Leading Payment Processor VizyPay Reaches $1B Mark in Payments Processed in Three Years; Expects to Pass $2B in 2021
VizyPay, an award-winning leader in the payment processing industry, announces it has passed the $1B milestone in payments processed since its founding in 2017 and is projected to reach a collective $2B in processing in 2021.
The bootstrapped company has installed more than 7,000 merchants across the U.S. and has seen an 8,000 percent increase in revenue since its inception. VizyPay has seen exponential growth in three short years, now employing 35 full-time employees and over 600 independent contractors. In 2020, VizyPay also acquired long-time competitor Echo Daily, fueling the company’s rapid expansion.
The company’s success is due in-part to its unique Cash Discount Program (CDP), which has saved merchants more than $10.6M to-date. VizyPay is the only payment processing company to develop a program built specifically with small and medium-sized businesses in mind, empowering 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 percent 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 honored 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. The company spent 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.