Infintech gains national partnership

Ryan Rybolt started his payment processing company, Infintech, almost eight years ago. As a former banker, Rybolt thought small to medium businesses were taken advantage of and underserved. Today, his business levels the playing field through partnerships with chambers of commerce all over the country.
 
He put together a business plan with a focus on being fair and transparent by not overcharging on credit card processing fees. Rybolt, who was already connected with the Cincinnati Chamber of Commerce, began to form a partnership five years ago by offering payment-processing rates much lower than other companies. Many chambers offer members discounted group rates on things like offices supplies and health care by leveraging their collective buying power. By doing that with payment processing, Infintech saves chambers and their members around 40 percent on credit card processing costs.
 
“There’s no reason why a business should pay almost twice what it costs to process a payment,” Rybolt says.
 
Infintech provides services for in-store retail, mobile, online and phone purchases. With pre-negotiated rates and no long-term contracts, Infintech gives companies worry-free service.
 
That service won Infintech the endorsement of the state of Kentucky’s Chamber of Commerce Executives three years ago, and the business started serving 90 chambers across the state. Earlier this month, the American Chamber of Commerce Executives, which is a non-profit that helps manage chambers all over the country, announced their partnership with Infintech.
 
“The took notice of our program and approached us about becoming a partner,” Rybolt says. “This will allow us to grow into any markets we want and at a speed we want.”
 
Already, Rybolt says he has been approached by as far away as Anchorage, Alaska. In the past few years, Infintech has grown by 30 percent or more, and Rybolt expects that to be matched again this year.
 
“This opportunity is going to give us the opportunity to serve clients all over the country,” Rybolt says. “We will really be able to control our own growth.”
 
By Evan Wallis