Stress on Data Helps Swipely Hit $4-Billion Mark in Processing Volume

Merchant-services provider Swipely Inc. says it is now managing more than $4 billion in annual sales generated by its restaurant, hospitality, and retail clients, representing a four-fold increase over 2013, the company says.

Providence, R.I.-based Swipely chief executive Angus Davis says the company’s three-pronged sales approach helps. In addition to direct and national salespeople, Swipely also uses what it calls channel partners, including independent sales organizations, point-of-sale resellers, and consultants who work with restaurants and retailers.

“This approach allows us to move quickly and meet the needs of each customer type,” Davis tells Digital Transactions News in an email. Additionally, sales are aided by Swipely’s ability to aggregate and secure data and make them usable for merchants to help them grow their sales, he says.

“Restaurants and retailers of all sizes want to operate smarter and grow faster by using data to make decisions,” Davis says. Swipely helps by providing answers to questions such as which menu items bring customers back, who are the best customers at each location, and why, he says. A typical Swipely merchant grosses more than $1 million per location, he says.

Davis declined to disclose Swipely’s fees, but says pricing is custom to each merchant and is based on the number of locations, users, and sales.