Shift4 Payments: One Year Later, Data Shows Accelerating Rec

Shift4 Payments: One Year Later, Data Shows Accelerating Recovery as Transaction Volume Grows


Shift4 Payments: One Year Later, Data Shows Accelerating Recovery as Transaction Volume Grows
ALLENTOWN, Pa. & LAS VEGAS — April 8, 2021 — (Business Wire) — Shift4 Payments (NYSE: FOUR), the leader in integrated payment processing solutions, recently marked the one-year anniversary of its launch of Shift4Cares.com, a website that the company created to raise funds and increase awareness for U.S. merchants facing the economic brunt of the COVID-19 pandemic. Since its launch, the site has served as a resource for news outlets, businesses, and government agencies, providing valuable transaction volume data to assess the ongoing economic impact of the COVID-19 pandemic.
As the data on Shift4Cares.com has revealed, merchants in the hospitality sector experienced a severe decline one year ago at the pandemic’s start, with restaurant and hotel transactions plummeting nearly 75% during March of 2020. The data has shown transaction volume recovered somewhat steadily from May through October of 2020 but experienced declines throughout the holiday months of November and December 2020 as cases spread and increased restrictions were put in place. Since January 2021 there has been an accelerated recovery in transaction volumes with March 2021 representing a 215% increase from the pandemic “trough” level in April 2020.

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