REPAY Provides Accounts Payable Automation to Atlanta’s Shepherd Center

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) has partnered with Shepherd Center, a not-for-profit hospital in Atlanta, to implement its accounts payable automation and vendor payment solution. The collaboration aims to enhance operational efficiency, simplify vendor payments, and save time through a robust payments platform. Shepherd Center anticipates earning rebates via virtual card payments and improving the AP teams' experience. This partnership is expected to enable Shepherd Center to focus more on patient care while streamlining payment processes.

Positive

• Partnership with Shepherd Center enhances market presence in healthcare sector.
• Implementation of AP automation expected to improve operational efficiencies.
• Potential for earning rebates through virtual card payments.

Negative

• None.

REPAY’s technology will enable Shepherd Center to improve operational efficiencies and create a better experience for internal AP teams and hospital vendors

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically integrated payment solutions, today announced that Shepherd Center, an Atlanta-based private, not-for-profit hospital, will implement REPAY’s accounts payable (AP) automation and vendor payment solution.

The solution will provide Shepherd Center with access to a robust payments platform that automates and simplifies vendor payments. Through REPAY’s technology and comprehensive vendor enrollment program, Shepherd Center will be able to improve operational efficiencies, save valuable time, earn rebates through virtual card payments, and create a better overall experience for its internal AP teams and the many vendors and suppliers who partner with Shepherd Center.

REPAY’s AP platform streamlines outbound vendor payments, integrating directly to clients’ existing accounting systems and enabling businesses to digitize and optimize vendor payments to reduce the costs and resources associated with manual, paper-based AP processes.

“Our mission is to help businesses across sectors embrace digital payments and make the payment experience more convenient for their employees and their suppliers,” said Darin Horrocks, EVP, B2B, at REPAY. “By automating the AP process, the team at Shepherd Center can put more resources toward patient care and will no longer need to rely on legacy systems and paper checks to power AP operations.”

“We are thrilled to be working with the team at REPAY to improve operational workflows and streamline payments to our vendors and suppliers. REPAY’s reputation of providing digital payments to other organizations in the healthcare industry made this an easy decision, and we’re looking forward to working together,” said John McDaniel, Director of Finance at Shepherd Center.

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.

About Shepherd Center

Shepherd Center, located in Atlanta, Georgia, is a private, not-for-profit hospital specializing in medical treatment, research and rehabilitation for people with spinal cord injury, brain injury, multiple sclerosis, spine and chronic pain, and other neuromuscular conditions. Founded in 1975, Shepherd Center is ranked by U.S. News & World Report among the top 10 rehabilitation hospitals in the nation. In its more than four decades, Shepherd Center has grown from a six-bed rehabilitation unit to a world-renowned, 152-bed hospital that treats more than 740 inpatients, nearly 280 day program patients and more than 7,100 outpatients each year in more than 46,000 visits.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115005005/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 latest partnership announcement for RPAY?

Repay Holdings announced a partnership with Shepherd Center to implement its accounts payable automation and vendor payment solution.

How will the partnership with Shepherd Center benefit RPAY?

The partnership is expected to enhance RPAY's market presence and streamline payment processes, potentially increasing revenue.

What is the goal of REPAY's accounts payable solution for Shepherd Center?

The goal is to improve operational efficiencies and simplify vendor payments, allowing the hospital to focus more on patient care.

When was the partnership between RPAY and Shepherd Center announced?

The partnership was announced on November 15, 2022.

What stock symbol is associated with Repay Holdings Corporation?

Repay Holdings Corporation is listed under the stock symbol RPAY.