REPAY Expands Partnership with Hotel Investor Apps to Include Accounts Payable Automation

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) has expanded its partnership with Hotel Investor Apps (HIA) to enhance accounts payable and accounts receivable payment automation capabilities. This integration enables HIA properties to streamline vendor payments, increasing efficiency and transparency while minimizing fraud risks. By utilizing REPAY's technology, businesses can significantly reduce costs associated with manual processes. REPAY aims to simplify transactions for clients, maximizing revenue and resource efficiency.

Positive

• Expansion of partnership with Hotel Investor Apps enhances payment automation capabilities.
• Streamlined vendor payment processes increase efficiency and transparency.
• Reduced exposure to fraud risks through customizable controls.
• Potential reduction in costs associated with manual payment processes.

Negative

• None.

REPAY will power Hotel Investor Apps’ accounts payable and accounts receivable payment automation capabilities

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced the expansion of its integration with Hotel Investor Apps (HIA), an ERP & accounting solution with unique functionality designed for the hospitality industry, enabling HIA properties to streamline accounts payable processes, optimize internal workflows and securely pay vendors and suppliers.

Through the REPAY integration, HIA properties will now have increased access to a comprehensive payment solution with both accounts payable and accounts receivable payment automation capabilities. By streamlining outbound vendor payments, businesses can seamlessly pay vendors with increased efficiency and transparency, while reducing the costs associated with manual processes and traditional paper checks. Additionally, businesses using REPAY’s technology can significantly reduce their exposure to fraud risks by customizing various controls and eliminating the need to provide sensitive credit card or bank account information to hundreds of vendors.

“We’re thrilled to be expanding our partnership with HIA and continue our commitment to making transactions easier for our clients,” said Darin Horrocks, EVP, Business Payments, REPAY. “With a simple addition to our existing integration, HIA users will be able to access AR and AP payment capabilities within one platform, increasing operational efficiencies, maximizing revenue, and reducing overall costs and resources.”

“After working with the REPAY team to enhance our platform’s payment acceptance capabilities, we knew their services would be a great fit for streamlining accounts payable processes,” said Chip Fritsch, COO at Hotel Investors App. “We’re looking forward to expanding our partnership with REPAY and creating an even more robust platform to make our clients’ jobs and lives easier.”

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005791/en/

Investor Relations Contact for REPAY:

repayIR@icrinc.com

Media Relations Contact for REPAY:

Kristen Hoyman

khoyman@repay.com

Source: Repay Holdings Corporation

FAQ

What is the purpose of REPAY's integration with Hotel Investor Apps?

The integration aims to enhance accounts payable and accounts receivable payment automation capabilities for HIA properties.

How does the REPAY integration benefit HIA properties?

It allows HIA properties to streamline vendor payments, increase efficiency, and reduce fraud risks.

What are the financial implications of REPAY's new partnership with HIA?

The partnership may lead to reduced costs and increased revenue for businesses using REPAY's technology.

What company is involved in the press release alongside REPAY?

The press release involves Hotel Investor Apps, which provides ERP & accounting solutions for the hospitality industry.