BillingTree, Inc., an on-demand payment processor, today announced company growth of 33 percent during 2010. In January and February 2011, BillingTree closed two consecutive record months and the company has expressed confidence in forecasting over 20 percent growth for 2011.
In 2010, BillingTree significantly added to its suite of solutions and grew presence in two key markets, Healthcare and Utilities. Additionally, the company won substantial orders in these markets and in 2011 has added Insurance to its list of markets served. In Q1, BillingTree launched a new generation of mobile payment solutions which it is rolling out across all industry segments during 2011, significantly driving its strong growth forecasts.
“A recent report from the AITE Group forecasts the number of bills paid with a mobile device is set to grow by 377 percent over the next three years,” commented Scott McCollum, BillingTree’s president. “BillingTree is set to take advantage of this with our mobile payments suite of solutions, and penetration into the new and rapidly growing markets of Healthcare, Utilities and Insurance.”
During 2010 BillingTree increased its staff headcount by 25 percent and added to its executive leadership team. The company has now established a 1,600 strong base of customers, along with the formation of 63 strategic alliances and its new ISO program, which has already led to considerable opportunities in new verticals.In
2010 BillingTree added key technology developments to its payments processing portfolio to drive its growth, including Pre-funded accounts, PaynCash and Debit Cards Only. In 2011 it has already added a new mobile payments suite, which includes billing and paying by text. Additionally, in 2010 the company continued to abide by PCI Compliance guidelines and will maintain PCI Certification for 2011.2010 saw BillingTree host its first user conference attended by customers and partners, and continue with its charity work by raising $100,000 for two charities, JDRF and ChildHelp, through the Rock Block concert.
BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities, such as energy, cable, municipal, and phone, as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.