FRISCO, TX--(Marketwire - August 30, 2010) - Century Payments, Inc., an emerging leader in the electronic payments industry, announced today that Inc. Magazine named the company the eleventh fastest growing private company in the nation on its 28th annual Inc. 500. The list represents a comprehensive look at the most important segment of the economy -- America's independent-minded entrepreneurs.
"We are thrilled and humbled to be included in such good company on this prestigious ranking. To be number 11 in our first year of eligibility is exciting," said Robert Wechsler, CEO of Century Payments. "Our explosive growth is a testament to our talented employees as well as our one-of-a-kind core strategy. We are the only company in our industry that develops, builds and manages sales forces for companies looking to expand their offerings and services to electronic payments. Many companies provide referral partnerships, but our unique model delivers much more, enabling partners to go far beyond traditional referral models and generate much higher adoption rates and profits while strengthening their brands and customer relationships."
Century Payments also delivers the industry's only nationwide cause-based payments distribution network of professionals. Through the Every Swipe Counts™ brand, and in partnership with Susan G. Komen for the Cure, Century Payments enables its employees, customers, partners and consumers to give back to the community and contribute to an outstanding cause without having to reach into their pockets in these difficult economic times. Century Payments donates 5% of net revenue and $25 for each new customer, with a minimum annual donation of $150,000.
Century Payments, which now includes more than 200 full-time employees in nearly all 50 states, was founded by Wechsler and long time friend and business partner Eric Frazier in 2006. In 2009 the company entered a partnership with Austin Ventures, one of the nation's leading venture and growth capital firms.
"Deciding to partner with Robert Wechsler was a very straightforward decision for us," said Michael Rovner, partner at Austin Ventures. "Robert is an accomplished executive with an impeccable track record of success in the payments industry and Century Payments' inclusion on the Inc. 500 is a testament to his outstanding leadership and vision."
Century Payments is not the first successful venture for Wechsler who grew up in Rochester, New York. In the 1990's he co-founded Link2Gov Corporation, an innovator in electronic payments for local and state governments. After Link2Gov, Wechsler served as a key executive in the successful Initial Public Offering of Convergent Group in 2000, as well as its subsequent all-cash sale to Schlumberger. In the five years prior to co-founding Century Payments in 2006, Wechsler served as executive vice president and head of Global Sales and Services at Chase Paymentech, leading one of the largest sales and service organizations in the history of electronic payments.
Century Payments' success hasn't escaped national media, including Inc. Magazine. "Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Inc. 500 Methodology
The companies on the 2010 Inc. 500, unveiled in the September issue of Inc. magazine (available on newsstands August 24 to November 16 and on Inc.com), employ more than 45,000 people. The list is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2009.
About Century Payments
Century Payments, Inc. ("Century") provides payment processing solutions to small and medium-sized merchants in the United States. Century also provides consulting services and growth capital to merchant service providers and Independent Sales Organizations (ISOs) in the payments industry. The company is based in Dallas, Texas. Visit www.centurypayments.com for more information.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
Contact Information:
Media Contact:
Carrie Crabill
Direct: 404-214-0722 ext 102