Paya Announces Launch of PayaGov

Rhea-AI Summary

Paya (NASDAQ: PAYA) has launched PayaGov, a suite of payment solutions tailored for government entities. This strategic initiative serves over 2,000 agencies in 24 states, processing more than 8 million payments annually, which generates over $1 billion in revenue for clients. The integration of Paya's existing services aims to enhance efficiency and citizen engagement, positioning Paya as a leader in municipal payments. Leaders from Paya express confidence that this move will drive innovation and growth in the public sector.

Positive

• Launch of PayaGov expands offerings to government agencies, enhancing service delivery.
• Serves over 2,000 government entities, processing more than 8 million annual payments.
• Potential to drive long-term growth and innovation in the public sector.

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• None.

Launch marks the strategic alignment of market-leading solutions and services for government entities

ATLANTA, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Paya (NASDAQ: PAYA), a leading integrated payments and commerce solution provider, today announced the launch of PayaGov, the company’s solutions and domain experts serving government agencies, municipalities, and service providers. The launch is a key milestone in the strategic alignment of Paya’s market-leading government and municipality franchises, and reinforces Paya’s commitment to, and position in, this key vertical.

With the convergence of Paya’s considerable government sector capabilities and over three decades of industry experience, PayaGov is a national leader in the government and municipal payments space. As of year-end 2021, PayaGov serves over 2,000 government agencies and municipalities in 24 states, processing over 8 million payments per year, and delivering over $1 billion in revenue to its government and municipal clients. PayaGov solutions enable clients to accept payments for water and gas utilities, property tax, courts fines, licenses, permits, and other municipal payment needs. Drawing on Paya’s long-standing expertise in this sector, and in partnership with thousands of government agencies, PayaGov solutions focus on driving citizen engagement and adoption, while streamlining workflow and maximizing efficiency for government and municipal workers.

“We are very excited to introduce PayaGov, building on our market-leading franchise and momentum in this key vertical,” said Ben Weiner, chief strategy officer at Paya. “The launch marks the full integration of our First Billing Services and Payment Group brands, consolidating our government solutions and expertise to deliver a stronger value proposition to the market.   This alignment will serve as a catalyst for greater innovation and service for our clients, as well as a foundation for continued long-term growth.”

“As a leading provider of secure payment acceptance for government agencies and service providers, Paya is committed to long-term innovation in the public sector,” said Michele Shepard, Paya’s chief commercial officer. “PayaGov represents our leading payment technologies and decades of domain expertise, helping government agencies across the US address their unique needs, while delivering exceptional payment experiences to their citizens.”

For more information on PayaGov, visit paya.com/gov.

About Paya
Paya (NASDAQ: PAYA) is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. The company processes over $40 billion of annual payment volume across credit/debit card, ACH, and check, making it a top provider of payment processing in the US. Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B end markets. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Paya is headquartered in Atlanta, GA, with offices in Reston, VA, Fort Walton Beach, FL, Dayton, OH, Mt. Vernon, OH, Dallas, TX and Tempe, AZ. For more information about Paya, visit www.paya.com or follow us on Twitter: PayaHQ and LinkedIn: Paya.

Investor Contact:
Matt Humphries, CFA
Head of Investor Relations
470-489-1180
matt.humphries@paya.com

Media Contact:
Emily Bell
212-784-5704
ebell@groupgordon.com

FAQ

What is PayaGov and how does it serve government agencies?

PayaGov is Paya's new suite of payment solutions designed specifically for government entities, helping them process payments efficiently.

How many government agencies does PayaGov serve?

PayaGov serves over 2,000 government agencies and municipalities across 24 states.

What is the annual payment volume processed by PayaGov?

PayaGov processes over 8 million payments each year, generating more than $1 billion in revenue for its clients.

When was PayaGov launched?

PayaGov was officially launched on January 31, 2022.

What is the significance of PayaGov for Paya's business?

The launch marks a strategic alignment of Paya's offerings, aiming to enhance service and drive long-term growth in the public sector.