ILD Announces Significant Revenue Growth in its Payment Processing Services Division in 2006

08/28/06 | Ponte Vedra Beach, FL

 

ILD, an industry leader in payment processing, business process outsourcing and conferencing solutions, has achieved 67% growth in its Payment Processing Services division this year. The increase is a result of growth in ILD’s core Local Exchange Carrier (LEC) billing base, expansion into alternate channels (direct and pre-pay) and the emergence of Information & Entertainment Transaction Billing (IETB). Explains CEO & Chairman Mike Lewis, “The strong gains we’re experiencing in payment processing are largely due to success in new market penetration, large client acquisitions and our ability to quickly deliver settlement funds to our customers. These successes are reinforced by our experienced hands-on executive management’s ability to provide customers with reliable service, and a solid financial base, making ILD a premier choice for securely handling their billing needs.”

ILD leads the LEC Billing industry in settlements, processing its settlements up to 50% faster. The bottom line: ILD customers get their money faster. The company’s payment processing business includes the start-up in 2005 of an Alternate Payments Channel that has grown to now represent nearly 10% of ILD’s payment processing revenues in less than two years. ILD has also added validation services to its payment processing function, a service that greatly reduces a client’s risk of bad debt.

Highlights of ILD’s payment processing include:
• Successfully demonstrated payment processing revenue growth in excess of 67% in 2006
• Securely bills over 7 million transactions each month
• Ability to invoice through 1,300 local phone companies across the U.S. and Canada
• Deployed IP technology to support its San Antonio customer care facility, resulting in
improved redundancy, flexibility and efficiency for increased customer satisfaction

ILD anticipates the growth will continue, especially in Information and Entertainment Transaction Billing (IETB) segment. “We’re at the forefront of IETB which is an emerging trend in payment processing. It provides non-credit card payment alternatives to the digital content community,” explains President Dennis Stoutenburgh.