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Gravity Payments history
Gravity Payments company history timeline
Gravity Payments was co-founded in February 2004 by brothers Lucas Price and Dan Price.
By June 2008, the company was the largest credit card processor in Washington, with over 15,000 clients country-wide.
In October 2015, Dan Price was sued by Lucas Price over claims that Dan received excessive compensation and that he had been working against Lucas' interests.
In 2015 it had 91% employee retention rate (with industry average of 68%). Customer retention rate increased from 91% to 95% and company profits have doubled.
Dan prevailed in the case in July 2016 and was awarded attorney's fees and other expenses incurred from the lawsuit.
As of August 2020, layoffs have been avoided and workers' salaries have been restored, with the company paying back the salaries lost from the pay cuts.
In 2020, the company was making $4 million per month in revenue but faced drop of 55% in card processing fees as a result of the COVID-19 pandemic.
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Gravity Payments competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Beacon Payments | 2008 | $5.0M | 125 | - |
| US Merchant Systems | 1992 | $8.5M | 150 | 2 |
| CrossCheck | 1983 | $22.6M | 100 | - |
| Electronic Merchant Systems | 1988 | $12.0M | 200 | 27 |
| Ethos Group | 2001 | $11.0M | 200 | - |
| Tucker, Albin and Associates | 2008 | - | 176 | - |
| Capital Bankcard | - | $8.5M | 150 | - |
| Direct Connect | 1994 | $22.0M | 350 | - |
| Merchant Solutions International | 2007 | $510,000 | 5 | - |
| Merchants' Choice Payments Solutions | 1989 | $8.6M | 75 | - |
Gravity Payments history FAQs
Zippia gives an in-depth look into the details of Gravity Payments, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Gravity Payments. The employee data is based on information from people who have self-reported their past or current employments at Gravity Payments. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Gravity Payments. The data presented on this page does not represent the view of Gravity Payments and its employees or that of Zippia.
Gravity Payments may also be known as or be related to Gravity Payments and Gravity Payments Inc.