Shift4 Payments: One Year Later, Data Shows Accelerating Recovery as Transaction Volume Grows

Rhea-AI Summary

Shift4 Payments (NYSE: FOUR) celebrated the first anniversary of Shift4Cares.com, a platform aiding U.S. merchants amid COVID-19 challenges. Transaction volume data showed a 215% recovery in March 2021 from pandemic lows, with March end-to-end payment volume reaching $3.3B, a 40% increase from February and 82% year-over-year. Spring break travel contributed to recovery, particularly in Florida and Las Vegas, despite hotel transactions being 20% below pre-pandemic levels. CEO Jared Isaacman expressed optimism for further recovery as vaccinations rise.

Positive

• March 2021 end-to-end payment volume reached $3.3B, up 40% from February 2021 and 82% year-over-year.
• Transaction volume showed a 215% increase from the April 2020 low.
• Significant recovery in hospitality sector with early signs of optimism as vaccinations increase.

Negative

• Hotel transaction volume remains approximately 20% below pre-pandemic levels.

Shift4 Payments (NYSE: FOUR), the leader in integrated payment processing solutions, recently marked the one-year anniversary of its launch of Shift4Cares.com, a website that the company created to raise funds and increase awareness for U.S. merchants facing the economic brunt of the COVID-19 pandemic. Since its launch, the site has served as a resource for news outlets, businesses, and government agencies, providing valuable transaction volume data to assess the ongoing economic impact of the COVID-19 pandemic.

As the data on Shift4Cares.com has revealed, merchants in the hospitality sector experienced a severe decline one year ago at the pandemic’s start, with restaurant and hotel transactions plummeting nearly 75% during March of 2020. The data has shown transaction volume recovered somewhat steadily from May through October of 2020 but experienced declines throughout the holiday months of November and December 2020 as cases spread and increased restrictions were put in place. Since January 2021 there has been an accelerated recovery in transaction volumes with March 2021 representing a 215% increase from the pandemic “trough” level in April 2020.

This recent surge in transactions, along with many new merchants joining the platform, drove a record-breaking month and quarter for Shift4 in terms of end-to-end payment volume. March end-to-end volume was $3.3B in 2021, up 40% from February 2021 and 82% from the prior year. This is especially notable when considering that many states are still operating with significant capacity restrictions in place for businesses.

In looking at regional details, it is clear that spring break travel is playing a significant role in transaction recovery. Five of the top ten cities for transaction volumes in March were in Florida, and Las Vegas entered the top ten for the first time since the pandemic started. Hotel transaction volume was the fastest growing industry category, although hotel transaction volume remains ~20% below pre-pandemic levels.

“We are very pleased to see the early signs of a recovery within the merchants we serve,” said Jared Isaacman, CEO of Shift4 Payments. “While there remains much progress to be made, there is also genuine reason for optimism. As the hospitality sector continues to improve and as vaccinations become even more readily available, we look forward to the spring and summer months when Shift4’s contactless ordering and payment solutions can also help drive our return to stadiums and concert venues. Whether it’s a restaurant kitchen that is bustling with life again or a concession stand that is gearing up for the return of fans, these demanding commerce environments can continue to benefit from Shift4’s technologies.”

About Shift4 Payments

Shift4 Payments (NYSE: FOUR) is a leading provider of integrated payment processing and technology solutions, delivering a complete omnichannel ecosystem that extends beyond payments to include a wide range of commerce-enabling services. The company’s technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, eCommerce, lodging, gaming, and many more. With over 7,000 sales partners, the company securely processed more than $200 billion in payments volume for over 200,000 businesses in 2019. For more information, visit shift4.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005487/en/

FAQ

What is Shift4 Payments' stock symbol?

The stock symbol for Shift4 Payments is FOUR.

When was Shift4Cares.com launched?

Shift4Cares.com was launched one year ago, marking its anniversary in early April 2021.

What was Shift4 Payments' transaction volume in March 2021?

In March 2021, Shift4 Payments reported an end-to-end transaction volume of $3.3 billion.

How much did Shift4 Payments' transaction volume increase compared to February 2021?

Shift4 Payments' transaction volume increased by 40% compared to February 2021.

What regions contributed to Shift4 Payments' transaction recovery?

Florida and Las Vegas were key regions contributing to the recovery in transaction volumes.