Shift4, an integrated payment processing firm in Allentown said it has seen explosive growth as the world of commerce is changing.
And Tuesday, Shift4 landed a contract with The Chickasaw Nation to process payments for dozens of venues, including WinStar World Casino and Resort, the world’s largest casino.
Taylor Lauber, president and chief strategy officer for Shift4, said the company, which was started in a basement in Far Hills, New Jersey by Jared Issacman, CEO, now employs 2,100 people globally with 600 in Allentown.
The company moved to Allentown because of the talent pool and Lauber said it is preparing to move to Center Valley within the first six months of next year to accommodate its continued growth.
Shift4 provides payment technology called SkyTab for merchants ranging from casinos to table restaurants and hotels to stadiums.
“These venues have lots of places to pay throughout their facilities and we connect them all safely,” Lauber said.
But even more importantly, the company allows the merchants to accept all kinds of digital payments on one platform. Lauber explained that globally, there are a multitude of platforms for electronic payments and Shift4 allows merchants to accept them all easily.
The company has seen a year-over-year 52% growth and 15% employee growth. In fact, it added 400 employees in the third quarter of this year, he said.
Lauber said digital payment has been growing for years but exploded during the pandemic. “We take all the devices and deliver them in one platform. That is our shining star,” he said.
The company grew through strategic mergers and acquisitions to allow it to use the multiple payment platforms around the world. Lauber said they have made 21 such acquisitions in the last five years.
“We power $.25 trillion through the platform and $250 billion worth of commerce flows through us each year,” Lauber said.
“We are rarely a recognizable brand by design because we want our customers’ brands to shine,” he said. “We work behind the scenes.”
Shift4 works with about 40% of hotels, 30% of table restaurants and all UPS stores. “When we began to diversify into stadiums and casinos, we saw real growth,” he said.
In fact, in early 2020, the company worked with zero stadiums and this year, it is in more than 120.
The large venues work with hybrid technology, he explained. “If you visit a theme park and want to pay in a modern way, we do that.”
From ordering tickets to buying food at concession stands, or even from a seat, Shift4 handles the payments. It is also set up to process payments for online merchandise and online gaming, Lauber said. All on one platform.
“It used to be the Visa, Mastercard, Discover, American Express way of payment,” he said. “Now, there are all types of payment methods, like PayPal in the U.S. Other countries have their own forms of payment and that can be daunting for a company to manage.”
Lauber said the bigger the merchant, the bigger the problems they face when processing payments. “We like complex because we make it simple.”