Rapidly growing PayCompass surpasses the $1B milestone in just over 2.5 years
The payment processing company, which launched in early 2020, expects to triple in size over the next twelve months.
TEMPE, ARIZONA, UNITED STATES, September 6, 2022 /EINPresswire.com/ — PayCompass, one of the fastest growing companies in the payments industry, announced today that it has processed over $1B of payment processing volume through nearly 19.5MM transactions. The company, which began processing transactions less than 32 months ago, offers its services through a nationwide network of 100+ independent sales agents. The Tempe, Arizona based company, which primarily serves small and medium sized businesses, is completely self-funded by its founders and has taken no outside investment.
Known for its mantra of “AgentFirst,” PayCompass expanded its staff by 10x over the past 18 months to meet demand. The company partners with dozens of vendors and offers 120+ products and services for its independent sales agents to promote. However, in 2021, PayCompass launched its first private labeled offering, a point of sale software solution named TrueNorth. Buoyed by its success, the company launched PayVault, a private labeled payment gateway, earlier this year and will soon roll out Navigo, a full encompassing CRM software specifically tailored for the payment processing industry. Simultaneously, PayCompass has introduced industry leading solutions for partners looking to offer integrated payments within their software. The company’s Business Development division works closely with software developers on a daily basis that are looking to create seamless and integrated payments solutions for their software or website offerings.
“We created PayCompass because, quite simply, we felt that the amazing salespeople of this industry deserved better,” said CEO and Founder Justin Volrath. “My approach is vastly different than most leaders because I cut my teeth in this industry as a feet on the street salesman. I was cold calling and chasing down every opportunity so that I could provide for my family. Those days weren’t that long ago for me so I can still feel the frustration that came from my employers having very limited solutions. That meant I often missed out on opportunities to help the business owners I met with. When you’re paid solely on commission like I was and most salespeople in this industry still are, that really stings. You feel let down and betrayed by your own company. Unfortunately, this is still the case for hundreds of salespeople in our industry today.”
“I vowed this would never be the reality for our agents and this was the genesis of what we call the PayCompass Toolbox,” Volrath continues. “Whether the solution is something simple or complex or something in between, our agents know we’ve got their back. We never want them to feel like they need to walk away from an opportunity, so we work tirelessly to constantly evaluate our mix of products and make sure we’re offering the best of the best. If there are gaps, we fill them.”
The company, which was launched just a few months before the Covid-19 pandemic and corresponding lockdown of 2020, operated for the first 18 months out of Volrath’s home. “We started very lean and literally worked out of a corner of my master bedroom,” Volrath explains. “It was just me, and my wife Nini, working 12-hour days to handle all of the demand. What I thought would start off slow, actually blasted off like a rocket.” The operation soon expanded to a spare bedroom and then, in mid-2021, the first PayCompass office opened in Tempe, Arizona. However, just a short 13 months since moving in, the company is already searching for a significantly larger space for its rapidly expanding staff.
“The PayCompass mantra of “AgentFirst” isn’t some marketing gimmick, it’s what drives this team and shapes our decisions every single day,” Volrath asserts. “Our agents are independent contractors, so they have many options when it comes to choosing a payment processing partner. I’m humbled that so many have chosen PayCompass and I will never take it for granted. Our team knows that, if we provide our agents with an amazing experience, they will in turn do the same for our small business clients across North America.”
“Our success is owed to the amazing team at PayCompass, most of whom had absolutely zero industry experience when they joined us,” Volrath concludes. “Whether it’s our agent support team, marketing, finance, or sales support, they are what makes our agents’ experience so special. They simply figure out a way to make it happen, every single time. Without them, this sort of rapid growth would never be possible. Together with our agents, we have laid the foundation that the next phase of our growth will be built upon.”
About PayCompass
PayCompass is a privately held financial services company that offers numerous related solutions to businesses across North America. While the company’s primary offering is payment processing services, it also offers, among others, small business lending, payroll services, software integration, and point of sale solutions. Founded in 2020 by industry veteran Justin Volrath and his wife, Nini, in Phoenix, Arizona, the company is currently based in nearby Tempe. PayCompass offers its solutions through a nationwide network of independent sales agents.
Kameryn Buttrey, Marketing & Communications Manager
PayCompass
info@paycompass.com
Visit us on social media:
Facebook
LinkedIn
Other
