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Table of Contents

Lead Story

Mobile gaining ground in stores

Ann Train

News

Industry Update

CVS Pay joins mobile payment roster

Walgreens rewards Android, Apple users

Oracle fails to predict, prevent POS breach

NFC a bargaining chip for Apple, Australian banks

Features

PayPal and Square: Q2 2016 earnings

Payments maintains strong presence on Inc. 5000

Mobile debit shift

Views

Virtual cards deserve a place among healthcare payment choices

Jeffrey W. Brown
VPay

No cash? No checks? Nonsense.

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
To own or not to own the POS system sales process

John Tucker
1st Capital Loans LLC

Selecting the right ISO partner

Aaron Nasseh
Finical Inc.

Become an agent of change in payments

Jeff Fortney
Clearent LLC

Payfac: Fad or new norm?

Adam Atlas
Attorney at Law

Is it time to hunt for greener pastures?

Steven Feldshuh
Merchants' Choice Payment Solutions East

Company Profile

Forte Payment System

New Products

Comprehensive POS, business management

Groovv POS
Total Merchant Services Inc.

Compact mag stripe, smart card, contactless reader

UniPay III
International Technologies and Systems Corp.

Inspiration

Qualify prospects, save time

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

September 12, 2016  •  Issue 16:09:01

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Payments maintains strong presence on Inc. 5000

Payments honorees have once again graced the 2016 Inc. 5000 list. Published online in August 2016 by Inc. Media, the 35th annual compilation represents America's fastest growing privately held companies. Westchester, Ill.-based C&H Financial Services Inc., a merchant acquirer, ranked 21st this year. Inc. Media President and Editor in Chief Eric Schurenberg called the list a true measurement of success, noting the award must be earned and cannot be inherited. "No one makes the Inc. 5000 without building something great – usually from scratch," he said. "That's one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails."

The 2016 Inc. 5000 collectively billed $200 billion, generating 640,000 jobs over the last three years, approximately 8 percent of the total U.S. economy during the same period, the company stated. An interactive database with details and company profiles is available at www.inc.com/inc5000.

Qualifying criteria

The talent pool consisted of private, for-profit companies founded no later than March 31, 2012, with U.S. headquarters and standalone operations through Dec. 31, 2015. Some contestants that subsequently went public or were acquired in 2016 by larger firms met the criteria due to their independent status at the end of 2015. Annual minimum revenue requirements climbed from $100,000 in 2012 to $2 million in 2015. Inc. Media stated it reserves the right to exclude applicants for subjective reasons. The top 500 companies will be featured in a special September issue of Inc. magazine.

Payments, lender, fintech categories

Payments analysts expect to see even more small to midsize financial institutions, fintech firms and independent software vendors represented in the 2017 Inc. 5000. Continued growth in financial services, fintech and payments categories may warrant additional category designations beyond generic headings currently provided in the interactive database, such as "business products and services," "financial services," "software," and "computer technology."

The financial services category included alternative lenders, cash advance companies, merchant acquirers and an array of business service providers. Congratulations to the following top 500 honorees in the payments realm:

If your payment-related company was in the top 500 this year and isn't on this list, email laura@greensheet.com. We'll add you to this article's online version.

Cautionary examples

Rapid growth can be a double-edged sword, as a company called Fuhu Inc. recently learned. The startup topped the Inc. 5000 list in 2013 and 2014, only to implode in 2015. To help others learn from their mistakes, founders Lindsay Blakely and Burt Helm are scheduled to speak at the Inc. 5000 Conference and Awards Ceremony to be held Oct. 18 to 20 in San Antonio, Texas.

"We twice celebrated with the Fuhu founders; now, in sadness, Blakely and Helm offer a postmortem designed to help you learn from their missteps," Inc. Media wrote, adding that the Inc. 5000 is typically "a milestone on the way to further success."

2016 honorees will be formally recognized at the upcoming conference. The event will feature a mix of workshops, keynote presentations and social functions. Speakers will include best-selling author Tony Robbins, SoulCycle co-founders Elizabeth Cutler and Julie Rice, and other leading business strategists.

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 | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems