Scottsdale, Ariz.-based BlueSquare Resolutions LLC earned top honors among the 34 payment processors named to the 2014 Inc. 500/5000 list of fastest-growing private companies in the United States. Rankings were determined based on percentage of revenue growth from 2010 to 2013. The three-year growth rate for companies on the list this year averaged 516 percent.
BlueSquare secured the Inc. 500 No. 19 position and placed No. 1 in the Financial Services category. The company advanced from the No. 101 position last year by posting three-year sales growth of 11,489 percent and generating $46.4 million in 2013 revenue. "We worked extremely hard on our acquisition strategy and were able to develop new, organic acquiring relationships that yielded great results for us in 2013," said Nick Glincher, President of BlueSquare, who noted that the company expects to see similar growth this year.
Since launching in 2009, BlueSquare has focused on ISOs with small to midsize merchant portfolios that either seek additional liquidity or the back-end support they offer to advance the ISO's own growth initiatives. "I'm happy that we are lucky enough to see transactions and that people in the space trust us enough to refer business to us, whether it be a referral relating to an ISO that wants to get acquired, needs debt or whatever the case may be," he stated.
Additional payment companies included among the Inc. 500 were Fishers, Indiana-based Advocate Merchant Solutions Inc. (151); Encino, Calif.-based GrayPay LLC (157); Boca Raton, Fla.-based TouchSuite (259); Whitefish, Mt.-based Glacier Payments (338); and Virginia Beach, Va.-based ToCharge LLC (388).
This marks the sixth appearance for TouchSuite. "When I started this company, I determined that it required at least one new client a day just to break even," said Sam Zietz, Chief Executive Officer at TouchSuite. "Today TouchSuite manages thousands of client accounts and earns tens of millions of dollars annually – an accomplishment I attribute in no small part to the incredible talent, innovative thinking and entrepreneurial spirit that comes together in this company." Other Inc. 5000 payment processors honored in order, starting at the top were Repay-Realtime Electronic Payments, Total Apps Inc., Clearent LLC, FlashBanc LLC, MeritCard Solutions LP, Allied Wallet Ltd., Payoneer, PayLease, AffiniPay, Bank Associates Merchant Services (BAMS Holdings Group LLC), Vision Payment Solutions, United Bank Card (Harbortouch), Miva Merchant Inc., Paymetric, CardConnect, Reliance Star Payment Services Inc., Expect Payment Solutions LLC, Payscout Inc., Central Payment, Security Card Services LLC, Gravity Payments, YapStone Inc., Vantage Payments, Point & Pay LLC (a wholly owned subsidiary of North American Bankcard), Infintech LLC, Electronic Cash Systems (a division of U.S. Alliance Group Inc.), Forte Payment Systems and Bluefin Payment Systems.
Additional merchant-supporting companies that fared well this year were Base Commerce LLC (23), an application-programming-interface-driven commerce platform; shopping app developer Shopkick Inc. (191); electronic billing and payments software provider Transactis (420); and multimarketplace management software provider Solid Commerce (475). Also spotted in the Inc. 5000 were Chargebacks911, HubSpot Inc., RetailNext Inc., Executech Lease Group, Bigcommerce Party Ltd., Advanced Fraud Solutions, Autoscribe Corp., Payscape Advisors, G2 Web Services, USAePay and Secured Retail Networks Inc.
Prepaid and loyalty gift card program providers who made the grade were PrePay Nation (97) and Z-Prepay (377), followed by iSend, CashStar Inc., GiftCardRescue.com and GiftCards.com LLC.
Among merchant funding businesses familiar to the payments industry were Retail Capital, FastPay Partners LLC, Reliant Services Group, Fora Financial, OnDeck Capital Inc., Channel Partners LLC, Swift Financial Corp., CAN Capital, and Merchant Cash & Capital, to name several.
Congratulations to everyone in the payments industry whose hard work and dedication earned recognition in the Inc. 500/5000 winners' circle this year. If your company was so honored and is not included herein, please send a note to email@example.com, and we'll see that you're mentioned in an upcoming Readers Speak and added to the article's HTML version.
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