October 23, 2016 7:02 AM ET

IT Services

Company Overview of iPayment Inc.

Company Overview

iPayment, Inc. provides credit and debit card payment processing services to small merchants in the United States. It performs various functions for small merchants, such as application processing, underwriting, account set-up, risk management, fraud detection, merchant assistance and support, and equipment deployment and chargeback services. The company’s processing services enable merchants to accept credit cards and other forms of payment, including debit cards, checks, gift cards, and loyalty programs in traditional card-present or swipe transactions, as well as in card-not-present transactions, such as those conducted over the phone or through the Internet. It markets and sells its serv...

126 East 56th Street

New York, NY 10022

United States

Founded in 1999

422 Employees



Key Executives for iPayment Inc.

Chairman and Chief Executive Officer
Age: 48
Age: 64
Chief Financial Officer, Executive Vice President, Treasurer and Director
Age: 50
Head of Operations and Senior Vice President
Compensation as of Fiscal Year 2016.

iPayment Inc. Key Developments

Ipayment Inc. Appoints OB Rawls to the Newly Created Role of Co-President

IPayment Inc. has appointed OB Rawls to the newly created role of co-president. Rawls will be responsible for all of iPayment's revenue-generating activities, with a focus on incremental bottom-line earnings, cultivating new partnership opportunities and enhancing relationships with key supplier partners. Prior to joining iPayment, Rawls served as senior vice president and general manager of partner solutions at First Data Corp.

Apriva and Ipayment, Inc. Announce Mobile EMV Payment Solution

Apriva and iPayment Inc. announced that they have extended their partnership to provide EMV capable solutions to small and mid-sized businesses (SMB) using mobile points of sale. This extension of iPayment’s point of sale (POS) solutions brings EMV functionality to customers using their mobile payment application, iPayment MobilePay. iPayment MobilePay is a unique white-labeled version of Apriva’s AprivaPay™ Plus solution that turns Apple®, Android™ and Amazon Fire devices into mobile points of sale, enabling SMB customers to meet the growing demand for mobile purchases. This streamlined application is ideal for small and medium-sized businesses, and can be used in any number of venues – storefront or mobile. The solution delivers EMV chip card debit and credit acceptance, magstripe card acceptance, cloud based inventory, multi-user capability, language localization (English, French, Spanish), two-factor authentication and device tracking for added security, robust reporting features to merchants via an online web companion portal, the latest device and operating system compatibility, and compliance with Americans with Disabilities Act (ADA) regulations.

iPayment Holdings, Inc. and iPayment Inc. Announces Executive Appointments

iPayment Holdings, Inc. and iPayment, Inc. announced the addition of four new members David R. Hughes, Marshall J. Lux, Michael P. Monaco and Brian V. Mooney to the Companies Board of Directors. David R. Hughes has a diverse background in business, gaming, education, healthcare and entertainment. Since January 2014, he has been CFO of Shore Medical Center, which he had previously served as a member of the Board of Trustees and on the Finance Committee. He began his present position after three years as EVP, Treasurer and CFO of Trump Entertainment Resorts, Inc. He was a member of the Board of Directors and Chairman of the Finance Committee for Trump Entertainment, Inc. until November 2014. From 2003 to 2010, he served MTR Gaming Group in a variety of senior positions, including, most recently, Corporate EVP and CFO for more than two years, Corporate EVP of Strategic Operations and COO of MTR's property. In addition to being a member of the Richard Stockton College Foundation Board and other charity organizations, he is also a member of the Board of Directors and Chairman of the Audit Committee for American Media, a member of the Compliance Committee for Rivers Casino and a member of the Board of Directors and Chairman of the Finance Committee for Shore Quality Partners. Marshall J. Lux has been a financial services and private equity consultant for 29 years. He was most recently a Senior Partner at The Boston Consulting Group (BCG) since 2010, where he led its North American Private Equity Group. He has deep experience in payments, risk, and financial services and private equity broadly. Marshall is now a Senior Advisor at BCG. He is a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at the Kennedy School at Harvard University, researching and lecturing on financial regulation. He was also an adjunct Professor at NYUs Stern School of Business. Previous to BCG, he was the Chief Risk Officer for Consumer Products at Chase. From 1986 to 2008 he was at McKinsey and Company, where he was a Director (Senior Partner), with a focus on Financial Services and Private Equity. Michael P. Monaco has 40 years of experience in finance and management. He currently is a Senior Managing Director at CDG Group, LLC and, since 2002, has specialized in developing and executing business plans, complex restructurings and financings. He also spent 15 years with American Express (1981-1996) in positions of increasing responsibility, and served as EVP and CFO from 1990 to 1996. As CFO, Monaco was instrumental in the IPO of First Data Corporation and was a member of FDCâ s Board. Thereafter, he joined Cendant Corporation from 1996 to 2000, serving as Vice Chairman, CFO and a director and also as CEO of the Direct Marketing Division. He began his career at Ernst & Young, where he rose to Senior Auditor. Monaco is of no relation to Mark Monaco, the CFO of the Companies. Brian V. Mooney brings over 35 years of experience in financial services, higher education and public accounting to the Companies, with deep experience in the payments industry. From 2009 to 2014, Mooney served as an original director and, subsequently, became CEO of Banc of America Merchant Services, LLC. From 1998 to 2009, he served First Data in several senior executive management positions of increasing responsibility, including CFO of First Data Merchant Services, President of TeleCheck International, Inc. and President of First Data Merchant Services. Earlier, he was at Ernst & Young for 13 years, most recently as Senior Manager, where he focused on financial services companies.

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