The Velocity Story

Leaving Intel

In 2003, Jeff Davidson decided to leave his software development position at Intel Corp in California and move back to South Florida to start a merchant service company. He contacted Edward Steinberg, a business mogul who sold his company in 1997 to a New York Stock Exchange company and fully retired. Eddie invited Jeff for dinner and brought a bottle of Bordeaux; a tradition that would ensue for 5 years.

The Mentor

With Eddie’s guidance, Jeff’s company began providing credit card processing services to local businesses. The mentorship continued, and Jeff’s company grew, expanding the clientele from South Florida to nationwide, and every year from 2003 through 2008, the company experienced consistent growth.

Dinner & Bordeaux

Every month, Eddie and Jeff had dinner and a bottle of Bordeaux. One night over dinner in April 2008, the question arose on how to take the business to a new level. Jeff said to Eddie “You had over a thousand people working for you and you successfully built and sold your company and retired at age 50. How do I get from here to there?”

Equal Partners

With most of the bottle of Bordeaux consumed, Eddie responded. “Jeff, I have traveled the world as many times as I want to travel it and I don’t want my life predicated on hitting a golf ball. How would you like to be equal partners and build a monster together?”

The Toast

Eddie and Jeff toasted over the last of the wine and embarked on the journey of Velocity Processing on April 28, 2008. It was the beginning of the perfect business partnership.

Success

Today the company has grown into an industry leader, winning a number of President’s Club awards and recently won a 1st place award at Elavon’s annual conference in New Orleans.

Eddie - Jeff

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