ACCESSPOINT CORP - Showing Steady Growth In the Face of Slowing Economic Environment
Accesspoint Corp. announced that the company continues to achieve marked growth despite the fact that many technology-based companies have struggled in recent months.
The growth has resulted largely from its credit card processing division, which has enjoyed an increase of more then 68% in the dollar volume of transactions settled from February to March 2001. This division also continues to show geometric growth in both total revenues and in the number of merchants serviced.
"Our decision to transition from a third party software and internet services provider to a primary provider of financial transaction underwriting, processing and business management services has really begun to pay off as we continue to see our numbers grow," said Tom M. Djokovich, CEO of Accesspoint.
"To see our revenues increase by more than 56% for the first quarter of 2001, while significantly reducing our operating costs through consolidation and automation is very encouraging," continued Djokovich.
"Accesspoint's technology is making it easy for both our growing national sales channel and our base of merchants to enjoy the benefits of a comprehensive level of payment options and value-added businesses services without having to juggle the multiple business relationships normally required for these functions," concluded Djokovich.
The National Federation of Independent Business (NFIB), which surveys members monthly, said that in February, only 21% reported higher sales for the previous three months. Meanwhile, 35% were experiencing lower sales. All in all, it's the worst showing since 1991. Likewise, the respondents reporting reduced earnings are lower than at any time since 1992, while the federation's index gauging capital-spending plans was near its historical low in February. The majority of those surveyed cited economic prospects for their tightfistedness. "We're seeing what you would expect when sales drop," says William C. Dunkelberg, the NFIB's chief economist. "Profits will be lower this year, but it doesn't mean people are going out of business."
Even in the face of adverse economic conditions, however, Accesspoint is making major inroads in the greater than $8 trillion check payment market and $1 trillion credit card processing industries.
About Accesspoint
Accesspoint has been serving thousands of merchants nationwide since 1995 and has combined its mature Application Services technology platform with its unique relationships with Chase Merchant Services LLC and First National Bank of Omaha to provide bundled payment acceptance and business management services.
These programs provide customers with multiple payment acceptance capabilities including credit card and check transaction, a fully operational e-commerce and business management Web site, and a central Web-based management system for servicing both the brick-and-mortar and Web-based sides to each business.
TEL: 949/852-8526 Tom Djokovich, Accesspoint Corporation
Website: htt://www.Accesspoint.com
TEL: 800/229-2682 Lawrence Hartman, Alliance Consulting Group
Website: allconsultgroup.com |
