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added to S&P MidCap 400 effective 20-Nov-2024; updated infobox
 
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{{Short description|American payment processing company}}
{{Short description|American payment processing company}}
{{Infobox company
{{Infobox company
| name = Shift4, Inc.
| name = Shift4 Payments, Inc.
| logo = Shift4 Logo 2021.png
| logo = Shift4 Logo 2021.png
| type = [[Public company]]
| type = [[Public company|Public]]
| traded_as = {{ubl|class=nowrap|{{NYSE|FOUR}} (Class A)|[[Russell 1000]] component}}
| traded_as = {{ubl|class=nowrap|{{NYSE|FOUR}} (Class A)|[[S&P 400]] component}}
| industry = [[Payment processor|Payment processing]]
| industry = [[Financial services]]
| founded = {{Start date and age|1999}} (as United Bank Card)
| founded = {{Start date and age|1999}} (as United Bank Card)
| founders = [[Jared Isaacman]]
| founder = [[Jared Isaacman]]
| location_city = {{nowrap|[[Allentown, Pennsylvania]], U.S.}}
| hq_location = {{nowrap|[[Center Valley, Pennsylvania]], U.S.}}
| area_served = {{ubl|Canada|United States}}
| area_served = {{Flatlist|
* Canada
⚫
| key_people = Jared Isaacman
* Europe
⚫
| revenue = {{increase}} {{US$|731.4 million|link=yes}} (2019)
* United Kingdom
⚫
| operating_income = {{increase}} US$37.6 million (2019)
* United States
⚫
| net_income = {{increase}} US$58.1 million (2019)
}}
⚫
| assets = {{increase}} US$788 million (2019)
⚫
| key_people = {{Plainlist|
⚫
| equity = {{increase}} US$14.1 million (2019)
* [[Jared Isaacman]] ([[CEO]])
| num_employees = 1,753<ref>https://www.owler.com/company/shift4</ref>
* Taylor Lauber ([[President (corporate title)|President]])
| owner =
}}
| subsid =
⚫
| revenue = {{increase}} {{US$|2,564.8 million|link=yes}}
| revenue_year = 2023
⚫
| operating_income = {{increase}} {{US$|114.8 million}}
| income_year = 2023
⚫
| net_income = {{increase}} {{US$|86.2 million}}
| net_income_year = 2023
⚫
| assets = {{increase}} {{US$|3,387.8 million}}
| assets_year = 2023
⚫
| equity = {{increase}} {{US$|868.4 million}}
| equity_year = 2023
| num_employees = 3,030
| num_employees_year = 2023
| website = {{URL|Shift4.com}}
| website = {{URL|Shift4.com}}
| footnotes = Financials {{as of|2023|12|31|df=US|lc=y}}.<br />References:<ref name="10K_2023">{{cite web |title=Annual report Form 10-K 2023 Tesla Inc. |url=https://investors.shift4.com/sec-filings/all-sec-filings/content/0001794669-24-000007/0001794669-24-000007.pdf |date=January 29, 2024 |access-date=June 10, 2024 }}</ref>
| footnotes =
}}
}}


'''Shift4''' is an American payment processing company publicly listed on the [[New York Stock Exchange]] and based in [[Allentown, Pennsylvania]].<ref name=Barrons>{{cite news |last1=Beltran |first1=Luisa |title=Shift4 Payments Is the Latest IPO to Soar Despite Pandemic |url=https://www.barrons.com/articles/shift4-payments-ipo-pandemic-51591380816 |accessdate=3 July 2020 |work=Barron's |date=5 June 2020}}</ref><ref name = bloomberg>{{cite news |last1=Tse |first1=Crystal |last2=Fioretti |first2=Julia |title=Triple U.S. Trading Debut Caps 2020's Best Week for Listings |url=https://www.bloomberg.com/news/articles/2020-06-04/shift4-dada-legend-ipos-set-to-raise-about-1-billion-combined |accessdate=3 July 2020 |publisher=Bloomberg |date=4 June 2020}}</ref> The company, founded in 1999 by the then 16-year-old [[Jared Isaacman]], processes payments for over 200,000 businesses in the retail, hospitality, leisure and restaurant industries.<ref name=Barrons/><ref name=marketwatch>{{cite news |last1=Bary |first1=Emily |title=Shift4 Payments stock surges after IPO in vote of confidence for economic recovery |url=https://www.marketwatch.com/story/shift4-payments-stock-surges-after-ipo-in-vote-of-confidence-for-economic-recovery-2020-06-05 |accessdate=3 July 2020 |publisher=MarketWatch |date=5 June 2020}}</ref> Shift4 specializes in commerce solutions such as mobile payment software and hardware.<ref name=fastcompany>{{cite news |last1=Segran |first1=Elizabeth |title=Meet The Fighter-Jet-Flying 32-Year-Old On Top Of The Payments Industry |url=https://www.fastcompany.com/3044942/meet-the-fighter-jet-flying-32-year-old-on-top-of-the-payments-industry |accessdate=3 July 2020 |publisher=Fast Company |date=13 April 2015}}</ref><ref name=yahoo>{{cite web |title=Shift4Payments, Inc |url=https://finance.yahoo.com/quote/FOUR/profile?p=FOUR |publisher=Yahoo! Finance |accessdate=3 July 2020}}</ref> When the company went public in 2020, Isaacman was still the CEO.<ref name=businessinsider>{{cite news |last1=Balogh |first1=Shannon |title=Shift4 Payments just surged 46% in its public-market debut. Its CEO walked us through the 300-meeting virtual road show it took to launch the IPO. |url=https://www.businessinsider.com/shift4-payments-ipo-nyse-raises-345-million-virtual-2020-6 |accessdate=9 July 2020 |work=Business Insider |date=6 June 2020}}</ref>
'''Shift4 Payments, Inc.''' is an American [[Payment processor|payment processing]] company based in [[Allentown, Pennsylvania]].<ref name="Barrons">{{cite news |last1=Beltran |first1=Luisa |title=Shift4 Payments Is the Latest IPO to Soar Despite Pandemic |url=https://www.barrons.com/articles/shift4-payments-ipo-pandemic-51591380816 |accessdate=3 July 2020 |work=Barron's |date=5 June 2020}}</ref><ref name="bloomberg">{{cite news |last1=Tse |first1=Crystal |last2=Fioretti |first2=Julia |title=Triple U.S. Trading Debut Caps 2020's Best Week for Listings |url=https://www.bloomberg.com/news/articles/2020-06-04/shift4-dada-legend-ipos-set-to-raise-about-1-billion-combined |accessdate=3 July 2020 |publisher=Bloomberg |date=4 June 2020}}</ref> The company, founded in 1999 by the then 16-year-old [[Jared Isaacman]], processes payments for over 200,000 businesses in the retail, hospitality, leisure and restaurant industries.<ref name="Barrons" /><ref name="marketwatch">{{cite news |last1=Bary |first1=Emily |title=Shift4 Payments stock surges after IPO in vote of confidence for economic recovery |url=https://www.marketwatch.com/story/shift4-payments-stock-surges-after-ipo-in-vote-of-confidence-for-economic-recovery-2020-06-05 |accessdate=3 July 2020 |publisher=MarketWatch |date=5 June 2020}}</ref> Shift4 specializes in commerce solutions such as mobile payment software and hardware.<ref name="fastcompany">{{cite news |last1=Segran |first1=Elizabeth |title=Meet The Fighter-Jet-Flying 32-Year-Old On Top Of The Payments Industry |url=https://www.fastcompany.com/3044942/meet-the-fighter-jet-flying-32-year-old-on-top-of-the-payments-industry |accessdate=3 July 2020 |publisher=Fast Company |date=13 April 2015}}</ref><ref name="yahoo">{{cite web |title=Shift4Payments, Inc |url=https://finance.yahoo.com/quote/FOUR/profile?p=FOUR |publisher=Yahoo! Finance |accessdate=3 July 2020}}</ref> The company was publicly listed on the [[New York Stock Exchange]] 2020.<ref name="businessinsider">{{cite news |last1=Balogh |first1=Shannon |title=Shift4 Payments just surged 46% in its public-market debut. Its CEO walked us through the 300-meeting virtual road show it took to launch the IPO. |url=https://www.businessinsider.com/shift4-payments-ipo-nyse-raises-345-million-virtual-2020-6 |accessdate=9 July 2020 |work=Business Insider |date=6 June 2020}}</ref>


==History==
==History==
Line 37: Line 49:
In 2017, the company - then operating as the Lighthouse Network - acquired payment gateway provider Shift4 Corporation and rebranded itself as Shift4 Payments.<ref name=spg/>
In 2017, the company - then operating as the Lighthouse Network - acquired payment gateway provider Shift4 Corporation and rebranded itself as Shift4 Payments.<ref name=spg/>


Shift4 went public on the NYSE in June 2020, raising $345 million through its IPO.<ref name=marketwatch/><ref name =bloomberg/> The company is one of the few companies to go public in the months after the start of the [[COVID-19 pandemic]]. The company completed its "[[roadshow]]" for investors entirely online.<ref name=businessinsider/> The company was the first to ring the bell at the New York Stock Exchange after the trading floor was reopened following its shutdown because of the pandemic.<ref name=marketwatch/>
Shift4 went public on the NYSE in June 2020, raising $345 million through its IPO.<ref name=marketwatch/><ref name =bloomberg/> The company is one of the few companies to go public in the months after the start of the [[COVID-19 pandemic]]. The company completed its "[[Financial roadshows|roadshow]]" for investors entirely online.<ref name=businessinsider/> The company was the first to ring the bell at the New York Stock Exchange after the trading floor was reopened following its shutdown because of the pandemic.<ref name=marketwatch/>


In November 2020, Shift4 announced the acquisition of [[3dcart (software)|3dcart]],<ref>{{Cite news|date=2020-11-05|title=Shift4 Payments Acquires 3dcart Ecommerce Platform|language=en-US|url=https://finance.yahoo.com/news/shift4-payments-acquires-3dcart-ecommerce-114500548.html}}</ref> an [[E-commerce]] platform. In January 2021, Shift4 rebranded this solution as Shift4Shop.<ref>{{Cite news|date=2021-01-27|title=Shift4 Payments Rebrands 3dcart, Launches eCommerce Platform Shift4Shop|language=en-US|url=https://www.pymnts.com/news/ecommerce/2021/shift4-payments-rebrands-3dcart-launches-platform-shift4shop/}}</ref>
In November 2020, Shift4 announced the acquisition of [[3dcart (software)|3dcart]],<ref>{{Cite news|date=2020-11-05|title=Shift4 Payments Acquires 3dcart Ecommerce Platform|language=en-US|url=https://finance.yahoo.com/news/shift4-payments-acquires-3dcart-ecommerce-114500548.html}}</ref> an [[E-commerce]] platform. In January 2021, Shift4 rebranded this solution as Shift4Shop.<ref>{{Cite news|date=2021-01-27|title=Shift4 Payments Rebrands 3dcart, Launches eCommerce Platform Shift4Shop|language=en-US|url=https://www.pymnts.com/news/ecommerce/2021/shift4-payments-rebrands-3dcart-launches-platform-shift4shop/}}</ref>
Line 47: Line 59:
The company's business model involves integrating payment processing services into various hardware and software products as well as the gathering of business intelligence.<ref>{{cite news |title=Shift4 Payments Announces Pricing of Public Offering of Class A Common Stock |url=https://finance.yahoo.com/news/shift4-payments-announces-pricing-public-022700867.html |accessdate=5 October 2020 |publisher=Yahoo Finance |date=10 September 2020}}</ref><ref>{{cite news |title=Payment Methods Shift4 Introduces Contactless QR Pay Tech |url=https://www.pymnts.com/news/payment-methods/2020/shift4-introduces-contactless-qr-pay-tech/ |accessdate=22 July 2020 |publisher=PYMNTS.com |date=24 June 2020}}</ref>
The company's business model involves integrating payment processing services into various hardware and software products as well as the gathering of business intelligence.<ref>{{cite news |title=Shift4 Payments Announces Pricing of Public Offering of Class A Common Stock |url=https://finance.yahoo.com/news/shift4-payments-announces-pricing-public-022700867.html |accessdate=5 October 2020 |publisher=Yahoo Finance |date=10 September 2020}}</ref><ref>{{cite news |title=Payment Methods Shift4 Introduces Contactless QR Pay Tech |url=https://www.pymnts.com/news/payment-methods/2020/shift4-introduces-contactless-qr-pay-tech/ |accessdate=22 July 2020 |publisher=PYMNTS.com |date=24 June 2020}}</ref>


It works primarily in the restaurant, hospitality, retail and e-commerce industries.<ref name=businessinsider/><ref>{{cite news |last1=Kudo |first1=Hikaru |title=Raiders Thinking Ahead with Shift4 Payments Partnership |url=https://www.si.com/nfl/raiders/news/las-vegas-raiders-shift4-payments-allegiant-stadium |accessdate=5 October 2020 |agency=Sports Illustrated |date=29 July 2020}}</ref> Shift4 also offers cloud-based reporting and analytic software.<ref name=yahoo/> In 2019, the company processed approximately 3.5 billion transactions.<ref>{{cite news |last1=Salamone |first1=Anthony |title=Lehigh Valley's Shift4 Payments files to go public with initial price offering |url=https://www.mcall.com/business/mc-biz-shift4-payments-initial-public-offering-20200605-krorkxegozbctfmtvcfr37yrde-story.html |accessdate=3 July 2020 |publisher=The Morning Call |date=2020-06-05}}</ref>
It works primarily in the restaurant, hospitality, retail and e-commerce industries.<ref name=businessinsider/><ref>{{cite news |last1=Kudo |first1=Hikaru |title=Raiders Thinking Ahead with Shift4 Payments Partnership |url=https://www.si.com/nfl/raiders/news/las-vegas-raiders-shift4-payments-allegiant-stadium |accessdate=5 October 2020 |agency=Sports Illustrated |date=29 July 2020}}</ref> Shift4 also offers cloud-based reporting and analytics software.<ref name=yahoo/> In 2019, the company processed approximately 3.5 billion transactions.<ref>{{cite news |last1=Salamone |first1=Anthony |title=Lehigh Valley's Shift4 Payments files to go public with initial price offering |url=https://www.mcall.com/business/mc-biz-shift4-payments-initial-public-offering-20200605-krorkxegozbctfmtvcfr37yrde-story.html |accessdate=3 July 2020 |publisher=The Morning Call |date=2020-06-05}}</ref>


==References==
==References==
{{reflist}}
{{reflist}}


==External links==
{{space tourists}}
*{{Official website|https://www.shift4.com}}
{{Finance links
| name = Shift4 Payments, Inc.
| symbol = FOUR
| sec_cik = 1794669
| yahoo = FOUR
| google = FOUR:NYSE
}}

{{S&P 400 companies}}
{{Payment service providers}}


[[Category:Software companies of the United States]]
[[Category:Software companies of the United States]]
[[Category:Payment service providers]]
[[Category:Payment service providers]]
[[Category:American companies established in 1999]]
[[Category:American companies established in 1999]]
[[Category:Companies based in Allentown, Pennsylvania]]
[[Category:Companies in the S&P 400]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Software companies established in 1999]]
[[Category:Financial software companies]]

Latest revision as of 00:40, 22 November 2024

Shift4 Payments, Inc.
Company typePublic
IndustryFinancial services
Founded1999; 25 years ago (1999) (as United Bank Card)
FounderJared Isaacman
HeadquartersCenter Valley, Pennsylvania, U.S.
Area served
  • Canada
  • Europe
  • United Kingdom
  • United States
Key people
RevenueIncrease US$2,564.8 million (2023)
Increase US$114.8 million (2023)
Increase US$86.2 million (2023)
Total assetsIncrease US$3,387.8 million (2023)
Total equityIncrease US$868.4 million (2023)
Number of employees
3,030 (2023)
Websiteshift4.com
Footnotes / references
Financials as of December 31, 2023.
References:[1]

Shift4 Payments, Inc. is an American payment processing company based in Allentown, Pennsylvania.[2][3] The company, founded in 1999 by the then 16-year-old Jared Isaacman, processes payments for over 200,000 businesses in the retail, hospitality, leisure and restaurant industries.[2][4] Shift4 specializes in commerce solutions such as mobile payment software and hardware.[5][6] The company was publicly listed on the New York Stock Exchange 2020.[7]

History

[edit]

While working as an employee of a payment processing company, the 16-year-old Isaacman (who had already earned his GED and gone to work full-time) identified what he saw as inefficiencies in the industry. In response, he launched United Bank Card in his parents' basement in Far Hills, New Jersey.[5][8] At the time, it generally took merchants about one month to set up a payment system and merchants had to pay for their credit card readers and sign a lengthy application. As an alternative, Isaacman's new company cut the set-up time to one day, gave merchants free credit card readers and only required merchants sign a two-page application.[5]

In 2012, United Bank Card rebranded as Harbortouch to better reflect its point-of-sale and payment technology.[5]

Between 2014 and 2017, the company expanded by acquiring multiple payment processing and point-of-sale companies, including Merchant Services Inc. (the same company Isaacman worked for as a teen).[5]

The company rebranded once again in 2017 as Lighthouse Network, with Harbortouch becoming a subsidiary.[9][10]

In 2017, the company - then operating as the Lighthouse Network - acquired payment gateway provider Shift4 Corporation and rebranded itself as Shift4 Payments.[10]

Shift4 went public on the NYSE in June 2020, raising $345 million through its IPO.[4][3] The company is one of the few companies to go public in the months after the start of the COVID-19 pandemic. The company completed its "roadshow" for investors entirely online.[7] The company was the first to ring the bell at the New York Stock Exchange after the trading floor was reopened following its shutdown because of the pandemic.[4]

In November 2020, Shift4 announced the acquisition of 3dcart,[11] an E-commerce platform. In January 2021, Shift4 rebranded this solution as Shift4Shop.[12]

In March 2021, the company announced the acquisition of VenueNext, a provider of point-of-sale and payment solutions for stadiums, arena, and other entertainment venues.[13] A year later, the company announced it acquired Finaro.[14]

Services

[edit]

The company's business model involves integrating payment processing services into various hardware and software products as well as the gathering of business intelligence.[15][16]

It works primarily in the restaurant, hospitality, retail and e-commerce industries.[7][17] Shift4 also offers cloud-based reporting and analytics software.[6] In 2019, the company processed approximately 3.5 billion transactions.[18]

References

[edit]
  1. ^ "Annual report Form 10-K 2023 Tesla Inc" (PDF). January 29, 2024. Retrieved June 10, 2024.
  2. ^ a b Beltran, Luisa (5 June 2020). "Shift4 Payments Is the Latest IPO to Soar Despite Pandemic". Barron's. Retrieved 3 July 2020.
  3. ^ a b Tse, Crystal; Fioretti, Julia (4 June 2020). "Triple U.S. Trading Debut Caps 2020's Best Week for Listings". Bloomberg. Retrieved 3 July 2020.
  4. ^ a b c Bary, Emily (5 June 2020). "Shift4 Payments stock surges after IPO in vote of confidence for economic recovery". MarketWatch. Retrieved 3 July 2020.
  5. ^ a b c d e Segran, Elizabeth (13 April 2015). "Meet The Fighter-Jet-Flying 32-Year-Old On Top Of The Payments Industry". Fast Company. Retrieved 3 July 2020.
  6. ^ a b "Shift4Payments, Inc". Yahoo! Finance. Retrieved 3 July 2020.
  7. ^ a b c Balogh, Shannon (6 June 2020). "Shift4 Payments just surged 46% in its public-market debut. Its CEO walked us through the 300-meeting virtual road show it took to launch the IPO". Business Insider. Retrieved 9 July 2020.
  8. ^ Nivedita, C; Manikandan, Abhishek; Hussain, Noor Zainab; Franklin, Joshua (5 June 2020). "Shift4, Legend Biotech surge in banner week for U.S. IPOs". Reuters. Retrieved 3 July 2020.
  9. ^ Salamone, Anthony (22 March 2018). "Lehigh Valley credit card processing company won't relocate headquarters". The Morning Call. Retrieved 17 July 2020.
  10. ^ a b Nariyanuri, Sampath Sharma (17 January 2018). "Lighthouse Network buys payment processing company Shift4". S&P Global Market Intelligence. Retrieved 6 July 2020.
  11. ^ "Shift4 Payments Acquires 3dcart Ecommerce Platform". 2020-11-05.
  12. ^ "Shift4 Payments Rebrands 3dcart, Launches eCommerce Platform Shift4Shop". 2021-01-27.
  13. ^ "Shift4's acquisition of VenueNext paves way for payments in sports, entertainment". 2021-03-10.
  14. ^ Spiro, James (29 March 2022). "Finaro outlines its future plans following acquisition by US-based Shift4". CTECH. Retrieved 10 April 2022.
  15. ^ "Shift4 Payments Announces Pricing of Public Offering of Class A Common Stock". Yahoo Finance. 10 September 2020. Retrieved 5 October 2020.
  16. ^ "Payment Methods Shift4 Introduces Contactless QR Pay Tech". PYMNTS.com. 24 June 2020. Retrieved 22 July 2020.
  17. ^ Kudo, Hikaru (29 July 2020). "Raiders Thinking Ahead with Shift4 Payments Partnership". Sports Illustrated. Retrieved 5 October 2020.
  18. ^ Salamone, Anthony (2020-06-05). "Lehigh Valley's Shift4 Payments files to go public with initial price offering". The Morning Call. Retrieved 3 July 2020.
[edit]
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