Archive for the ‘News’ Category Makes # 11 on Inc 500


Unparalleled growth for PaymentMax has allowed the company to take a significant leap forward in the latest Inc 500 rankings. The payment processing firm rose to no. 11 in the 2011 edition of the magazine’s annual ranking of the fastest growing private entrepreneurial companies in the nation.

It represents a major climb from the 2010 Inc 500 rankings for PaymentMax. It came in at no. 151 on the list a year ago. Inc Magazine has released an annual list ranking the 500 fastest growing private companies throughout the United States since 1982.

The leap forward simply offers the latest sign of how PaymentMax has grown into a leader in the financial services industry in a short period of time. That represents an astonishing 3-year growth rate of 10,058 percent. It is no secret why this has happened. PaymentMax has revolutionized the entire financial services industry by offering lower rates, quicker account setup for merchants, rapid funding, more flexibility and around the clock customer support.

PaymentMax is headquartered in Thousand Oaks, California. Since it was first founded in 2004, PaymentMax has helped thousands of merchants across the nation manage credit card and debit card transactions. It offers payment processing solutions to many small to midsize retailers including restaurants, mail order companies, wireless companies, Internet businesses and health care providers.

PaymentMax and ROAM Data Enter New mCommerce Solution

PaymentMax Processing Inc., a leading provider of payment processing solutions, has joined league with ROAM Data, Inc., developer of an audio coupled card reader, to add two more “firsts” to an ever growing list of firsts for the iPhone 4. PaymentMax and ROAM Data are working together to provide cutting-edge mCommerce solutions.

When ROAM Data launched ROAMpay Swipe™, the world’s first encrypted audio coupled card reader earlier this year, it was hailed because the Swiper could run on a wide variety of mobile phones and handsets. Now ROAM Data is the very first company to introduce card reader hardware that works on the iPhone 4.

PaymentMax is the world’s first provider of iPhone4 merchant services. Now, for the first time since its release, iPhone 4 owners have the option of swiping credit and debit cards by using ROAM Data’s ROAMpay Swiper when they elect to have a merchant account with PaymentMax.

Both companies are full-service providers in their respective fields. Merchants who use their iPhone 4 to make and track sales will have a seamless customer service experience.

About PaymentMax Processing, Inc.
This California company has been in business since November of 2004. During this time it has provided merchant services for thousands of small to mid-size businesses in areas as diverse as retail, medical offices, restaurants, direct sales, phone and mail order businesses, non-profit organizations, and more. They are becoming a leader in providing support services for mCommerce where sales are initiated and completed using mobile devices. You can visit them on Facebook, Twitter, or

About ROAM Data, Inc.
Based in Boston, MA, and founded in 2005, ROAM Data is the patent holder for the award winning ROAMpay Swipe™. This card reader plugs directly into a phone’s 3.5mm headphone jack and utilizes end-to-end encryption for secure data transmission. They are a provider of mobile applications for direct sales that allow the merchant to check the status of the order directly from his phone. You can visit them at

Square’s Real Competitors

ROAM Data is a market leader involved in mCommerce i.e. mobile commerce and mobile payments solutions. Company is based out of Boston, and many a time compared with Square. However, in reality this is not apples to apples comparison. This is because the only similarity between the two companies is that both are associated with development of some sort of credit card reader plugs, which are placed in headphone jack. However, both these companies differ in their history, technology, and business model.

ROAM enables technology service delivery through multifarious mCommerce applications. The company’s clientele consists of small to large merchants using ROAM’s mCommerce solutions to conduct face-to-face or remote business with their customers. However, you as a user of ROAM’s mCommerce application should not expect a merchant account as ROAM is not a MSP, a commonly used acronym for Merchant Service Provider. In contrast to this, Square competes in merchant accounts space. Square has merely built a single application in card processing and a proprietary audio jack based card-swiping technology.

ROAM Data is a leader in providing card acceptance applications on a turnkey basis to a MSP. Company’s patent pending audio jack card-swiping technology is used by different MSPs along with their innovative and competitive ideas to capture a larger pie in the merchant account market. Thus, Square and other MSPs compete in a market using solutions built by ROAM Data. In light of this information, when you try to compare Square and ROAM Data with little bit of qualitative research you would notice that Square operates more in peer to peer payment space. Users of Square are required to sign-up with Square to user their card-swiping headphones jack based plug and merchant account. Conversely, ROAM’s technology caters to real merchants transacting their business in huge bulks with higher volume real merchant accounts. The sophisticated card reader provides superior encryption security, higher read rates, and has higher compatibility with different types of mobile devices. Even though to manufactures, this state-of-the-art secure mobile point of sale (POS) solution turns out to be relatively more expensive, it costs only a fraction of traditional POS technology.

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Android Smartphone Merchant Accounts Top iPhone, Blackberry

There is plenty of competition, good competition, but the trademarkrd little green droid is eating applesauce and blackberries for lunch. Earlier this month, the Canalys research firm reported that globally, the Android platform shipments topped all other platforms. For the fourth quarter of 2010, that amounted to a whopping total of 32.9 million Android-based devices shipped.

The point spread may not be quite as large in the United States, but even here, Android smartphones are preferred by businessmen. Evidence of this is seen in the fact that for the month of January, 2011, 83% of all new smartphone merchant accounts with PaymentMax where for Android smartphones. 11% were for the iOS run on iPhones and iPads. BlackBerry came in third, accounting for 6% of the newly opened mobile accounts.

Canalys went on to project that even in the face of market concerns over platform fragmentation and Verizon’s addition of the iPhone 4, Android will continue to grow at more than twice the rate of its major smart phone competitors in 2011.

Canalys’ analyst, Chris Jones, stated, “The growth of Android has been phenomenal… we believe that growth will continue. Vendors working on Android have leveraged the open source platform to push prices down and bring smart phones to the mass market.”

Android mobile devices are expected to continue to be strong sellers among small business professionals. Both smartphones and tablet computers have opened up new possibilities in the arena of mobile commerce.

PaymentMax offers merchant accounts to these entrepreneurs with features specially designed for small and midsize businesses. These include one flat monthly fee for statement and gateway fees, special low rates for swiped cards, and no mandatory long-term contractual commitments. Business professionals like being able to use the hardware that they already have in place, and being able to stick with the same data package provider that they currently use.

Max Payton, Director of Business Development at PaymentMax, says, “Our company gives owners of Android mobile devices all the help they might require to process credit cards.”

About Canalys
Canalys specializes in compiling and publishing market data, analysis, and advice to the world’s leading technology vendors. It was founded in 1998 by Steve Brazier and has locations in the United Kingdom, Singapore, and the United States.

About PaymentMax
PaymentMax was incorporated in 2004 to provide credit and debit card processing. The company serves professionals and merchants throughout the US.

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PaymentMax to offer Credit Card Processing Plan for Verizon iPhone

Los Angeles, CA, February 5, 2011

The long-awaited release of the iPhone 4 on Verizon Wireless is upon us. Television ads have been airing for several days. Verizon has stopped accepting pre-orders from existing customers. Their website is announcing that online sales will begin 02.09.11 3:01 AM EST. Sales in their stores begin the following day, 02.10.11, at 7:00 AM local time. PaymentMax will be able to offer a credit card processing plan for the iPhone 4 immediately.

PaymentMax, last year ranked at #12 in financial services by Inc. 500, is a provider of merchant services that specializes in mobile processing for credit cards. They announced today that they are able to offer merchant service accounts for the Verizon iPhone.

Max Payton, Director of Business Development at PaymentMax, says, “We look forward to welcoming new customers and assisting our current customers who will be using the iPhone 4 on Verizon. We believe Verizon’s proven reliability and their nearly complete nationwide coverage will spur even more growth in mobile commerce. It is a win-win situation.” The Verizon iPhone will also be able to roam on networks in Canada and Mexico.

It has been a long wait, especially by smartphone standards where new releases are measured in months instead of years. Verizon and Apple first started talking about bringing the iPhone to a CDMA network in 2008. At that time, processing credit cards on any hand-held device was still in its infancy, and the idea of using a personal phone to do it was still on the drawing board.

Today’s announcement by PaymentMax that they are offering credit card processing plans for Verizon iPhone shows not only how much the industry has grown, but also reinforces confidence in the idea that mobile commerce will continue to grow steadily into the foreseeable future.

The Verizon iPhone is able to serve as a mobile hotspot that can connect up to five devices. It is anticipated that this feature will make card processing via the Verizon iPhone even more attractive for its utility in making instant sales at venues such as convention floors and trade shows.

About PaymentMax
PaymentMax has been providing merchant services since November of 2004. Their emphasis on building relationships with their customers has made them a leader among financial service providers. In 2010, they were listed as #12 by Inc. 500. You can find them on Facebook, Twitter, or at

Top 5 Android Phones for Accepting Credit Cards

PaymentMax announces Top 5 Android Phones for Accepting Credit Cards

PaymentMax (PAY, Inc 500) announces its merchant services for accepting credit cards on the Top 5 Android phones. The world’s top five Android phones, as chosen by CNET, share a lot more than their instant-updating Google maps navigation, their easy-to-use Gmail interface, and their expansive customization capability. When used with a PaymentMax account, these five phones also share an ability to excel in business productivity.

Samsung Nexus S
This phone has been called “tech savvy user’s dream.” It uses a Gingerbread OS and is often chosen for its fast processor.

Samsung Epic 4G
This phone from Sprint has an AMOLED display, which means it has fluid, full-motion video. It has been reviewed as the “most desirable for power users.”

Motorola Droid X
As of press time, this is the newest Android and it is known for being a media-centric smartphone.

HTC Evo 4G
This was the first 4G WiMAX phone. It still has a great rating and has always been well regarded for its entertainment capability.

T-Mobile MyTouch 4G
This phone has been called, “a good all-round Android.” Users who like clicking things love its optical track pad.

No matter which Android you use or who your service provider is, PaymentMax merchant accounts are turning these phones into whizzes at processing credit cards. One advantage of Android open source is that it gives businessmen the autonomy to choose the app and supplementary hardware that works best with their phone and for their business.

Credit card processing via smartphones is growing by leaps and bounds as more small businessmen are finding it both efficient and reliable. One of the greatest advantages is that all of the popular Android phones can readily accommodate the software necessary to do it, so retailers and wholesalers alike are not burdened with additional costs of leasing or purchasing extra equipment.

Another reason for the popularity of smartphone card processing is that, despite the fact that financial information is being transmitted on public airways, data encryption and other security protocols make have been able to keep up and make mobile commerce competitive with using landlines. PaymentMax uses PCI certified apps with its mobile merchant accounts.

PaymentMax makes it possible to use any of these Top 5 phones for processing any major credit or debit card in one simplified account. For more information on how your business can accept credit cards on your Android phone, click here.

Merchant cash advance explained

With the U.S. economy heading South for the winter, most U.S. banks have decided to hibernate from loaning money to people and businesses. If you are a business owner who needs capital to grow your business this can be an especially trying time. It seems that banks are only loaning money to companies who are not in need of it. You may have already approached your bank for a loan complete with business plan in tow, only to be turned down or asked to jump through multiple hoops; like personal guarantees or mounds of paperwork. You may have a fantastic business, but without the banks “investment” how do you obtain the funds you need to grow your company? If you are a small business who processess credit cards you may qualify for alternative funding. It is called Merchant Cash Advance and it provides business owners with different funding options.

Merchant Cash Advance works by giving you access to your future credit card sales today. These future sales translate into instant working capital to expand your business. Say you own a booming hair salon and would like to open a second location or want to to buy new equipment, Merchant Cash Advance can fund up to $150,000 to qualified applicants. The process has a high approval rate and is relatively simple. It involves providing documentation of atleast $2500 in credit card transactions for the past 4 months. Funding can be made direct in about 5-10 days. According to First Data, “credit-worthy but underserved businesses can access capital without the time, documentation, and availability issues that are asscoiated with a loan”. There is no application or fees associated with Merchant Cash Advance.

“I have had numerous conversations with clients who are frustrated with their banks”, said Tony Shap of PaymentMax a provider of Merchant Cash Advances. “There seems to be a common denominator, if you have a business that banks do not understand or is outside their comfort area, loans are not being made”. said Shap. More and more businesses are being faced with this lending dilemma in the current economic state. They need money to finance their companies growth but do not have enough money to obtain a loan. Banks are advertising loans with great terms but exactly who are these loans going to? Norm Brodsky said it best in his Street Smarts article What the Financial Crisis Means For You, “Yes, interest rates are still relatively low, but cheap debt does you no good if no one will lend to you”.

If you are facing similiar circumstances with your small business, Merchant Cash Advance can be a great tool for your business belt. When faced with business loan pains you can pull out this funding tool easily by contacting your Credit Card Processor. Merchant Cash Advance is not a loan. There are no checks to write and there is no fixed payment schedule. Repayment is made direclty to the alternative funding provider through your credit card sales. Remittance is a specified percentage of the daily credit card sales. This percentage is mutually agreed upon, and can only be changed with permission of both parties. Statements are available for viewing online 24 hours/7 days a week.

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PaymentMax Partners with AprivaPay to Provide Merchants a Complete Mobile Credit Card Processing Solution

Westlake Village, CA
January 4, 2011

PaymentMax (PAY, Inc 500) a payment processing company that specializes in services to small and mid-size retailers, has announced their partnership with Apriva to provide its AprivaPay point-of-sale (POS) application. AprivaPay is software that is downloadable on a wide array smartphones including Android, Apple’s iPhone, and Windows Mobile devices. The partnership will give PaymentMax customers complete mobile credit card processing capability.

Credit and debit card-based payment processing on handheld devices is a rapidly growing phenomenon. As merchants look for ways to expand their sales, many have found a profitable answer by adding the capability of conducting end-to-end wireless transactions on the smartphones that they are already using to conduct business.

Max Payton, Director of Business Development at PaymentMax, believes that, “The partnership will give owners of small and mid-size businesses the most cost-effective payment solutions available, while retaining flexibility in sales operations and security in the management of financial data.”

Cell phone and handheld device technology has exploded in recent years and will continue to expand for the foreseeable future. As PaymentMax continues to augment its reputation for competitive rates, speedy funding, and 24/7 customer service, the partnership with AprivaPay software will give business owners a greater competitive margin for m-commerce.

Between them, the two companies have over 18 years of experience in a field that is still fairly new. Their success is based on the ability to produce payment systems that are known for their affordability, security, and reliability.

About Apriva
Apriva, founded in 1999, is a leading provider of end-to-end wireless transactions and secure information messaging solutions. Its AprivaPay software meets the security and reliability requirements of both government and public financial service providers. For more information, visit

About PaymentMax
PaymentMax, founded in 2004, was listed as #12 in financial services on last year’s Inc. 500. It is a provider of merchant services and specializes in mobile processing for credit cards. For more information, visit

Roampay Swiper Update

ROAMpay’s Card Swiper Updates Compatibility List

With many types of new technology, by the time a user learns how to operate it, it’s obsolete and needs to be updated. Bucking this trend is ROAMpay’s credit card Swiper, which is actually increasing the number of devices it is compatible with. Working with more types of phones makes ROAMpay more useful to a wider variety of users, offering more options for card processing to your business.

ROAMpay is the downloadable app that makes it possible to take secure credit card payments anywhere your business is. Using only your cell phone, you can enter a customer’s card information, process the transaction over a secure connection, receive an approval code, and email a receipt. The ROAMpay Swiper adds another level of convenience and functionality. It is a tiny device that plugs into your phone’s headphone jack, and enables the customer’s card to be ‘swiped’ the same way a traditional processor works. Swiping cards provides end to end encryption for transaction data, and also lowers processing fees for your business by providing for card present transactions.

The ROAMpay Swiper, in addition to working with several iPhone and Blackberry phones, now supports twelve different Andriod phone models. The wide range of supported technology makes ROAMpay a flexible tool for your business. ROAMpay allows for all your employees to process transactions on their individual phones, while it compiles the data onto a single, comprehensive sales report. You can access your sales figures on your own phone or from your office computer at any time. The range of supported models means employees can work with the phone they are most comfortable with, the phone they already have, without your business having to invest in new equipment to meet compatibility requirements.

Android phone models now supported include:

2 LG Models: LG Optimus S and LG Optimus T
Samsung Models: Samsung Epic 4G, Samsung Galaxy Tab (Sprint), and Samsung Galaxy Tab (Verizon) Samsung Fascinate, Samsung Continuum
4 Motorola models: Motorola Defy, Motorola Droid, Motorola Droid Pro, and Motorola Droid X
10 HTC Models: HTC Aria, HTC Droid Incredible (AMOLED), HTC Droid Incredible (SLCD), HTC EVO 4G, HTC G2, HTC Hero, HTC MyTouch 3G, HTC MyTouch 3G Slide, HTC Nexus One At&T, and HTC Nexus One T-Mobile, EVO Shift 4G, Motorola Xoom.

>>Updated list as of 12/1/11<< now supported on the swipe
HTC Droid Incredible 2
HTC Thunderbolt
Samsung Galaxy S 4G
Samsung Replenish
Samsung Droid Charge
18 more new phones

ROAMpay maximizes your ability to do business on your terms, in any location, using your choice of phone.

TransArmor Solution Now Available through PaymentMax

Business merchants have more security available for processing credit cards than ever before. It is called TransArmor, and it is currently available through PaymentMax.

Until now, one of the greatest liabilities of accepting credit cards has been the merchant’s obligation to keep the card data safe. To meet PCI compliance, the card data has to be encrypted. With TransArmor, it still is, but there is another level of protection added beyond encryption. It is called tokenization.

Tokenization relieves a merchant from some of the liability of keeping customer data secure. As usual, a customer’s data is encrypted immediately at the point of sale. The data is then transmitted to and decrypted by First Data so that it can be authorized by the bank. When the bank’s approval is returned to First Data, it is assigned a randomly generated token number. It is this token number that is returned to the merchant with the authorization. That number will be permanent for that customer’s business with that merchant, but it will be meaningless to any other business or identity thief. The token number can now be used in place of the card-holder data.

PaymentMax now offers this heightened security option to its customers. As a merchant, you will be able to use the token number for your own analytics and marketing, but without the added burden of having the primary card data stored in your records where it could be misused. This new layer of protection is particularly good news for small businesses and start-ups that operate on slim margins. When you protect your customers’ payment card data, you protect yourself as well.

One of the best things about using TransArmor via your PaymentMax account is that it requires very little extra effort on your part. It will add a lot of extra security without slowing down your regular business operations. Using a token number does not impede other operations for the account, such as returns, recurring billing, or preferred customer promotions. In fact, using TransArmor lets you conduct business as usual, only more safely. TranArmor works on the following credit card terminals: First Data™ FD50, FD100, FD100 Wi-Fi, FD100TI, FD200, FD200 Wi-Fi, FD300, FD300 Wi-Fi and the VeriFone® Omni® VX570 terminals.

Apply for TransArmor Merchant Account >>