NEW YORK (PRWEB) August 14, 2019
Inc. magazine today revealed that Universal Processing is No. 500 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy's most dynamic segment-its independent small businesses. Microsoft, Dell, Domino's Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
"Universal Processing is not the 'overnight success' that one hears about of contemporary unicorns and gangbusters startups, but a lesson in determination, focus and perseverance over a dozen years," remarks Universal Processing's founder and Chief Executive Officer, Saint Hung. "Our organization tells a story of learning what to do right through earlier mistakes. We have cultivated the right leaders, cooperated with the right partners, and solidified our presence within the market in which we have experienced growth and scale over these last three years. We expand upon our values of providing incomparable service to the small and medium sized minority business owners and provide careers with unlimited potential to professionals of all races, ethnicities, beliefs and lifestyles." Hung spent many years in sales and management roles in industry-renowned payment processors including Elavon, Fifth Third Bank, First Data, WorldPay and Chase Paymentech before taking his corporate knowledge and disrupting the small to medium business market.
Not only have the companies on the 2019 Inc. 5000 (which are listed online at Inc.com, with the top 500 companies featured in the September issue of Inc., available on newsstands August 20) been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists. The 2019 Inc. 5000 achieved an astounding three-year average growth of 454 percent, and a median rate of 157 percent. The Inc. 5000's aggregate revenue was $237.7 billion in 2018, accounting for 1,216,308 jobs over the past three years. Universal Processing's stunning 869.8% three-year revenue growth earned it an enviable ranking of No. 500 on the list, placing the flourishing fintech company well into the top 0.1% of all private companies in the United States.
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 companies on this year's Inc. 5000 have followed so many different paths to success," says Inc. editor in chief James Ledbetter. "There's no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities." This is certainly the case for Universal Processing. Since its establishment, the company has served each business owner by providing the most knowledgeable and capable support personnel and speaking in the language that each business owner is most comfortable. In lieu of aggressive fee structures, exorbitant hardware prices, and oppressive contracts that are the industry standard, Universal provides wholesale pricing, free hardware, and encourages business owners to come and go as they please without penalty.
The annual Inc. 5000 event honoring the companies on the list will be held October 10 to 12, 2019, at the JW Marriott Desert Ridge Resort and Spa in Phoenix, Arizona. As always, speakers include some of the greatest innovators and business leaders of our generation.
About Universal Processing, LLC.
Universal Processing, LLC., is an ISO/MSP (Independent Sales Organization/ Merchant Service Provider) of First Data, registered through Wells Fargo Bank, N.A. They are a leading provider of technology-enabled payment processing for merchants and suppliers of all sizes in the United States with POS, online, and mobile interfaces, as well as ERP and CRP software integrations. Universal Processing has 4 offices nationwide in Manhattan, NY, Flushing, NY, Arcadia, CA, and Houston, TX., currently serving over 12,500 merchants and manages over $1.5 billion in annual revenue. For more information, visit https://www.uprocessing.com/