Swipely, the simple way for local merchants to accept payments, understand customers, and grow sales, announced February 7 it was named one of "America's Most Promising Companies" by Forbes Magazine. Chosen from thousands of applicants, the awards recognize the nation's 100 most promising high-growth private companies with compelling business models, strong management teams, notable customers, strategic partners, and precious investment capital.

Swipely is the first Rhode Island company ever named to the Forbes list. Swipely made its debut on Forbes' list less than one year after introducing its breakthrough product that transforms payment processing into valuable analytics and marketing tools. The company is growing by more than 50 percent each quarter, disrupting the $90 billion U.S. payments market. Today, Swipely has more than $400 million in sales under management, providing hundreds of merchants insight into the spending of more than 875,000 consumers.

"Swipely's vision is to bring powerful, simple, and affordable online tools to offline businesses. Today's recognition by Forbes validates both our huge opportunity, and our traction with customers," says Angus Davis, founder and CEO of Swipely. "As the first Rhode Island company ever named to the Forbes list, I am especially proud of our winning team."

Swipely crunches the "big data" behind every card transaction for local restaurants, salons, and other retailers, using that data to enable a suite of marketing tools that help local businesses understand customers and grow sales. These powerful tools are easy to use and cost nothing more than what merchants already pay to accept credit and debit cards. Swipely is available to merchants accepting more than $30,000 in monthly card sales.