Shift4 Payments Surpasses $1 Billion in Weekly End-to-End Processing Volume

Rhea-AI Summary

Shift4 Payments (NYSE: FOUR) achieved a historic milestone by surpassing $1 billion in weekly end-to-end payment processing volume for the first time. CEO Jared Isaacman highlighted that this represents a compound annual growth rate of over 26% since 2004. The company, which has successfully adapted during economic cycles, plans to transition its Shift4Cares initiative into a comprehensive corporate social responsibility program. This development comes as most of Shift4's merchant base recovers from the pandemic.

Positive

• Achieved over $1 billion in weekly payment processing volume, a historic first.
• Demonstrated a compound annual growth rate of over 26% since 2004.
• Successful adaptation and customer acquisition through economic fluctuations.

Negative

• None.

Shift4 Payments (NYSE: FOUR), the leader in integrated payment processing solutions, announced that it has surpassed $1 billion in weekly end-to-end payment processing volume for the first time in the company’s history.

Shift4 CEO Jared Isaacman states, “This is an exciting milestone for Shift4, especially as we celebrate the one-year anniversary of our IPO. Our first billion-dollar year was 2004, which we thought was a pretty big deal at the time. To achieve $1 billion of end-to-end volume in a week represents a compound annual growth rate of over 26% for the last 17 years. It is a testament to the resiliency of Shift4’s value proposition, which has enabled us continue adding new customers throughout economic cycles: in both the best and most challenging of times.”

Early in the pandemic, Shift4 launched Shift4Cares.com to raise funds for merchants and to provide transaction data for news outlets, businesses, and government agencies to assess the ongoing economic impact of the COVID-19 pandemic. The company has also published regular press releases sharing insights into these volume trends.

With most segments of Shift4’s merchant base now experiencing recovery from the pandemic, the company has begun to transition the Shift4Cares initiative from a data resource and gift card program into a full-fledged corporate social responsibility (CSR) program and merchant support resource. Shift4 will continue providing periodic updates on this program, but will discontinue daily and monthly updates as of the end of Q2 2021.

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/20210622005452/en/

FAQ

What significant milestone did Shift4 Payments achieve recently?

Shift4 Payments surpassed $1 billion in weekly end-to-end payment processing volume for the first time.

How has Shift4 Payments' growth rate changed since 2004?

Shift4 Payments has achieved a compound annual growth rate of over 26% since 2004.

What is the Shift4Cares initiative?

Shift4Cares was launched to support merchants during the pandemic and will transition into a full corporate social responsibility program.

Who is the CEO of Shift4 Payments?

The CEO of Shift4 Payments is Jared Isaacman.

When did Shift4 Payments celebrate its IPO anniversary?

Shift4 Payments celebrated the one-year anniversary of its IPO recently.