News from the Wire
VizyPay reports Q1 2023 results
Tuesday, April 18, 2023 — 14:00:43 (UTC)
Waukee, Iowa (April 18, 2023) – Leading payment processing fintech VizyPay today announces results for the first quarter of 2023.
“We just celebrated our sixth anniversary and in those six years, we’ve proven that VizyPay is not going anywhere. We’re shaking things up in the payments space,” said CEO and Founder Austin Mac Nab. “The immense growth of our staff and our developing technology enables us to go above and beyond in our goal to help rural small town businesses save money on payment processing. I’m so proud to have reached the 100 employees mark this year. It’s only going to get better from here.”
First Quarter 2023 Operational and Financial Highlights:
- Payments Processed – In the first quarter, VizyPay processed 22% more year-over-year. In total, there has been over $4.5 billion in payments processed since 2017.
- Growing Revenue – VizyPay’s revenue increased 28% year-over-year. The FinTech was recognized as the No. 85 fastest growing company in the Midwest and the No. 2 in Iowa by Inc.
- Regionals with a revenue growth of 187%.
- Record Cash Discount 2.0 Savings – The award-winning CDP 2.0 saved merchants over $9 million in unnecessary payment processing fees this past quarter, an increase of 22% year-over-year.
- Team Building - VizyPay heightened its dedication to team building and improved services in Q1 with the implementation of its Power Rankings tool. The platform guides, motivates and rewards agents on their objectives and efforts. It also allows leadership to find growth areas and work with the agents to achieve their goals.
- Excellent Customer Service – In March, VizyPay won a Stevie Award for its customer service performance. Hold times with the support team remain under 30 seconds. It has reached 1,000+ reviews on Trustpilot and consistently maintained a 4.9-star rating.
- Ballooning Staff Numbers – More than 110 people are staffed at VizyPay, an increase of 23% from the previous year. Of that, 62% are minorities and 95% are hired from outside of the payments industry. Each new hire undergoes training and education at the company’s “Vizonian University” and sets them up for success in the payments space. Moreover, the company fosters the next generation of payments leaders with a staff makeup of 48% Millennials, 40% Gen Z’ers and 12% Gen X’ers.
About VizyPay
Headquartered in Waukee, Iowa, VizyPay was founded in 2017 by 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. Making a huge splash nationwide by being honest and simple, VizyPay ranked #918 on the 2022 Inc. 5000 list of fastest-growing private companies in America with a three-year revenue growth of 695%.
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Source: Company press release. 
Categories: Earnings report
