in the U.S. economy. In 2010, the financial services industry grew 108 percent over 2009, the publication said in its annual Inc. 500/5000 rankings of the fastest growing businesses. The rankings are based on revenue growth from the end of 2007 through 2010.

Eight payment companies made it to the top 500 fastest growing companies list - the same number as in 2010; 44 payments industry companies reached the top 5,000. The top 500 list reports aggregate 2010 revenue of $10.5 billion while the reported aggregate revenue of the top 5,000 list is $185 billion, with a median three-year growth of 147 percent.

"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," Inc. Editor Jane Berentson said. "The Inc. 500 consists of these just-short-of-miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees and grown fast in difficult economic times."

Leading the payments industry on the list was PaymentMax Processing Inc. of Thousand Oaks, Calif., which placed at number 11 on the top 500 list. This company experienced growth of 10,058 percent over the three years and $10.8 million in revenue in 2010. An indication of how phenomenal the growth has been for this company is that last year it was listed at 151 on the top 500 list. PaymentMax said in a release the secret to its success is "lower rates, quicker account setup for merchants, rapid funding, more flexibility and around the clock customer support."

Century Payments Inc. came in at 12 on the top 500 list with 9,258 percent growth over three years and $22.5 million in revenue last year. Braintree Inc. finished 47th with 4,199 percent growth over three years and was listed sixth on the financial industries list. Electronic Payments Inc., which finished 493 on the this years list, is the first ISO to have attained an Inc. 500 ranking four years in a row.

A list of ISOs and payment processors included on the 2011 Inc. 500 List follows:

#h4 PaymentMax Processing Inc.

#h4 Century Payments Inc.

#h4 Entrust Bankcard

#h4 Electronic Cash Systems Inc.

#h4 Braintree Inc.

#h4 ECS Prepaid LLC

#h4 Merchant Services Direct

#h4 Electronic Payments Inc.

For additional news stories, please visit www.greensheet.com and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services