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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=5 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>


==References==
==References==

Revision as of 17:50, 19 April 2021

Shift4 Payments
Company typePublic
NYSE: FOUR
IndustryPayment processing
Founded1999; 25 years ago (1999) (as United Bank Card)
FoundersJared Isaacman
Headquarters
Allentown, Pennsylvania
,
U.S.
Area served
United States, Canada
Key people
Jared Isaacman
RevenueIncrease US$ 731.4 million (2019)
Increase US$ 37.6 million (2019)
Increase US$ 58.1 million (2019)
Total assetsIncrease US$ 788 million (2019)
Total equityIncrease US$ 14.1 million (2019)
Websiteshift4.com

Shift4 Payments is a payment processing company publicly listed on the New York Stock Exchange and based in Allentown, Pennsylvania.[1][2] 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.[1][3] Shift4 specializes in commerce solutions such as mobile payment software and hardware.[4][5] When the company went public in 2020, Isaacman was still the CEO.[6]

History

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.[4][7] 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.[4] In 2012, United Bank Card rebranded as Harbortouch to better reflect its point-of-sale and payment technology.[4] The company rebranded once again in 2017 as Lighthouse Network, with Harbortouch becoming a subsidiary.[8][9] 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).[4] In 2017, the company - then operating as the Lighthouse Network - acquired payment gateway provider Shift4 Corporation and rebranded itself as Shift4 Payments.[9]

Shift4 Payments went public on the NYSE in June 2020, raising $345 million through its IPO.[3][2] The company is one of the few companies to go public in the months immediately after the COVID-19 pandemic. The company completed its ‘’roadshow” for investors entirely online.[6] 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.[3]

In November 2020, Shift4 Payments announced the acquisition of 3dcart,[10] an E-commerce platform. In January 2021, Shift4 rebranded this solution as Shift4Shop.[11]

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.[12]

Services

The company’s business model involves integrating payment processing services into various hardware and software products as well as the gathering of business intelligence.[13][14]

It works primarily in the restaurant, hospitality, retail and e-commerce industries.[6][15] Shift4 also offers cloud-based reporting and analytic software.[5] In 2019, the company processed approximately 3.5 billion transactions.[16]

References

  1. ^ a b Beltran, Luisa (5 June 2020). "Shift4 Payments Is the Latest IPO to Soar Despite Pandemic". Barron's. Retrieved 3 July 2020.
  2. ^ 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.
  3. ^ 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.
  4. ^ 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.
  5. ^ a b "Shift4Payments, Inc". Yahoo Finance. Retrieved 3 July 2020.
  6. ^ 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.
  7. ^ 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.
  8. ^ Salamone, Anthony (22 March 2018). "Lehigh Valley credit card processing company won't relocate headquarters". The Morning Call. Retrieved 17 July 2020.
  9. ^ a b Nariyanuri, Sampath Sharma (17 January 2018). "Lighthouse Network buys payment processing company Shift4". S&P Global Market Intelligence. Retrieved 6 July 2020.
  10. ^ "Shift4 Payments Acquires 3dcart Ecommerce Platform". 2020-11-05.
  11. ^ "Shift4 Payments Rebrands 3dcart, Launches eCommerce Platform Shift4Shop". 2021-01-27.
  12. ^ "Shift4's acquisition of VenueNext paves way for payments in sports, entertainment". 2021-03-10.
  13. ^ "Shift4 Payments Announces Pricing of Public Offering of Class A Common Stock". Yahoo Finance. 10 September 2020. Retrieved 5 October 2020.
  14. ^ "Payment Methods Shift4 Introduces Contactless QR Pay Tech". PYMNTS.com. 24 June 2020. Retrieved 22 July 2020.
  15. ^ Kudo, Hikaru (29 July 2020). "Raiders Thinking Ahead with Shift4 Payments Partnership". Sports Illustrated. Retrieved 5 October 2020.
  16. ^ 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.
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