Clayton, MO – January 29, 2014 – Today Clearent announced its 2013 financial results, which highlight the fact that it continues to be one of the fastest growing credit card processing companies in the payments business. Clearent processed $4.4 billion in transaction volume last year, marking a 61% increase over 2012. The company now serves approximately 20,000 businesses.
This rapid growth was driven by the many unique benefits that Clearent offers its sales partners and merchants, ranging from best-in-class technology to superior customer service. For example, Clearent’s next day funding service is one of its major differentiators made possible by the company’s proprietary back-end processing system. Because Clearent connects directly to Visa, MasterCard, and Discover, sales partners and merchants are able to avoid the middleman and go straight to the source for all of their processing needs. It also means that merchants can batch out their terminal or point-of-sale system by as late as 11:00 p.m. Eastern, which is one of the latest cut-off times in the industry.
Another factor that makes Clearent so appealing to new sales partners and merchants is its Compass online reporting system, which provides 24/7 access to graphical account information through a system that is easy to learn and use. For ISOs and agents this means they now have access to a tool that helps them boost profitability and reduce attrition. And for merchants it means that they are now able to clearly see and understand their payment processing costs.
Merchant sales professionals and independent sales organizations (ISOs) continue to choose Clearent as their payment processing partner to obtain these unique benefits. In 2013, the company signed a record number of new ISOs and hired a record number of account executives. The company expects this sales momentum to continue to drive organic growth in 2014.
In addition to industry-leading technology, Clearent offers its merchants and sales partners a level of personalized support that is not easily found among other credit card processing companies. Merchants get round the clock account and terminal support and Clearent’s sales partners have access to a team of Relationship Managers that is committed to helping them grow their business. This increased level of support has resulted in more loyal ISO sales partners who are submitting more applications.
“I’m extremely proud of what Clearent and its sales partners have accomplished this year,” said Dan Geraty, CEO of Clearent. “Their collective hard work and determination has helped us grow much faster than the industry, and they have set us up for continued success in 2014. I look forward to seeing what this year holds in store for Clearent, its sales partners, and its merchants.”
Clearent is a credit card processing company that was built to be different. We combine leading edge technology with a passion for service to help our customers maximize the value of their merchant services program. Clearent provides sales agents, financial institutions, and merchants with benefits not available from other providers, such as next day funding with a late cut-off time and unrivaled graphical, web-based reporting, and now processes $5 billion in annualized card volume. To learn more, visit http://www.clearent.com or call 866.205.4721.