News

Swipely manages $1B in annual sales

September 25, 2013

Swipely is now managing more than $1 billion in annual sales for merchants across 29 states, just one year since entering the payments space, according to a company press release.

Swipely, a system that allows local merchants to accept payments, understand customers and grow revenue, has doubled sales under management in the last four months, and expanded its platform support to more than 100 point-of-sale systems that merchants use every day, including market-leading Micros, Aloha and POSitouch, said Angus Davis, founder and CEO of Swipely. Business over the last four quarters has averaged 100 percent compound quarterly growth rate. Merchant customers are concentrated in several industries, including restaurants, liquor stores, salons and other independent retailers.

"Swipely turns the big data behind payments into actionable insights that local merchants value to understand customers and increase sales, without any new costs," Davis said. "From this foundation, we're growing our product into an operating system for local commerce that extends our market-leading payments and analytics service into valuable additional tools that help small businesses win."

The typical Swipely merchant accepts more than $1 million in annual credit card sales and wants to streamline the technology that owners, managers and staff use while getting better data to make smart decisions, Davis said. With Swipely, merchants have one place to:

• Make more money by understanding trends across nearly 4 million customers to provide better service and offers.
• Optimize marketing spend by measuring how marketing campaigns impact offline sales and repeat business.
• Save time each week by managing their online reputation across Facebook, Twitter, Google, Yelp, OpenTable and other social sites.
• Increase repeat business and revenue by offering consumers turnkey, branded loyalty rewards programs.

Read more about operations management.