APRIL 2021 • LONGISLANDPRESS.COM 15
COVER FEATURE
A CREDIT CARD PROCESSING EMPIRE
The Vartanovs are actively involved in Concerned Jericho Parents.
So they expanded. Their mobile phone
business took off, and they were able
to expand from their Fulton Mall
booth to a retail store. Then another
opened. By the late 2000s, Jennifer and
Leo were overseeing operations for 17
T-Mobile and AT&T stores across Long
Island and Queens.
By that time, the constantly changing
world of technology evolved again.
The industry transitioned so that
retail sales were becoming a thing of
the past, especially with large giants
like Apple entering the mobile device
industry.
“When Apple came out, we were at
the peak with our 17 stores,” said Leo.
“From behind the counter, the little
credit card machine opened my eyes to
a whole new business world. I quickly
learned that there was a new world for
us beyond the magnetic strip.”
So, from the back of one of their retail
stores, they launched Merchant
Industry — a credit card processing
company that would catch the wave
of the plastic revolution in spending.
Leo and Jennifer were new to this
industry. Their experience, though,
in retail sales helped them understand
that there was a void in the field and
the need for a more reliable credit
card processing company in the New
York Metro area. They hired a few
staff members, arranged for several
cubicles between storage racks at
their mobile store, and got to work.
They saw opportunity with their
business partners, Chris Benabu
and Frank Kotlar, to build something
bigger and better. So this team, who
together share a bond that dates back
to Leo’s high school years, got to work.
“Trust has always been a key part of
our organization, and while business
might get tense, on the weekend we
remained the best of friends,” said
Jennifer. “In hindsight, what was so
amazing is, around this business we
were building one big family — and
this is nowhere more apparent than
when we are all gathered around the
dinner table with our children running
around us.’
The group began Merchant Industry
with one client. But soon thereafter,
they outgrew their backroom office
and needed to expand. They relocated
to Long Island City, where they remain
today, with Leo as CEO and Jennifer
as CFO.
The Vartanovs, Benabu, and Kotlar
set goals, committed themselves, and
began pursuit. They faced challenges,
but overcame them.
Fast forward 14 years: Merchant
Industry LLC employs 50 full-time
employees in Long Island City. It also
manages nearly 250 sales agents located
in cities across the nation.
More than 15,000 companies rely on
Merchant Industry and Swipe4Free
Processing for each and every transaction
in their businesses, ranging from
small mom-and-pop restaurants and
bodegas to some of the largest names
in auto sales.
Despite their company’s rapid growth
and success, Jennifer and Leo have
never let business interfere with
the importance of family. They have
always maintained that family is their
top priority. They have three children:
Jessica, 16, and 9-year-old twins Jonah
and Jayden. The love remains strong
between Jennifer and Leo to this day.
“My husband is a wonderful partner
and has taught me so much,” Jennifer
said. “We have been married 18 years,
and he still pushes me to be the best
person I can be — whether it comes
to business or personally. We always
share family time together, despite
how unbelievably busy we are at
work, and we encourage each other
to follow our passions, but Leo is the
support structure and I am so lucky to
have him in my life.”
Jennifer and Leo also have never
allowed their business success to interfere
with their desire to give back
to the community and advocate for a
fairer and more just Long Island.
In 2020, Jennifer cofounded Concerned
Jericho Parents, an organization that
opposes a planned homeless shelter,
and took it upon herself to lead an
advocacy arm in the local community.
The organization, which has quickly
risen to become one of Nassau County’s
largest civic groups, she says, has
made headlines and been seen as a
local leader on issues facing Jericho
families. Jennifer has largely been
the voice of the organization, booking
media appearances in many of the region’s
largest and most well respected
news outlets.
Jennifer and Leo have also taken up
philanthropic endeavors through
their business, such as leading the
region’s efforts to support the United
States Marine Corps Toys for Tots,
and they conduct toy drives to ensure
that all local families have toys for
the holidays. The Vartanovs’ efforts
helped land Jennifer the role of honorary
chairperson of the organization
and their toy drive within the Jericho
Community yielded one of the region’s
most successful efforts for Long Island’s
underserved communities.
“Giving back to my community has
opened my eyes to so much,” said Jennifer.
“I am thankful that I have the
ability to be part of this wonderful
community and give back as much as
I can.”
And so the Vartanovs are just getting
started, united as ever in family, in
business, in philanthropy, and in
community. As luck would have it,
they won more than they gambled for
at the Taj Mahal.
"The little credit card machine opened my eyes to
a whole new business world. I quickly
learned that there was a new world for
us beyond the magnetic strip,” Leo said.
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