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Repay Holdings (NASDAQ: RPAY), a leading integrated payment solutions provider, has been recognized as WEX's Partner of the Year and inducted into the WEX Circle of Excellence at the WEX 2023 Community Awards. This accolade highlights REPAY's innovative approach and collaboration with WEX in providing next-generation payment technology for B2B vendor payments.
REPAY's automated vendor payment platform, which includes virtual card issuance and processing support from WEX, offers simplicity and efficiency, enhancing AP processes while ensuring security against payment fraud. REPAY's EVP, Darin Horrocks, emphasized the importance of this partnership in delivering secure, integrated solutions that drive client growth.
REPAY (NASDAQ: RPAY) has achieved Certified Integration Partner status with Corelation, a core processor for credit unions. This partnership allows REPAY to integrate with Corelation's KeyStone platform, simplifying operations and streamlining payment processing for credit unions. The certification ensures that REPAY meets best practices and security standards via the KeyBridge API. This integration allows credit union members to make omni-channel payments through online portals, text, mobile, and IVR, with real-time updates on loan and payment information. Enhanced security measures, such as payment tokenization and encryption, are also part of this offering.
Repay Holdings (NASDAQ: RPAY) reported a 9% growth in gross profit and 11% organic gross profit growth in Q1 2024. Adjusted EBITDA increased by 15%, with net cash provided by operating activities up by 19%. The company's Q1 results showcase a strong start to the year, driven by growth across Consumer and Business Payments verticals. REPAY reiterated its 2024 outlook, expecting an acceleration in free cash flow conversion.
