Clearent Breaks Numerous Company Growth Records

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Clearent's rapid growth positions it as one of the fastest growing credit card processing companies in the United States.

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I’m extremely proud that our team has been able to grow at such a rapid pace, and that we have been able to sustain that growth. That is something that does not come easy in our industry.

Today Clearent announced its second quarter financial results for 2013. The company has set many growth records, proving that it is one of the fastest growing credit card processing companies in the country. Clearent also continues to hire in key areas to make sure that the company is well positioned for future growth.

In June, Clearent set another volume record by processing $375 million in transaction volume. This propels the company’s annual run rate to $4.5 billion and represents a 56% increase over June 2012.

The number of small business owners turning to Clearent for merchant credit card processing services has also grown at a record-setting pace. Clearent received nearly 2,700 new merchant applications marking an 80% increase over the same time period in 2012.

A growing number of ISOs and agents are realizing the unique benefits that the company provides. Clearent added more than 50 new ISO partners during the first half of the year thanks to products like next day funding, Reward4Schools, and Compass, Clearent’s suite online reporting tools that provides extremely flexible pricing and actionable data.

Clearent’s Direct Sales team also continues to grow rapidly. By focusing on adding sales executives in key markets across the U.S., the team now features 60 full time employees. Merchant sales professionals continue to rave about the support they receive from Clearent, including fast merchant approvals, extensive sales training and high touch support.

To support its rapidly growing base of customers, Clearent continues to build out its team in all areas. Clearent recently hired a new Chief Technology Officer and is expanding its Development and IT teams. Several other departments have also experienced noteworthy growth, including ISO Relationship Management, Sales Training, Underwriting and Customer Support.

"I’m extremely proud that our team has been able to grow at such a rapid pace, and that we have been able to sustain that growth. That is something that does not come easy in our industry," said Dan Geraty, CEO of Clearent. "This is why we are investing significant resources to enhance our technology-driven products and maintain our world-class service."

About Clearent

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 $4.5 billion in annual card volume. To learn more, visit http://www.clearent.com or call 866.205.4721.

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Shannon Kohler
Clearent
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