VizyPay, an payment processing company, has announced it has passed the $1 billion milestone in payments processed since its founding in 2017 and is projected to reach a collective $2 billion in processing in 2021.
The company has installed more than 7,000 merchants across the US and has seen an 8,000% increase in revenue since its inception. VizyPay has seen exponential growth in three years, now employing 35 full-time employees and over 600 independent contractors, as well as acquiring its competitor Echo Daily in 2020 In 2020.
The company attributes its success in part to its unique Cash Discount Program (CDP), which has saved merchants more than $10.6 million to-date. VizyPay is the only payment processing company to develop a program built specifically with small and medium-sized businesses in mind, allowing them to take control of their credit card processing and eliminate costly transaction fees and unpredictable processing bills. The Cash Discount Program locks a business owner into a low, flat monthly fee that allows for unlimited credit card transactions and offsets up to 100% of total processing fees, so their price never goes up and they are never hit with an unexpected processing bill.
“We founded VizyPay because we understood first-hand the pain points of payment processing and we were tired of seeing small business owners being taken advantage of,” said CEO and co-founder Austin Mac Nab. “We’ve built our company around transparency and the highest level of customer service, striving to build programs that help small business owners succeed and our independent contractors thrive. We are honoured to have reached this major milestone for our company in such a short time and proud to be one of the fastest-growing payment processing companies in the industry today.”
VizyPay has been aggressive in its hiring and training practices, spending half a million dollars to build a proprietary Customer Relationship Management (CRM) tool that allows it to hire, train, deploy and manage a nationwide salesforce of independent contractors. This has allowed VizyPay to rapidly grow its customer base across the country and has even turned some independent contractors into self-made millionaires.
“We owe our success to the hard work of our in-house and contracted team members and the loyalty of our thousands of merchants across the country,” says Frank Pagano, co-founder and Executive Sales Director of VizyPay. “As we look ahead to next year, we will continue to propel our rapid growth by implementing new products and services that benefit our clients and continue expanding our workforce both on the ground at our new office space in Des Moines as well as across the country with our rapidly expanding 1099 team members to reach our next milestone of $2 billion in payments processed.”