It's always exciting to see one of our partners growing.

Electronic Payments lands $5 million, expands facilities

Electronic Payments Inc. secured $5 million in growth funding from Super G Funding to ramp up its strategic initiatives. "Since November 2006, our processing volumes have increased organically to over $6 billion with nearly 117 million transactions processed last year," said Michael Nardy, Chief Executive Officer of Electronic Payments. He noted that the company boards more than 750 new merchants monthly, and access to capital will help ensure the continued delivery of cutting-edge technology.

"Mike’s operation was one of the few of his size that was debt free, profitable and has well below average merchant attrition," said Darrin Ginsberg, CEO of Super G. "We were able to put together a great program for EPI that will be their backstop for any time-is-of-the-essence transactions such as buyouts, acquisitions, and will be there to fund their fast growth trajectory."

In another development, Electronic Payments reported that the success of its Clover Placement Program and other POS ventures necessitated its expansion into a facility dedicated only to deployment. Located across the street from the regional FedEx hub, the new facility in Calverton, N.Y., boasts 4,600 square feet, increasing by four times the amount of space Electronic Payments is able to use for deployment and provisioning for its POS and terminal programs.

from Greensheets