Digital Transactions
Shift4 Payments Inc. has long made no secret of its plans to expand the average size of the merchants it serves, but early on Thursday its chief executive made the company’s overarching strategy crystal clear following recent signings of such international clients as Time Inc. and SpaceX’s Starlink satellite business, along with major-league sports stadiums. “For 18 years, we served incredibly small customers, and it was a service burden on the company,” said Jared Isaacman, who also founded the Allentown, Pa.-based processor. “Now look at the direction we’re going in. It’s huge companies, and the service burden is so much less.”
Addressing Shift4’s second-quarter results, Isaacman added the company’s direction has shifted from small and domestic to big and international. Indeed, the company’s average merchant size has already doubled since 2019, Isaacman said.