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Paymentus Holdings, Inc. reports developments tied to its cloud-based bill payment technology for billers and financial institutions across North America. The company’s omni-channel platform supports electronic bill payment through online, mobile, IVR, call center, chatbot, voice and digital wallet channels, while its Instant Payment Network connects partner platforms and billers to integrated billing, payment and reconciliation capabilities.
Recurring Paymentus news includes quarterly earnings, transaction and biller trends, contribution profit and adjusted EBITDA measures, product announcements such as Billeo and BillWallet, and investor conference participation. Updates also address payment channel adoption, customer experience technology, and platform expansion within electronic bill presentment and payment services.
Paymentus Holdings (NYSE: PAY) has announced a new partnership with GLDS to enhance billing and payment management solutions for broadband customers across North America. This collaboration aims to streamline payment options and expand GLDS' suite of cloud-based customer management tools. Paymentus will provide a broad range of payment methods, including IVR, digital wallets like AmazonPay and PayPal, and retail options through Walmart. The combined solutions are expected to improve customer satisfaction and adoption rates.
On August 11, 2021, Black Dragon Capital announced the sale of Payveris to Paymentus (NYSE: PAY), a leading provider of cloud-based bill payment solutions. Founded in 2011, Payveris has grown significantly under the leadership of Louis Hernandez Jr., enabling over 300 financial institutions to streamline their digital payment systems. The acquisition is seen as a pivotal milestone for Payveris, enhancing its market presence. Black Dragon Capital emphasizes its strategy of leveraging industry insights to drive portfolio growth, maintaining approximately $800M in assets under management.
Paymentus Holdings, Inc. (PAY) reported strong Q2 2021 results with total revenue of $93.5 million, up 30.3% year-over-year. The company processed 64.2 million transactions, marking a 39% increase from Q2 2020. Gross profit reached $28.9 million, with adjusted gross profit at $30.1 million. Paymentus announced the acquisition of Payveris and Finovera, expanding its payment solutions. The company expects 2021 revenue between $378 million and $382 million for 25% to 27% growth.
Paymentus Holdings, Inc. (NYSE: PAY) has signed a definitive agreement to acquire Payveris for approximately $152.2 million, combining cash and stock. This acquisition aims to enhance Paymentus' Instant Payment Network® and expand its services for financial institutions, particularly benefiting over 265 banks and credit unions currently served by Payveris. The collaboration is expected to streamline bill management, increase consumer engagement, and drive market opportunities. The transaction is set to close in Q3 2021, pending customary conditions.
Paymentus Holdings, Inc. (NYSE: PAY) will announce its second quarter financial results after the market close on August 10, 2021. A webcast discussing these results will follow at 2 p.m. PT (5 p.m. ET) the same day, available on the company's investor relations website. Paymentus is recognized for its cloud-based bill payment solutions, serving over 1,300 billers in North America and approximately 16 million users as of December 2020. The Instant Payment Network™ enhances its capabilities for integrated billing and payment services.
Paymentus Holdings announced the pricing of its initial public offering (IPO) of 10,000,000 shares of Class A common stock at $21.00 per share. The underwriters have a 30-day option to buy an additional 1,500,000 shares. Trading is set to begin on the New York Stock Exchange under the ticker symbol PAY on May 26, 2021, with the offering closing expected by May 28, 2021. Prominent financial institutions including Goldman Sachs and J.P. Morgan are leading the underwriting team.