Boost Increases Volume Processed Globally by 70%

News provided by

Feb 21, 2019, 09:00 ET

NEW YORK, Feb. 21, 2019 /PRNewswire/ -- Boost Payment Solutions, the leader in optimizing the use and acceptance of commercial card products, today announced that in 2018 it increased the commercial card volume it processed globally by 70%. Boost's success follows significant strides made over the course of the year, including the launch of a new groundbreaking payment platform, significant expansion of its global footprint, new strategic partnerships and several strategic hires.

In 2018, Boost launched Dynamic Boost^SM – the first payment platform to apply rules-based, dynamic interchange pricing to commercial card payments. Dynamic Boost has received an overwhelmingly positive response from Boost's issuer partners as well as corporate customers primarily because it breaks the mold of traditional, rigid card pricing constructs and offers pricing flexibility based on the mutual needs of buyers and their suppliers. Boost has already successfully implemented several programs utilizing Dynamic Boost on behalf of its commercial card-issuing partners and their customers.

On a global basis, Boost expanded its coverage to over 25 countries throughout the Americas, Europe, Asia, and Australia. The company anticipates adding up to ten additional regions by the end of 2019 and expects non-U.S. payments to contribute up to 25% of its revenue by the end of 2020.

Boost also expanded its partnership network, growing its banking relationships and entering into new partnerships with B2B middleware providers in the AP and AR automation space, while utilizing its core competencies to solve for supplier pain points. Overall, Boost's customer base grew by nearly 50% in 2018 and the company expects to double that in 2019.

"Now celebrating our 10^th year in business, Boost has been transforming how businesses pay each other," said Dean M. Leavitt, Founder and CEO of Boost. "Leveraging our technology platform, our proprietary processes, our unique market positioning and an incredibly dedicated and growing team, we expect to continue our meteoric growth in 2019."

Boost also made several strategic hires over the past year, including a new Chief Operating Officer and a new Chief Information Officer, and expanded the company's business development, support, and technology teams. As COO, Gordon Elliot, who previously held senior management positions at two top global financial services companies, brings his many years of stellar FinTech expertise to Boost. Boost's newly appointed CIO, Jesse Davis, has spent nearly 40 years in the FinTech arena, most recently overseeing the development and deployment of the ubiquitous payment technology found in most taxicabs in the U.S.

About Boost
As the leader in B2B electronic payments, Boost optimizes how commercial card payments are initiated, processed, received and reported. Boost's technical innovations have transformed commercial cards into a cost effective, scalable and secure alternative to traditional checks, wires and ACH. Boost features a global footprint that serves a broad spectrum of industries. Boost was founded in 2009, and is headquartered in New York, NY. Please visit us at www.boostb2b.com.

Media Contact:
Chrissy Pusz
[email protected]
(917) 438-9179

SOURCE Boost Payment Solutions