XBP Global Partners with the New York City Department of Finance for Enhanced Parking Violation Payment Processing

Rhea-AI Summary

XBP Global (NASDAQ: XBP) announced a partnership with the New York City Department of Finance to provide Lockbox payment processing for parking violation tickets, with an initial term of six years starting Oct 20, 2025. The company says its platform will streamline transactions, reduce cycle time, expand payment options, and increase security for residents. XBP Global highlighted its global footprint—20 countries, ~11,000 professionals, and > 2,500 clients—as supporting capacity for public‑sector work. The release includes standard forward‑looking disclaimers and a list of risks, and provides investor and media contact details.

Positive

• Six‑year contract with New York City Department of Finance
• Expanded payment options and reduced processing cycle time promised
• Global footprint: 20 countries and ~11,000 professionals
• 2,500+ clients including Fortune 100 relationships

Negative

• No contract value or revenue guidance disclosed for the NYC deal
• Forward‑looking risks include failure to meet Nasdaq listing standards

Insights

Payments Systems Strategist

XBP Global won a six-year NYC Department of Finance lockbox contract to modernize parking ticket payments, a clear commercial win.

As a payments vendor, XBP Global will supply Lockbox Services to the New York City Department of Finance to process parking violation ticket payments. The product replaces or augments existing payment workflows to reduce cycle time, expand payment options, and increase transaction security. The contract resulted from a competitive bid and has an initial term of six years, giving the company a multi-year revenue horizon tied to a large municipal payment volume.

Execution depends on timely integration with the department's systems, meeting service-level requirements, and maintaining secure transaction handling. Risks include potential implementation delays, operational disruptions during cutover, and contract performance clauses; the release flags these operational dependencies but does not disclose fees, margins, or guaranteed volumes. Monitor implementation milestones, SLA acceptance, and any published processing metrics over the next 6–18 months to assess realized benefits and revenue recognition.

IRVING, Texas, Oct. 20, 2025 (GLOBE NEWSWIRE) -- XBP Global Holdings, Inc. (“XBP Global” or “the Company”) (NASDAQ: XBP), a workflow automation leader that leverages decades of industry experience, global footprint and agentic AI to rethink business process automation and digital transformation, has partnered with the New York City Department of Finance to deliver advanced payment processing solutions for parking violation tickets. The department selected XBP Global through a competitive bidding process to augment its payment processing capabilities with XBP Global’s Lockbox Services. The Company’s platform will be utilized to streamline financial transactions for parking violation tickets, thereby enabling the department to reduce cycle time and provide faster and more user-friendly payment experiences.

This strategic partnership will deliver a range of tangible improvements for residents of New York City, including more payment options, reduced processing times, and increased security and has an initial term of six years.

"We are honored to partner with the New York City Department of Finance to enhance and simplify payment processing systems for the Parking Violations Program,” commented Lakshmi Narayanan, President – Bills and Payments of XBP Global, adding, “our solutions are designed to simplify transactions, strengthen security, and improve the overall customer experience with reduced cycle time for all consumers. This win showcases our commitment to pioneering innovation in the public sector. With our new brand and global footprint, we expect to pursue similar opportunities going forward."

This new partnership enables a key Public Sector agency and the people it serves to benefit from secure, efficient, and modern digital payment technologies. Working in close partnership with the Department of Finance, XBP Global will continue to help set new standards for convenience and accessibility in the city's payment services.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. These statements include financial forecasts, projections, and other statements about future operations, financial position, business strategy, market opportunities, and trends. Forward-looking statements can often be identified by terms such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast,” or similar expressions. This press release includes forward-looking non-GAAP financial measures, such as projected Adjusted EBITDA and Net Debt. Adjusted EBITDA is defined as net income excluding interest, taxes, depreciation, amortization, and certain non-recurring items, while Net Debt is total debt minus cash and cash equivalents. The Company cannot reconcile these measures to their most comparable GAAP metrics — net income and total debt — without unreasonable effort, due to challenges in forecasting future interest, taxes, depreciation, and non-recurring items. These measures are provided for informational purposes only and should not be considered substitutes for financial measures prepared in accordance with GAAP. All forward-looking statements are based on estimates, forecasts, and assumptions that are inherently uncertain and subject to risks and factors that could cause actual results to differ materially. These include, but are not limited to: (1) risks related to the acquisition, including the inability to realize anticipated benefits, disruptions to operations, and costs associated with the transaction; (2) legal proceedings; (3) failure to meet Nasdaq listing standards; (4) competition and market conditions; (5) economic, geopolitical, and regulatory changes; (6) challenges in retaining clients, employees, and suppliers; and (7) other risks detailed in XBP Europe’s filings with the SEC, including the “Risk Factors” section of its Annual Report on Form 10-K for 2025, filed on March 19, 2025, and the proxy statement for the 2025 annual meeting. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. XBP Global undertakes no obligation to update these statements, except as required by law. There is no assurance that XBP Global or its subsidiaries will achieve the results projected in these statements.

About XBP Global

XBP Global is a multinational technology and services company powering intelligent business workflows for organizations worldwide. With a presence in 20 countries and approximately 11,000 professionals, XBP Global partners with over 2,500 clients, including many of the Fortune 100, to accelerate digital transformation, elevate customer experiences, and drive measurable outcomes.

Our proprietary platforms, AI-driven automation, and deep domain expertise across industries such as banking, healthcare, insurance, utilities, and the public sector enable clients to modernize their operations and strengthen financial performance. By combining innovation with execution excellence, XBP Global helps businesses reimagine how they work, transact, and thrive in a connected world.

For more information and insights, visit www.xbpglobal.com and follow us on social:
X: https://x.com/XBPGlobal
LinkedIn: https://www.linkedin.com/company/xbpglobal/

The information posted on XBP Global’s website and/or social media accounts may be deemed material to investors. Accordingly, investors, media, and others interested in XBP Global should monitor its website and social channels in addition to press releases, SEC filings, and public announcements.

Investor Contacts: David Shamis, investors@xbpglobal.com | Media Contacts: Srushti Rao, press@xbpglobal.com

FAQ

What did XBP (NASDAQ: XBP) announce on October 20, 2025 about New York City?

XBP announced a partnership to provide Lockbox payment processing for parking violation tickets with an initial six‑year term.

How long is the XBP agreement with the New York City Department of Finance?

The agreement has an initial term of six years starting from the Oct 20, 2025 announcement.

Will the XBP‑NYC partnership change parking ticket payment options for residents?

Yes; XBP says the platform will enable more payment options, faster processing, and increased security for residents.

Did XBP disclose how much the New York City contract is worth?

No; the press release did not disclose the contract value or expected revenue impact.

What scale and resources does XBP Global cite to support public‑sector contracts?

XBP cites operations in 20 countries, approximately 11,000 professionals, and over 2,500 clients.

Are there investor risks mentioned in the XBP announcement about the NYC deal?

Yes; the release includes forward‑looking disclaimers and lists risks such as acquisition risks and potential Nasdaq listing standard issues.