NEW YORK (PRWEB) August 19, 2021
Inc. magazine today revealed that Universal Processing, the leading payment processing provider for minority-owned businesses, is number 3958 on its annual Inc. 5000 list – a prestigious ranking of America’s fastest-growing private companies.
Founded in 2003, Universal Processing specializes in helping underserved businesses accept all forms of payments, from credit card and debit cards to EBTs and online payments. Known for its integrity and dedicated 24/7 multilingual support, the company has grown to become the leading provider of payment processing services to minority-owned businesses in the U.S.
Universal Processing registered an impressive 79 percent three-year revenue growth, earning it a place on the coveted Inc. 5000 list. While the business continues to focus its efforts as a payment processing provider for the underserved, the company has cemented itself as an up-and-coming fintech company with the success of its customizable POS solution, uServe.
“This past year has challenged each one of us here at Universal Processing. Ours was an industry that was deeply affected by the pandemic,” Universal Processing Founder and CEO Saint Hung recalled. “Even so, we remain committed to our mission of serving our merchant partners. During our mask donation campaign, we sourced and personally delivered over 14,000 masks to under-supplied hospitals. While businesses were forced to closed, we helped with applications for emergency loans, aided in petitions for the reduction of rent, and provided free online ordering websites. This award affirms our commitment to our founding principles. Our success this year is shared with the merchant partners that have triumphed in the face of great adversity.”
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
The Inc. 5000 represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at http://www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Universal Processing
Universal Processing, LLC is a registered ISO of Wells Fargo Bank, N.A. Concord, CA and the Commercial Bank of California. The company is committed to empowering the underserved with powerful payment processing tools and exceptional 24/7 multilingual service and technical support. In 2020, Universal Processing launched uServe POS. The powerful and affordable point of sale solution allows restaurants to handle the most complicated splits and modifiers while allowing unprecedented control over the system’s interface and workflow. Universal Processing has five offices nationwide in Manhattan, NY; Flushing, NY; Arcadia, CA; Houston, TX; and Chicago, IL. The company serves over 13,000 businesses nationwide and manages over $2.0 billion in annual revenue.
For more information, visit https://www.uprocessing.com/
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multi-platform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 allows the founders of the best businesses to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc.
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