Shift4’s 20 Years: A Look Back
A long time ago, in a galaxy, ahem, desert, far, far away…seven Founders completed the incorporation of a company that would go on to be a protector of merchants and forever change the world of payments. They named it Shift4, and this year, we’re celebrating its 20th anniversary of delivering the fastest, most secure payment processing in the galaxy.
OK. I’ll drop the Star Wars thing. But, after creating more than five billion tokens, we are the Jedis of tokenization and now we’re celebrating 20 years in the payments industry.
Did you know that DOLLARS ON THE NET® used to be known as $$$ IN THE BANK? Or, that Shift4 began with just seven innovative leaders and now proudly employs over one hundred and fifty of the best in their fields? How about the fact that even with the huge multitude of security technologies we’ve invented and the growth and success we’ve enjoyed as a company, we’ve never increased our rates to our merchants?
I learned a few of these facts when I recently sat down with one of the original Founders, Steve Sommers, Senior VP of Applications Development, to interview him for this article. I asked Steve what Shift4 has accomplished over the past 20 years that has made the biggest impact. He said, “The invention and introduction of tokenization to the payments industry has forever changed the way card payment information is protected. TrueTokenization® set the standard for securing sensitive card data at rest, when it’s most vulnerable, and continues to exceed the requirements established by PCI. But we haven’t just stopped there – today we offer the best protection available for data in transit and in process, too.”
Steve also told me that while he’s proud that Shift4 has always been a leader in security, the merchant-centric focus and delivering solutions that benefit the merchant is what this family-owned and operated business is truly all about. Shift4 was created to fulfill one customer’s accounting needs and we’re proud to say that our focus on providing the best payments solutions for merchants is still the basis for what we do and how we do it today – 20 years later.
The payments industry can be a complicated and convoluted one, but Shift4 always puts merchants first and has ensured that DOLLARS ON THE NET has remained the world’s largest independent payment gateway by not giving in to big bank buyouts. The past 20 years have been filled with industry innovation, commitment to merchant advocacy, and providing world-class customer support. We can’t wait to see what the next 20 years holds in store for us! May the force be with us!