First American Payment Systems, Inc., one of the fastest growing non-bank merchant credit card processing acquirers, Monday announced that the total number of transactions processed increased 53% to 8.1 million in 1999 from 5.3 million in 1998.
The sum of the transactions processed in 1999 equaled $575.8 million, an increase of 33% over the 1998 volume of $433 million.
“First American’s record 1999 performance is attributable to the continued concentrated focus of all our associates on delivering dependable, predictable transaction processing services to small- and medium-sized merchants,” said Neil L. Randel, president and chief executive officer. “First American Payment Systems is uniquely poised within the industry to continue to experience unprecedented growth.”
About First American
First American Payment Systems, Inc., a privately owned corporation founded in 1990, provides full-service electronic credit card authorization and payment systems to retail, mail order, telephone order, Internet and home-based merchants throughout the United States. First American’s other divisions include national ATM deployment, Secur-Chex(TM) check guarantee, FirstPay.Net e-commerce payment gateway and Merimac Capital point of sale equipment and ATM leasing. For more information on First American Payment Systems, visit the company’s Web site at [www.first-american.net].