Press Release - Collective P.O.S. Celebrates 10 Years in the Payment Processing Business
2011 Marks Collective Point of Sale Solutions’ 10th Anniversary of Providing Canadian Businesses With Debit and Credit Card Transaction Processing Services
Toronto, ON - August 17, 2011
Collective Point of Sale Solutions is celebrating its first decade in business. Founded in Woodbridge, Ontario by its current CEO and President, Michael Back, the company has grown to process over $1 billion in debit and credit card transactions annually, employ more than 75 people and service in excess of 10,000 customers across Canada.
“Given that 50% of companies fail in their first year of business and that 90%-95% fail within their first five years, the fact that we’re celebrating a decade in business is a phenomenal accomplishment,” says Mr. Back. “Ten years in, we still operate like an entrepreneurial start-up. Our company remains extremely agile and we’re growing faster, performing better and having more fun than we’ve ever had in our company’s history.”
Collective P.O.S. set out to provide small to medium-sized businesses with affordable, convenient and more customized alternatives to the debit and credit card processing services currently offered by major banks and other payment processors.
By 2008, the company had grown from its humble beginnings to be ranked among Canada’s 100 fastest-growing companies by Profit Magazine. That year, a controlling interest was acquired by Heartland Payment Systems (NYSE: HPY), the fifth largest provider of credit/debit/prepaid card processing, payroll and payment services in the United States.
Collective P.O.S. stays on top of emerging technologies to ensure its merchants receive the most reliable, secure P.O.S. terminals and high-speed payment processing solutions currently available. The company offers its merchants affordable rates that are among the lowest in the industry.
Michael Back says, “We’re very grateful to our clients, partners and employees for the tremendous success we continue to experience. Looking back from where we started to where we are now and where we’re headed, our goals and targets may have changed but our values and philosophies have remained constant."
Mr. Back added, “We continue to work tirelessly day in and day out on taking our company to the next level. We’re committed to growing our business, our employees and our customer base while we stay true to our basic principles of delivering excellence and exceeding our merchants’ expectations. We are very excited and are looking forward to the next 10 years.”
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About Collective Point of Sale Solutions Ltd.
Collective P.O.S. serves more than 10,000 businesses across Canada, including retail stores, restaurants, hospitality providers, mobile services, e-commerce merchants, mail order/telephone order businesses, professional firms/clinics/practitioners, B2B product/service providers, tradespeople and many other industries.
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