November 13, 2002
DOLLARS ON THE NET Passes $1 Billion Processing Goal for 2002
Las Vegas, Nevada, November 13, 2002 – Shift4 Corporation (www.shift4.com) announced that they have surpassed their 2002 goal of processing one billion dollars ($1,000,000,000 USD) through their DOLLARS ON THE NET(tm) ASP product.
“From January 1, 2002 through October 31 we moved $1.1 billion in credit card, debit card and check transactions through our DOLLARS ON THE NET service compared to $210 million for the entire 2001 calendar year. At our current clip, ignoring new sales, we will process in excess of $1.5 billion for the 2002 calendar year. Amazingly, these numbers do not include transactions processed through our $$$ IN THE BANK product, a more established product with a larger customer base” said Steven M. Sommers, Vice President Applications Development of Shift4. “It appears that our 2001 figures were affected by the events of 9/11 more than we expected when setting our goals for 2002. This was a hard one to predict since traditionally, September has always been our slowest month and our curve didn’t appear to dip much.”
“A big factor in attaining our goal was that we probably have the highest average ticket in the industry for a gateway service. This year, our October average ticket was $188 compared to a $146 average for the prior October.” said J. David Oder, President and CEO of Shift4. “Our pricing model for DOLLARS ON THE NET fits virtually any merchant, but our sales and marketing effort is focused almost exclusively on large enterprises and prestigious chains. While this focus has helped us by keeping our average ticket up, it has also made us one of the best kept secrets in the industry.”
About Shift4 Corporation
Shift4 is a developer and provider of financial transaction processing software and services with a merchant centric focus. Shift4 was incorporated in 1994 and has a diverse customer base of merchants from many industries including retail, food and beverage, hospitality, MOTO, eCommerce, medical and auto rental. Some of Shift4’s processing and financial partners include Vital Processing Services, Global Payment Services, NDC Canada, First Data Corporation, American Express, Paymentech, Nova Information Systems, Chase Merchant Services, Bank of America, First Horizon Merchant Services and Planet Payment. Interface partners include InfoGenesis, Micros/Fidelio, Aloha, SpaSoft, Run.It, EXIT41, Squirrel, Springer-Miller Systems, InnQuest, Retail Solutions, Smyth Systems and numerous others.
Shift4’s Windows based products include $$$ IN THE BANK(tm) and DOLLARS ON THE NET(tm). More information about Shift4 can be found on their web site at https://www.shift4.com.