Market Overview

For the 2nd Time, Universal Processing Appears on the Inc. 5000, Ranking No. 4750 With Three-Year Revenue Growth of 62.61 Percent

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NEW YORK, Aug. 14, 2020 /PRNewswire-PRWeb/ -- Inc. magazine today revealed that Universal Processing is No. 4750 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy's most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

"To receive this award not just once, but two times in as many years is an incredible accomplishment for us," remarked Universal Processing Founder and CEO Saint Hung. "More so, it's a testament to the hard work and dedication of our incredibly talented employees and validation for the key decisions we've made over the past few years. It hasn't been an easy journey, but we've shown that our steadfast commitment to innovation and integrity in our business practices have yielded sustainable growth. With the recent launch of our very own uServe POS suite, I'm both excited and hopeful for the rest of 2020, despite the tumultuous start the pandemic has brought."

Since the company's founding in 2003, Universal Processing has remained true to its founding mission of offering minority business owners access to modern, innovative payment processing tools backed by expert multilingual support and dedicated 24/7 assistance. The company now processes 1.6 billion dollars in managed revenue, serving 12,500 clients across 50 states from offices located in Manhattan, Flushing, Texas, and Southern California.

"The companies on this year's Inc. 5000 come from nearly every realm of business," says Inc. editor-in-chief Scott Omelianuk. "From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism."

Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000's aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.

The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.

About Universal Processing, LLC.
Universal Processing, LLC., is an ISO/MSP (Independent Sales Organization/ Merchant Service Provider) of First Data, registered through Wells Fargo Bank, N.A. They are a leading provider of technology-enabled payment processing for merchants and suppliers of all sizes in the United States with POS, online, and mobile interfaces, as well as ERP and CRP software integrations. Universal Processing has 4 offices nationwide in Manhattan, NY, Flushing, NY, Arcadia, CA, and Houston, TX., currently serving over 12,500 merchants and manages over $1.6 billion in annual revenue.
For more information, visit https://www.uprocessing.com/

More about Inc. and the Inc. 5000

Methodology
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success. The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

About Inc. Media
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit http://www.inc.com.

For more information on the Inc. 5000 Conference, visit http://conference.inc.com/.

 

SOURCE Universal Processing LLC

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