Although he was very, very brief, VantivInc. CEO Charles Drucker was clearly fired up Tuesday about the growth that his payments processing company has lately generated.
“We’ve moved to the second-largest merchant acquirer,” said Drucker, of his Symmes Township-based firm, in a two-minute conversation after the meeting.
That’s two minutes longer than he typically talks; Drucker also doesn’t give a presentation during the meeting, as most public company CEOs do.
Drucker chatted long enough, however, to point to e-commerce, integrated payments – which tie payments to other business applications in a single software system – and merchant processing as key drivers of Vantiv’s growth. The company’s revenue shot up 22 percent last year and is now up 59 percent in three years, dating back to when it completed an IPO and went public in March 2012, shortly after spinning off from Cincinnati-based Fifth Third Bancorp (Nasdaq: FITB).
Acquisitions have made a huge difference. Vantiv (NYSE: VNTV) bought e-commerce payments processor Litle & Co. in November 2012, boosting that segment. And two more recent deals, including the acquisition of Mercury Payment Systems in June, lifted its sales in the integrated payments area.
I also asked Drucker about how Vantiv is dealing with cybersecurity. Hackers have infiltrated plenty of electronic payment systems, putting that topic in the news more often than processors would like.
“We’ve always been a leader in that area,” Drucker told me. “After being carved out from the bank, we’ve always been very focused on that.”
He said Vantiv offers security services such as point-to-point encryption and “tokenization” – which hides sensitive payment data – to help customers guard against hackers.
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