Pivotal Payments Announces First Quarter Performance
One of North America's fastest growing payment processors surpasses projections
MONTREAL, April 26, 2012 - Pivotal Payments is pleased to announce a summary of its performance for the first quarter of 2012. In a period marked by decreases in North American consumer spending, retail growth and increased competition, the company continued to exceed its targets and further cement its role as one of North America's fastest growing payment processors. The company surpassed projections for key indicators including US and Canadian processing volume, active merchants, and EBITDA compared to the same period in 2011.
"Our focus on performance and improvements across our breadth of services resulted in exceptional performance last quarter. We've got an impressive pipeline of products and services that positions us well for future organic growth," said Philip Fayer, President and CEO at Pivotal Payments.
"We anticipate a very strong year thanks to our clients and dedicated employees, as well as valuable partners, for whom we've created our 'I AM PIVOTAL' campaign, an initiative that emphasizes the significance of each and every person who works with the organization."
The company's recognition of its partners, clients and employees being critical to its achievements is embodied in the "I AM PIVOTAL" campaign and reflects the company's values and core beliefs such as dependability, innovation, responsiveness and a united drive to be successful.
"It is an expression of support, motivation and commitment to our company," said Frank LoSchiavo, Senior Vice-President, Sales and Marketing. "At Pivotal, we all have a strong desire to succeed and each and every person is key to that success."
2012 FIRST QUARTER HIGHLIGHTS (VERSUS Q1 2011):
- Canadian volume +28.6%
- US volume +16.1%
- Active merchants +16.5%
- EBITDA +34%
Pivotal Payments continues its goal of associating with providers who can add value to its overall service offering. The company recently announced a partnership with NetSecure Payments to develop a mobile payment application for smartphones and tablets. In January, the company signed a payment services agreement with TSYS, the world's largest processor of merchant acquirers and bank credit card issuers.
About Pivotal Payments
Pivotal Payments is a leading provider and processor of merchant services throughout North America. It provides to both online and point of sale merchants a variety of services such as credit and debit card processing, electronic check conversion, merchant cash advance programs, loyalty/gift card programs and terminal management solutions. The company provides these services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants and dealerships. With offices across North America, Pivotal Payments has grown to over 350 employees and over 1,500 sales partners and serves more than 60,000 customers. The company processes over US$10 billion in annual transaction processing volume.
Company and product information are available at http://www.pivotalpayments.com
For further information:
Louis Georgakakis, Marketing Manager