Pivotal Payments Reports Strong Results for Fiscal Year 2012
Innovations and regional sales programs have sustained growth across Canadian and U.S. markets, delivering on the company's long-term business strategy
MONTREAL, March 7, 2013 - Pivotal Payments, a leading provider of merchant services and payment processing solutions throughout North America, is proud to announce yet another year of notable improvements in the company's key financial indicators, specifically overall revenue and earnings before interest, taxes, depreciation and amortization (EBITDA). The company's innovation strategy and sales development initiatives have yielded sustained growth in Canadian and U.S. markets for 2012.
"Pivotal Payments remains committed to providing valued processing solutions in order to create a meaningful contribution to our clients, partners, employees, suppliers and shareholders," said Philip Fayer, President and CEO of Pivotal Payments. "We are poised for growth in 2013 by actively pursuing unique and innovative products such as mobile payment solutions, multi-currency processing and increasingly integrated payment terminals."
Fiscal 2012 highlights:
- Revenue increased by 34%
- EBIDTA increased (after adjustments) by 42%
Pivotal Payments continued executing its long-term business strategy, including providing cost-effective merchant services to small and mid-sized businesses, expanding its sales channels, bolstering its direct and value added sales programs and focusing on strategic markets. Such positive results can also be attributed to successful cost management, intensive supplier negotiations and improvement in internal efficiencies. The result was an increase of scale which lowered overall internal payment processing expenses, in turn enabling investment back into research and development to provide continued innovation and solutions for clients.
The company will continue to invest in the growth of its sales channels which include banks, credit unions and independent sales organizations, while also building its network of Integrated Software Vendors (ISVs). Pivotal Payments will be expanding its direct regional sales programs and providing a local presence in key North American cities, beginning in the second quarter of 2013.
As the use of credit cards and alternate payment methods continues to grow in all sectors, businesses and organizations will continue to see increased benefits of using the services of an independent merchant account provider.
Fraud prevention month
March is Fraud Prevention Month in Canada and Pivotal Payments is participating in the conversation in order to raise awareness in the payment processing industry. Since fraud can affect individuals and businesses alike, the best way to avoid falling for a scam is to know how to identify it, know how and where to report it and finally work together to bring it to an end.
Visit Pivotal Payments' Facebook page for tips and advice on how merchants can reduce their chances of being a victim of fraud and how they can help better protect their customers. http://www.facebook.com/pivotalpayments
About Pivotal Payments
Innovative, reliable and affordable, Pivotal Payments is a leading provider and processor of merchant services throughout North America. Pivotal Payments provides to both online and point of sale merchants a variety of services such as debit and credit 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. Processing over US $10 billion in annual transactions, Pivotal Payments serves more than 60,000 customers.
To learn more, visit http://www.pivotalpayments.com
For further information:
1 877 441-4729 x8001