November 15, 2001
Credit Card Transaction Volume Approaching Normal
Las Vegas, NV, November 15, 2001 – Shift4 Corporation today announced that it’s January through October 2001 dollar volume processed was $3.8 Billion and it meets the total transaction dollar volume from the entire year of 2000. September 2001 volume figures were significantly lower than that of the prior year but October figures show a significant recovery. Even with the temporary slowdown in credit card usage, Shift4 is on track to process $4.5 billion in transactions for the year 2001. These figures represent the total dollars processed for it’s entire line of Windows based products. Transaction volume for Shift4’s older DOS based products is not included in these figures.
“The events spawned by the September 11th tragedy hit many of our customers (merchants) hard. September 2001’s transaction volume was our worst month for the year as opposed to September 2000 being our best month for prior year. Since a large portion of our business is travel and entertainment related, this gives you an idea of what that industry is experiencing” says J. David Oder, President and CEO of Shift4. “Fortunately, the transaction figures for October show a dramatic recovery. At the current recovery rate, transaction volumes should be almost back to normal for November and December.”
Shift4 is a developer and provider of financial transaction processing software and services with a merchant centric focus. Shift4 was incorporated in 1994 and has a diverse customer base of merchants from many industries including retail, food and beverage, hospitality, MOTO, eCommerce, medical and auto rental. Some of Shift4’s processing and financial partners include Vital Processing Services, Global Payment Services, NDC Canada, First Data Corporation, American Express, Paymentech, Chase Merchant Services, Bank of America, and First Horizon Merchant Services. Interface partners include InfoGenesis, Micros/Fidelio, Aloha, SpaSoft, Positouch, Galaxy, Squirrel, Springer-Miller Systems, InnQuest, Able Commerce and numerous others.
Shift4’s Windows based products include $$$ IN THE BANK™ and DOLLARS ON THE NET™. More information about Shift4 can be found on their web site at www.shift4.com.