Shares of Shift4 Payments (NYSE: FOUR) shot up over 10% this week, according to data from S&P Global Market Intelligence. The payment processor with a focus on hospitality and entertainment grew its revenue and earnings at a fast clip yet again in the second quarter. With its acquisition and international expansion strategy, the company is hoping to keep up this impressive growth in the coming years.

As of 3:17 p.m. ET on Friday, Aug. 16, shares of Shift4 Payments are up 13.9% this week and 41.5% over the last year. Here's why.

Shift4 Payments processes billions of dollars' worth of payments for restaurants and entertainment venues. The digital processor was founded by Jared Isaacman when he was 16 years old (not a typo) in 1999 and has grown throughout the years through organic means and acquisitions. Last quarter, the company processed $40.1 billion in payments, up from $26.8 billion in the same quarter a year ago and $4.2 billion in Q2 of 2020. This 10x growth over just a few years is a 75% compound annual growth rate (CAGR) for payment processing, making it one of the fastest-growing companies in the sector.

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Source Fool.com