Trio helps propel ProPay to profits and efficiency
When Gary Goodrich started at ProPay, the Orem-based company had a strong product and a shaky future.
But Goodrich and company officers Chris Jensen and Richard Sorensen have built ProPay into an industry leader in just a few years by providing safe and affordable credit-card processing to merchants of every size — and by effectively outlasting most of their competition.
ProPay was founded in 1997 with a service that allowed small businesses to accept credit cards using a fax machine. In 2000, ProPay launched its first online auction account and soon moved into providing services for direct-selling companies, which need easy, secure ways to process payments and commissions.
But ProPay had low revenues, little cash and high costs.
Then Goodrich became the company's chief executive officer, president and director. He raised millions from private investors, cut costs, galvanized the sales staff and negotiated ProPay out of several costly marketing arrangements. In 2002, ProPay became profitable.
Sorensen, who became executive vice president and chief operating officer in 2006, has helped steer the company through difficult economic times thanks to his ability to unify staff, minimize costs and initiate the development of new products.
Jensen, corporate secretary and treasurer, was one of ProPay's first employees and has risen through the ranks thanks to his independent thinking and ability to grow revenue and build trusting relationships with business partners.
ProPay offers payment services to nearly all types of businesses; secure and fast risk-assessment tools; and the MicroSecure card reader, a device launched in late 2008 that lets merchants encrypt credit-card information from the moment a card is swiped all the way through transmission and processing, greatly reducing errors and data compromises.
Recent comments
do a search and read all the complaints from small businesses that...
don't do it! | Oct. 25, 2009 at 10:42 a.m.
- Sports reflect, affect ethics 5:04 p.m.
- Common phrases rooted in scripture 5:04 p.m.
- Season in bloom with the Jesse tree 5:04 p.m.
- Muslims quick to respond to Ft. Hood 5:04 p.m.
- Sermons give time, place for tattoos 5:04 p.m.
- Utah religion in the news 5:04 p.m.
- Religion news around the world 5:04 p.m.
- 5 'house church' leaders sentenced 5:04 p.m.
- Think before buying trendy pet 5:04 p.m.
- Unhappy wife wants husband out 5:04 p.m.
- BYU would like friendlier rivalry
263 - Protests against Phoenix LDS temple
211 - RSL wins MLS Cup on penalty kicks
202 - Bronco, Kyle rubber match
139 - Thunder rolls by Jazz
136 - Letters: Rushing to judge Palin
133 - Boys basketball rankings
126 - Editorial: Poor welcome for Palin
112 - Man trapped in Nutty Putty cave dies
106 - Hall, Johnson matchup key
102
I wanted to tell them not to go. I dropped subtle hints. "My money is on...
When I was a kid, I worshipped my grandpa. He was undoubtedly my hero....
nothing great, but surrounded by a pretty good core team - and that credit...
I'm shocked Leon agreed with keeping John in there. Then again, if they EVER...
We need to add a few more facts to the 9:56 a.m. post. PAST = 1....
Nobody smuggled a beer into the Utah-BYU game last, kept it the whole game,...
byu by 1
Thanks for showing, Lenora, that leading begins in the home. No wonder you...
Yes three ten win seasons in a row :) Like picking our stats? Well, if...
To Mike / 4:44 p.m. If you read all of the news articles, you will know...
I love the current uniforms! How silly to go back to the old ugly uniforms...
I can't wait for this time tomorrow and all the excuses the B Whine U fans...



