NewswireToday - /newswire/ -
San Francisco, CA, United States, 2009/08/19 - YapStone, Inc., through its RentPayment™ division, is the Country’s largest payment processor to the property market, focusing primarily on apartments, student housing, homeowner associations, and other property-related markets.
Inc. announces it has ranked YapStone, Inc. No. 662 on its annual ranking of the 5000 fastest-growing private companies in the country. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
In addition to the overall ranking, YapStone received rankings of No. 24 in the Top 100 Businesses in San Francisco-Oakland-Fremont, CA and No. 30 in the Top 100 Financial Services Companies.
YapStone expects to continue its record-breaking growth through the evolution of property managers to accept credit cards with no fee to the consumer. “With high vacancy rates in many markets, property managers are realizing the value that electronic payment acceptance provides as both an amenity and the return on investment from increased occupancy rates" says Chairman Thomas Villante. "Generation Y does not carry a checkbook and they expect to be able to pay everything electronically."
YapStone has expanded its technology payment platform in other vertical markets that are underserved by credit card acceptance with a need for online payments. “We are having another record year in our core business, and we are beginning to see how many other industries demand a complete transaction platform like ours,” says CEO Matt Golis.
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list constitute the Inc. 500, now in its 28th year.
Yapstone, Inc. (yapstone.com), the industry leader in electronic payment processing to the property management industry provides credit card processing, ACH, and remote deposit capture (check scanning) services through their best of breed YapStone Integrated Payment Platform. Founded in 1999, YapStone processes billions of dollars in annual transaction volume and currently operates two offices across the US, headquartered in San Francisco.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.