July 25, 2014 5:46 PM ET

IT Services

Company Overview of iPayment Inc.

Company Overview

iPayment, Inc. provides credit and debit card payment processing services to small merchants in the United States. It performs various functions for small merchants, such as application processing, underwriting, account set-up, risk management, fraud detection, merchant assistance and support, and equipment deployment and chargeback services. The company’s processing services enable merchants to accept credit cards and other forms of payment, including debit cards, checks, gift cards, and loyalty programs in traditional card-present or swipe transactions, as well as in card-not-present transactions, such as those conducted over the phone or through the Internet. It markets and sells its serv...

126 East 56th Street

New York, NY 10022

United States

Founded in 1999

422 Employees

Phone:

212-802-7200

Key Executives for iPayment Inc.

Co-Founder
Age: 46
Chief Financial Officer
Age: 48
Chief Accounting Officer and Vice President of Finance
Age: 44
Senior Vice President
Age: 52
Vice President of Sales - Independent Sales Groups
Compensation as of Fiscal Year 2014.

iPayment Inc. Key Developments

Verifone Systems, Inc. And iPayment Inc. Partner to Offer iPayment Pos for Small Businesses

VeriFone Systems, Inc. and iPayment, Inc. have partnered to offer iPayment POS, a tablet point of sale solution designed for small businesses. The new iPayment POS solution provides small business owners with advanced capabilities and business acumen previously only available to larger merchants.

iPayment, Inc. Partners with VeriFone Systems, Inc. to Bring Next Generation Tablet Point of Sale Solution

VeriFone Systems, Inc. and iPayment, Inc. announced complete tablet point of sale solution. iPayment POS is designed for the more than 150,000 small business merchants iPayment currently serves directly, through independent sales organizations (ISOs) and other multiple direct distribution channels throughout the U.S. The solution utilizes secure encryption for payment processing and provides a suite of business tools that empower small merchants with capabilities formerly enjoyed only by larger retailers, such as inventory management, service and appointment scheduling, business analytics, customer management, built-in loyalty, and marketing campaigns. Merchants don't have to worry about emerging payment options, as the VX 805 PIN pad is able to support NFC, EMV, PIN/Debit, and mag-stripe.

iPayment Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

iPayment Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the three months, the company reported total revenues increased by 1.4% to $158.1 million from $156.0 million for the first quarter of 2013. This increase was primarily due to higher volume per merchant, partially offset by a lower number of merchants on file during the first quarter of 2014 against the first quarter of 2013. Income from operations decreased 34.4% to $7.1 million compared with $10.9 million a year ago. Income from operations was affected by lower net revenue and lower embezzlement recoveries, net of remediation costs. Net and comprehensive loss of $11.5 million and consolidated EBITDA of $19.8 million compared with a net and comprehensive loss of $3.7 million and consolidated EBITDA of $24.4 million for the first quarter of 2013. Net and comprehensive loss for the first quarter of 2014 was affected by lower income from operations, higher income tax provision (benefit), and higher interest expense, offset by lower other expense. Consolidated EBITDA for the first quarter was affected primarily by lower revenues, net of interchange, lower embezzlement recoveries, and lower proforma credit for acquisitions. Additionally, in the quarter, the company used $0.800 million for capital expenditures.

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