Electronic Payments Processes $3.5 Billion GPV in Q3 with 12% Increase over 2019; Reports COVID-19 Recovery in Key Business Sectors
Prioritized investments in payments and point of sale technology drive Electronic Payments’ gross processing volume (GPV).
Calverton, New York — November 3, 2020 — class="subtitle mb-5">
– Electronic Payments, Inc. (EPI), national leader in payments and point of sale technologies, experienced a 12% increase in gross processing volume (GPV) for the third quarter of 2020 compared to the same period in 2019. Third quarter GPV exceeded $3.5 Billion amid the ongoing COVID-19 pandemic. The company attributes the growth to helping small businesses across the country navigate changes in consumer behavior and economic challenges to achieve continuity of commerce.
As one of the premier technology-driven payment and transaction processors, Electronic Payments is quick to adapt to consumer demand and a changing business environment. With cutting-edge solutions that are accessible, affordable, and intuitive, the company has empowered thousands of merchants to transition to the latest contactless technologies and attain new revenue streams from curbside, online ordering, and delivery services.
Products such as TableTurn® and ProCharge® have become everyday essentials for restaurants in need of mobile, contactless payments to safely process transactions curbside or off-premise. Integrated caller ID systems and DeliverMe online ordering streamline phone and online orders for pickup and delivery, helping restaurants expedite food orders, increase order accuracy, and ensure customer satisfaction.
Exatouch® POS and internet-enabled payment devices bring relevant technology to all business sectors, including hospitality, retail, and service industries. Electronic Payments reports strong processing volumes for grocery markets, liquor stores, and other retail outlets—all using Exatouch and its integrated features such as real-time inventory tracking, employee and customer management, free gift card processing, and more.
“I haven’t seen a more challenging time in this industry. COVID-19 has forced a ten-year evolution of payment technologies in mere months. We’ve gone above and beyond in rolling out these technologies to help our clients—and our growth is confirmation of that,” commented Michael Nardy, Electronic Payments Founder and CEO. “Merchants are looking for easily adoptable and relevant technologies to streamline their operations, including making payment acceptance quicker, simpler, and more diversified. I’m proud we’ve been able to deliver for our partners in this difficult economic environment.”
Electronic Payments’ diverse merchant base is optimistic about an even larger economic recovery in 2021, which would mark the company’s 21st consecutive year of year-over-year growth. In support of their determined customer base, Electronic Payments continues to invest heavily in new products and services to be released in 2021.
To learn more about Electronic Payments and their various initiatives to help merchants address challenges brought on by COVID-19, visit https://electronicpayments.com/coronavirus/.
- Electronic Payments
- Amber Josi
- Director of Marketing
- (800) 966-5520, ext. 0286
About About Electronic Payments
Continuously innovating with new technologies, Electronic Payments has distinguished itself as one of the most highly regarded payment and transaction processing companies in the United States. Electronic Payments currently serves businesses in all types of industries and acquires new merchants through a network of POS value-added resellers (VARS), agent banks, sales agents, and independent sales offices (ISOs). Visit www.electronicpayments.com for more information.