Welcome to our dedicated page for Paymentus Holdings news (Ticker: PAY), a resource for investors and traders seeking the latest updates and insights on Paymentus Holdings stock.
Paymentus Holdings, Inc. (symbol: PAY) is a recognized leader in the field of comprehensive billing and payment solutions. Distinguished by Deloitte as one of the fastest-growing companies in North America, Paymentus provides electronic bill presentment, payment services, enterprise customer communication, and self-service revenue management to an extensive range of billers and financial institutions.
Operating through a secure, omni-channel technology platform, Paymentus offers billers the capacity to send bills via various electronic channels, including web, mobile, and IVR. It also facilitates the receipt of payments through diverse methods such as credit cards, debit cards, eChecks, and digital wallets. Additionally, the platform seamlessly integrates into a biller's core financial and operating systems, ensuring real-time payment reconciliation and enhanced operational efficiency.
A core strength of Paymentus lies in its ability to manage outbound customer communications and empower end-users with a user-friendly self-service portal. This empowers customers to handle their transactions effortlessly, thereby enhancing the user experience and satisfaction.
The Company generates revenue primarily through payment transaction fees processed via its platform. These fees are typically a percentage of the transaction value or a specified fee per transaction, making the business model both scalable and profitable.
Recent achievements of Paymentus include the augmentation of their platform to support payment processing across a wide array of channels such as online, mobile apps, IVR systems, call centers, chatbots, and voice-based assistants. This multi-channel approach ensures flexibility and meets the varied preferences of its customer base.
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Paymentus (NYSE: PAY) has expanded its partnership with Harris Utility Group to integrate its cloud-based billing and payment platform into the SilverBlaze customer engagement platform for utility providers. This enhanced collaboration supports consumer demand for digital payment options, including digital wallets like PayPal and Amazon Alexa. The integration will help utility providers meet customer expectations by offering e-billing and real-time notifications. Both companies have added over 30 new customer accounts, including Santa Monica and Burlington Electric, reinforcing their market position.
Paymentus Holdings, Inc. (NYSE: PAY), a leader in cloud-based bill payment solutions, announced participation in three investor conferences:
- Citi 2021 FinTech Conference on November 17 at 3:45 pm ET
- J.P. Morgan 2021 Ultimate Services Investor Conference on November 18 at 10:55 am ET
- Raymond James 2021 Technology Investors Conference on December 7 at 11:30 am ET
Live webcasts can be accessed via Paymentus' investor relations website.
Paymentus Holdings, Inc. (PAY) reported a 30% increase in revenue year-over-year for Q3 2021, totaling $101.7 million. Contribution profit rose 37% to $40.7 million, driven by a 45% increase in transactions processed, reaching 70.6 million. Net income stood at $0.4 million with a GAAP EPS of $0.00. The company expects full-year revenue between $391 million and $393 million, reflecting year-over-year growth of 29.5% to 30.5%.
Payveris has launched Bill Center℠, a comprehensive payment hub designed to modernize bill payments for financial institutions. This platform integrates with Paymentus' Instant Payment Network® to provide a unified view of all financial obligations, enhancing consumer experiences with various payment options. Research indicates that 74% of consumers prefer centralized bill payment solutions. Bill Center℠ aims to empower banks and credit unions to regain customer engagement in digital payments. The service promises immediate notifications and an improved transaction experience for billers as well.
Paymentus Holdings (NYSE: PAY) will report its third quarter financial results on November 9, 2021, after market close. A webcast discussing these results is scheduled for 2 p.m. PT (5 p.m. ET) on the same day. Paymentus is a provider of cloud-based bill payment solutions, serving over 1,300 billers across North America. Its Instant Payment Network connects numerous billers and partners, facilitating bill payments for approximately 16 million users as of December 2020.
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.
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