Business Wire
Shift4 Payments, the leader in integrated payment processing solutions, has announced the launch of Shift4Cares.com, a round-the-clock online resource for government agencies, news outlets and businesses affected by COVID-19. The website offers a wealth of valuable information on the economic impact of this pandemic and is part of Shift4’s initiative to raise over $200 million for restaurants and other small businesses — including up to $10 million contributed directly from the company.
As a leading payment processor for the hospitality industry, Shift4 Payments is in a unique position to assess the economic impact COVID-19 is currently having on restaurants, bars, hotels and various other business types. Shift4 securely processes over 3.5 billion transactions annually for more than 200,000 businesses nationwide, representing over $200 billion in payments each year. This amount of transaction data is a powerful tool in assessing the impact of COVID-19 on business communities across the country.
Data on the site for the last seven days shows that hospitality industry transactions are down significantly when compared to the week of February 2, with restaurant transactions down 74%, hotels down 86% and all other industries down 64%. While the impact has been felt across the country, the states leading the declines are California (91%), Pennsylvania (89%), Texas (89%) and New York (88%). Nationally, restaurant transactions declined from 42 million to 11 million during this time period, while hotel transactions declined from 144 million to 20 million. Nationwide and state-by-state data is available at Data on the site for the last seven days shows that hospitality industry transactions are down significantly when compared to the week of February 2, with restaurant transactions down 74%, hotels down 86% and all other industries down 64%. While the impact has been felt across the country, the states leading the declines are California (91%), Pennsylvania (89%), Texas (89%) and New York (88%). Nationally, restaurant transactions declined from 42 million to 11 million during this time period, while hotel transactions declined from 144 million to 20 million. Nationwide and state-by-state data is available at Shift4Cares.com.
“Given the tremendous scale of our payment platform, the transaction data we have made available offers valuable insight into the effects that this pandemic is having on U.S. businesses,” said Jared Isaacman, CEO of Shift4 Payments. “The data is truly staggering, and our hope is that making it widely available will encourage the U.S. government to act on behalf of the country’s hospitality business community and provide the relief that these industries desperately need as a result of COVID-19.”
