News & Articles

November 29, 2011

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FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT TO PRESENT AT THE BANK OF AMERICA MERRILL LYNCH LEVERAGED FINANCE CONFERENCE

NASHVILLE, Tennessee - (November 29, 2011) - iPayment, Inc. (“iPayment” or the “Company”) today announced that it will be presenting at the Bank of America Merrill Lynch Leveraged Finance Conference to be held November 30 – December 2, 2011, in Orlando, Florida. The Company’s presentation at the conference is scheduled to begin at 9:30 a.m. EST on Friday, December 2, 2011. Carl Grimstad, Chairman and Chief Executive Officer of iPayment, and Mark Monaco, Chief Financial Officer, will provide an overview of the Company, its business and growth strategies and recent financial results.

A live webcast of the presentation will be available at 9:30 a.m. EST on Friday, December 2, 2011 by going to the Company’s website, www.ipaymentinc.com, and clicking on Investor Center or to https://www.veracast.com/webcasts/baml/credit2011/id30898150.cfm. For the live webcast, please go to the site at least 15 minutes prior to the presentation to download and install any necessary audio software. A replay of the webcast will also be available at the same locations through December 16, 2011.

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well as other forms of payment, including debit cards, checks, gift cards and loyalty programs. iPayment provides services to approximately 135,000 merchants throughout the United States.

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November 2, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT ANNOUNCES CONFERENCE CALL TO DISCUSS THIRD-QUARTER 2011 FINANCIAL RESULTS

NASHVILLE, Tennessee - (Nov. 2, 2011) - iPayment, Inc. today announced that its management will hold a conference call on Monday, November 14, 2011 at 10:00 a.m. (Eastern Time) to discuss its 2011 third-quarter results. To listen to the call, participants should dial 913-312-0406 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 12:00 p.m. (Eastern Time) on Monday, November 14, 2011 and continue through November 22, 2011 by dialing 719-457-0820 and entering Confirmation Code 2474109. The live broadcast of iPayment’s quarterly conference call will be available online at www.ipaymentinc.com or http://www.videonewswire.com/event.asp?id=83504 on November 14, 2011 beginning at 10:00 a.m. (Eastern Time). The online replay will be available at approximately 12:00 p.m. (Eastern Time) and continue for one week.

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small and mid-sized merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs. iPayment provides services to approximately 135,000 merchants throughout the country.

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August 15, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2011

•   • John Vickers to Join Board of Directors
•   • Announces Planned Relocation of Corporate Headquarters

NASHVILLE, Tennessee - (Aug. 15, 2011) - – iPayment, Inc. (“iPayment” or the “Company”) today announced financial results for the three months ended June 30, 2011. Revenues increased to $184.6 million for the second quarter of 2011 from $183.9 million for the second quarter of 2010. Revenues, net of interchange, were $85.3 million for the second quarter of 2011, which were flat compared to the second quarter of 2010. Net loss was $8.7 million for the second quarter of 2011 compared to net income of $8.3 million for the same period last year. The net loss in the second quarter of 2011 was attributable to costs associated with the refinancing and equity redemption completed by the Company during the period (collectively, the “Transaction Costs”), which totaled $18.7 million or $12.4 million after tax. In addition, the Company incurred higher interest and amortization expenses as a result of the refinancing and increased compensation expense. The Company had approximately 133,000 active merchants at June 30, 2011, unchanged from June 30, 2010.

For the six months ended June 30, 2011, revenues increased to $354.2 million from $343.5 million in the first six months of 2010. Revenues, net of interchange, increased 6.6% to $164.2 million in the first half of 2011 compared to the first half of 2010. The Company recorded a net loss of $1.1 million in the first half of 2011, which included the negative after-tax impact from the Transaction Costs of $12.4 million, compared to net income of $10.5 million in the first half of 2010.

The Company filed its Form 10-Q for the three months ended June 30, 2011 with the Securities and Exchange Commission (the “SEC”) today.

iPayment Holdings, Inc. to Expand its Board of Directors

The Company also announced that its direct parent, iPayment Holdings, Inc., will name John A. Vickers to its Board of Directors. Mr. Vickers is currently Chairman and Chief Executive Officer of Tishman Realty Corporation and Tishman Hotel Corporation, having served the Tishman organization for 27 years in positions in increasing responsibility. He is responsible for Tishman’s owned portfolio of hotels and for overseeing all of the firm’s service divisions. Mr. Vickers was also Vice Chairman and Principal of Tishman Construction Corporation prior to its sale to AECOM in July 2010. Mr. Vickers’ appointment to the Board will be effective September 1, 2011.

Carl Grimstad, Chairman and Chief Executive Officer of iPayment, remarked, “We are pleased to announce the addition of John Vickers to our Board of Directors. John has distinguished himself through his extensive record of success at Tishman, and he brings over 25 years of business experience in the hospitality and real estate industries to iPayment. We are confident of John’s ability to contribute to the long-term growth of iPayment, and we look forward to working with him. His selection is consistent with our previously announced intention to expand the number of our independent directors, as well as our commitment to strong corporate governance.”

Corporate Headquarters to Relocate to New York in January 2012

iPayment also announced that it plans to relocate its headquarters to New York City at the start of 2012. Mark Monaco, the Company’s Chief Financial Officer said, “Our decision to relocate to New York was primarily driven by the opportunity for us to be very close to a large portion of our sales organizations, a significant number of our investors and other key constituents. We expect this process, which is already underway, to be fully complete by January 2012.”

Afshin Yazdian, iPayment’s Executive Vice President and General Counsel and Secretary, has announced that he will leave the Company at the end of 2011, concurrent with the relocation of the corporate headquarters. Mr. Monaco remarked, “Afshin Yazdian has served iPayment with distinction as EVP and General Counsel since the Company’s founding over 11 years ago. During this time, Afshin has played an important role in the Company’s growth and expansion. All of us at iPayment appreciate the significant contribution he has made to our Company’s success. We wish him well in his future endeavors.” Mr. Yazdian resigned as an officer of the Company and its affiliates effective August 12, 2011 but will continue as an employee of the Company through the end of the year and assist with the relocation and the transitioning of his responsibilities to other executives. With the exception of Mr. Yazdian, all senior executives of the Company currently based in Nashville intend to relocate to New York.

Conference Call

Management will hold a conference call Tuesday, August 16, 2011 at 10:00 a.m. (Eastern Time) to discuss its 2011 second quarter results. Participants should dial 913-312-0399 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 12:00 p.m. (Eastern Time) on August 16, 2011 and continue through August 24, 2011. You can access the replay by dialing 719-457-0820 and entering Confirmation Code 2614480.

The live broadcast of iPayment’s quarterly conference call will be available online at www.ipaymentinc.com or http://www.videonewswire.com/event.asp?id=81167 on Tuesday, August 16, 2011 beginning at 10:00 a.m. (Eastern Time). The online replay will be available at approximately 12:00 p.m. (Eastern Time) on August 16, 2011 and continue to be available for one week.

Information in this press release may contain “forward-looking statements” about iPayment, Inc. These statements involve risks and uncertainties and are not guarantees of future results, performance or achievements, and actual results, performance or achievements could differ materially from the Company’s current expectations as a result of numerous factors, including but not limited to the following: acquisitions; liability for merchant chargebacks; restrictive covenants governing the Company’s indebtedness; actions taken by its bank sponsors; migration of merchant portfolios to new bank sponsors; the Company’s reliance on card payment processors and on independent sales organizations; changes in interchange fees; risks associated with the unauthorized disclosure of data; imposition of taxes on Internet transactions; actions by the Company’s competitors; and risks related to the integration of companies and merchant portfolios the Company has acquired or may acquire. These and other risks are more fully disclosed in the Company’s filings with the SEC, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2011 and June 30, 2011. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments, including debit cards, checks, gift cards and loyalty programs. iPayment, Inc. currently provides services to approximately 180,000 small businesses with open merchant accounts throughout the United States.

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July 27, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT ANNOUNCES CONFERENCE CALL TO DISCUSS SECOND-QUARTER 2011 FINANCIAL RESULTS

NASHVILLE, Tennessee - (July 27, 2011) - iPayment, Inc. today announced that its management will hold a conference call on Tuesday, August 16, 2011 at 10:00 a.m. (Eastern Time) to discuss its 2011 second-quarter results. To listen to the call, participants should dial 913-312-0399 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 12:00 p.m. (Eastern Time) on Tuesday, August 16, 2011 and continue through August 24, 2011 by dialing 719-457-0820 and entering Confirmation Code 2614480. The live broadcast of iPayment’s quarterly conference call will be available online at www.ipaymentinc.com or http://www.videonewswire.com/event.asp?id=81167 on August 16, 2011 beginning at 10:00 a.m. (Eastern Time). The online replay will be available at approximately 12:00 p.m. (Eastern Time) and continue for one week.

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs. iPayment provides services to approximately 133,000 small merchants throughout the country.

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May 23, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT COMPLETES EQUITY REDEMPTION

•   • Carl Grimstad Becomes Chairman and CEO
•   • Mark Monaco Appointed to Board of Directors
•   • Comprehensive Refinancing Provides Capital Structure Supporting Prospects for Long-Term Growth

NASHVILLE, Tennessee – (May 23, 2011) – iPayment, Inc., together with its affiliates, (“iPayment”) today announced that it has completed the last step under its previously announced comprehensive refinancing in which it has redeemed the equity interests of Gregory Daily, iPayment’s former Chairman and Chief Executive Officer, and entities controlled by him or in trust for the benefit of his family members. Concurrent with the redemption, Mr. Daily resigned all of his positions at iPayment. Additionally, through the redemption agreement Mr. Daily entered into non-competition and non-solicitation covenants under which he has agreed not to compete with iPayment and not to solicit employees, sales agents, independent sales groups and merchant customers of iPayment. With the completion of the redemption, Mr. Daily is no longer affiliated with iPayment in any capacity.

With the consummation of the equity redemption, Carl Grimstad, who is currently President of iPayment, became the Company’s Chairman and Chief Executive Officer. Mr. Grimstad also has become iPayment’s primary shareholder. In addition, Mark Monaco, iPayment’s Chief Financial Officer, has been appointed to iPayment’s Board of Directors. iPayment intends to add three independent directors to the Board in the near future.

Commenting on the announcement, Mr. Grimstad said, “With the completion of the equity redemption and the flexible capital structure created by our associated comprehensive refinancing, our organization is now well positioned to serve and support our merchant customers, sales agents, independent sales groups and other iPayment stakeholders and to focus on growing our business.”

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs. iPayment provides services to approximately 132,000 small merchants throughout the country.

Forward Looking Statements

Information in this press release may contain “forward-looking statements” about iPayment, Inc. These statements involve risks and uncertainties and are not guarantees of future results, performance or achievements, and actual results, performance or achievements could differ materially from the Company’s current expectations as a result of numerous factors, including but not limited to the following: acquisitions; liability for merchant chargebacks; restrictive covenants governing the Company’s indebtedness; actions taken by the Company’s bank sponsors; migration of merchant portfolios to new bank sponsors; the Company’s reliance on card payment processors and on independent sales groups; changes in interchange fees; risks associated with the unauthorized disclosure of data; imposition of taxes on Internet transactions; actions by the Company’s competitors; and risks related to the integration of companies and merchant portfolios the Company has acquired or may acquire. These and other risks are more fully disclosed in the Company’s filings with the U.S. Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K for 2010 and its Form 10-Q for the three months ended March 31, 2011. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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May 12, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT ANNOUNCES RESULTS FOR FIRST QUARTER 2011

NASHVILLE, Tennessee – (May 12, 2011) – iPayment, Inc. (“iPayment”) today announced financial results for the three months ended March 31, 2011. Revenues increased to $169,613,000 for the first quarter of 2011 from $159,540,000 for the first quarter of 2010. Revenues, net of interchange, increased to $78,884,000 for the first quarter of 2011 compared with $68,543,000 for the first quarter of 2010. Net income was $7,562,000 for the first quarter of 2011 compared to $2,220,000 for the same period last year. The Company filed its Form 10-Q for the three months ended March 31, 2011, with the Securities and Exchange Commission today.

Management will hold a conference call Thursday, May 12, 2011 at 10:00 a.m. (Eastern Time) to discuss its 2011 first quarter results. Participants should dial 913-312-0830 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 12:00 p.m. (Eastern Time) on Thursday, May 12, 2011 and continue through May 21, 2011, by dialing 719-457-0820 and entering Confirmation Code 3050517.

The live broadcast of iPayment’s quarterly conference call will be available online at www.ipaymentinc.com or http://www.videonewswire.com/event.asp?id=79392 on Thursday, May 12, 2011 beginning at 10:00 a.m. (Eastern Time). The online replay will be available at approximately 12:00 p.m. (Eastern Time) and continue for one week.

Information in this press release may contain “forward-looking statements” about iPayment, Inc. These statements involve risks and uncertainties and are not guarantees of future results, performance or achievements, and actual results, performance or achievements could differ materially from the Company’s current expectations as a result of numerous factors, including but not limited to the following: acquisitions; liability for merchant chargebacks; restrictive covenants governing the Company’s indebtedness; actions taken by its bank sponsors; migration of merchant portfolios to new bank sponsors; the Company’s reliance on card payment processors and on independent sales organizations; changes in interchange fees; risks associated with the unauthorized disclosure of data; imposition of taxes on Internet transactions; actions by the Company’s competitors; and risks related to the integration of companies and merchant portfolios the Company has acquired or may acquire. These and other risks are more fully disclosed in the Company’s filings with the U.S. Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K for 2010 and its Form 10-Q for the three and nine months ended September 30, 2010. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs. iPayment, Inc. provides services to approximately 132,000 small merchants throughout the United States.

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May 6, 2011

Click here for a PDF copy of this press release

FOR IMMEDIATE RELEASE

CONTACT: Mark Monaco, Chief Financial Officer, (615) 665-1858, Ext. 115

iPAYMENT, INC. ANNOUNCES CLOSING OF SENIOR NOTES OFFERING AND SENIOR SECURED CREDIT FACILITIES AND iPAYMENT HOLDINGS, INC. ANNOUNCES CLOSING OF UNITS OFFERING

NASHVILLE, Tennessee – (May 6, 2011) – iPayment, Inc. (the “Company”) announced today the closing of its previously announced offering of $400 million in aggregate principal amount of 10.25% Senior Notes due 2018 (the “Notes”). The Company also announced the closing of its $450 million senior secured credit facilities (the “Senior Secured Credit Facilities”), consisting of (i) a $375 million term loan facility and (ii) a $75 million revolving credit facility, with the ability to request an increase of $25 million in the amount of revolving loans. The revolving credit facility will mature on May 6, 2016, and the term loan facility will mature on May 8, 2017.

The Company also announced today that its parent, iPayment Holdings, Inc. (“Holdings”), closed its previously announced offering of 125,000 units (the “Units”), consisting of $125 million in aggregate principal amount of 15.00%/15.00% Senior Notes due 2018 (“Holdings’ Notes”) and 125,000 warrants (the “Warrants”) to purchase common stock of Holdings. The Warrants represent an aggregate 2.5% of the outstanding common stock of Holdings on a fully diluted basis (after giving effect to the Warrants).

The majority of the proceeds from the offerings of the Notes and the Units, together with borrowings under the Senior Secured Credit Facilities, were used to (i) permanently repay all of the outstanding indebtedness under the Company’s existing senior secured credit facilities; (ii) redeem and satisfy and discharge all of the Company’s existing senior subordinated notes; (iii) make a distribution to the Company’s indirect parent, iPayment Investors, L.P. (“Investors”) in an amount that enabled it to redeem and satisfy and discharge all of its existing PIK toggle notes and (iv) pay fees and expenses in connection with the offerings. Subject to the satisfaction (or, if applicable, waiver) of certain conditions, all of the remainder of such proceeds and borrowings will be used to make a distribution to Investors to enable it to redeem all of the equity interests in Investors and its general partner held by the Company’s Chairman and Chief Executive Officer and by entities controlled by him or in trust for the benefit of his family members. If such equity redemption is not effected by August 4, 2011, Holdings is required to redeem Holdings’ Notes in full and the Warrants will be canceled for no consideration.

The Notes and Units were offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Notes and Units have not been registered under the Securities Act, any other federal securities laws or the securities laws of any state, and until so registered, the Notes and Units may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer, solicitation or sale of the Notes and Units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About iPayment

iPayment, Inc. is a provider of credit and debit card-based payment processing services to approximately 130,000 small merchants across the United States. The Company’s payment processing services enable merchants to process both traditional card-present, or “swipe,” transactions, as well as card-not-present transactions, including transactions over the internet or by mail, fax or telephone.

Forward Looking Statements

Information in this press release may contain “forward-looking statements” about iPayment, Inc. These statements involve risks and uncertainties and are not guarantees of future results, performance or achievements, and actual results, performance or achievements could differ materially from the Company’s current expectations as a result of numerous factors, including but not limited to the following: acquisitions; liability for merchant chargebacks; restrictive covenants governing the Company’s indebtedness; actions taken by its bank sponsors; migration of merchant portfolios to new bank sponsors; the Company’s reliance on card payment processors and on independent sales organizations; changes in interchange fees; risks associated with the unauthorized disclosure of data; imposition of taxes on Internet transactions; actions by the Company’s competitors; and risks related to the integration of companies and merchant portfolios the Company has acquired or may acquire. These and other risks are more fully disclosed in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.