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The brothers co-founded Gravity Payments with the aim of rectifying what they felt were problems in the payment processing industry.

Gravity Payments is among the 10 businesses in Seattle to receive the Mayor Greg Nickels Small Business Award.

Gravity Payments has been recognized as one of the nation’s fastest growing private companies in 2009 by Inc Magazine.

Dan Price, CEO of Gravity Payments, is interviewed by KIRO Talk Radio.

At age 24, Dan Price runs Gravity Payments, the state’s No. 1 credit-card processor, specializing in small businesses.

What I love about living here is how the locally owned small businesses have a neighborhood feel," he said. "I want to be part of that growth."

Dan Price, who grew up in Nampa, started a business at age 19 in his college dormitory room. Now 24, with a brand-new degree from Seattle Pacific University, he has 37 employees. He says his company, Gravity Payments, has become the biggest credit-card payment processor in the Seattle area.

When Dan Price, 24, and his brother Lucas, 30, launched Gravity Payments in 2004 they knew that credibility was a vital element in building their payment processing company.

"Paying for school was my number-goal," says Dan, who also received grants and scholarships from SPU. "That, and making sure my business was stable."

Of all the demands of running a business, shopping for a competitive credit card processor might seem trivial. Yet a healthy dose of due diligence can go a long way.

Dan Price, CEO of Gravity Payments, offers his input on a rising trend in the merchant services industry that has businesses’ cash reserves in peril.

Gravity Payments has much lower [attrition rate], and essentially word of mouth driven marketing leading to much lower costs of sale.