Cape Girardeau man’s merchant services provider tops Entrepreneur rankings

A Cape Girardean’s payment processing provider has been named the top franchise supplier for merchant services in a ranking by Entrepreneur magazine.

The list, as featured in Entrepreneur’s September/October 2024 issue, recognized top-ranked service providers across 11 categories as rated by more than 1,100 surveyed franchisors based on quality, cost and value. Swipesum placed above other payment processing platforms such as the San Francisco-based Stripe and Square.

"It is an honor to receive this acknowledgement from Entrepreneur and our many franchisor partners around the world," Michael Seaman, co-founder and chief executive officer of Swipesum, said in a Tuesday, Sept. 17 news release. "This ranking is a testament to our goal of providing unmatched merchant services for franchisors focused on efficiency and significant cost savings."

Seaman resides in cape Girardeau with his family. Swipesum is headquartered in Clayton, with additional offices at 338 Broadway in Cape Girardeau.

Swipesum uses an AI platform known as Staitment to provide audits that identify hidden or inflated merchant fees in statements. The company then reviews existing processor contracts and negotiates on behalf of clients to ensure competitive rates.

"The suppliers on our list passed the most important test of all: they were recommended by their clients," Jason Feifer, editor-in-chief of Entrepreneur magazine, said. "We love surveying franchisors and asking their opinions on suppliers because we know they're eager to praise the suppliers who make a true difference in their business. And that knowledge helps everyone."

The other business categories evaluated in the rankings were accounting, banking/finance, brokers, consulting/developing, legal, marketing, public relations, real estate and events and other technology.

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