REPAY Provides Integrated Accounts Payable Automation for HelloGM

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) has announced a collaboration with HelloGM to provide integrated accounts payable solutions for the hospitality sector. This partnership enables hospitality operators to streamline vendor payments across multiple properties, reducing reliance on manual check processing and associated fraud risks. The integration features enhanced payment automation through HelloGM's new Accounts Payable option, which aims to optimize operational efficiency and save resources. HelloGM's analytics platform processes substantial transaction data, further emphasizing the strategic value of this alliance for both companies.

Positive

• Collaboration with HelloGM enhances REPAY's market positioning in the hospitality sector.
• Streamlined accounts payable processes reduce manual errors and risks associated with traditional payment methods.
• Integration enables access to comprehensive payment solutions, driving operational efficiencies.

Negative

• None.

REPAY will power accounts payable payments for HelloGM’s hotel and hospitality clients

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced a new integration with HelloGM, an analytics and automation platform that centralizes hospitality performance data and operations from property management, accounting, and labor services as well as guest review sites. The integration will enable hospitality operators, owners and executives that use HelloGM to streamline accounts payable processes and securely pay vendors and suppliers for multiple properties.

Hospitality groups and property management companies that utilize the HelloGM data analytics platform will have access to REPAY’s comprehensive payment solution with robust accounts payable automation capabilities. By streamlining outbound vendor payments, hoteliers can seamlessly pay suppliers across multiple properties without the stress or risk associated with traditional paper checks and manual processing of payments. Additionally, they can significantly reduce their exposure to fraud in multiple ways, including by utilizing virtual cards which are designated for single use and loaded with the exact amount of money needed for payment.

“At REPAY, we pride ourselves on creating exceptional client experiences, using payment processing and automation to help businesses digitize payments, realize operational efficiencies and drive better results,” said Darin Horrocks, EVP, Business Payments, REPAY. “Our integration with HelloGM does just that; with a single integration, hoteliers will be able to save on personnel and financial resources through automated backend vendor and supplier payments.”

The integrated payment solution provides a key function within HelloGM’s recently launched Accounts Payable feature, enabling subscribers to define and manage a seamless workflow through HelloGM.

"REPAY has established itself as a leading payment processing solution in the market today,” said Dhaval Chokshi, Co-Founder and CEO at HelloGM. "Through our robust partnership, we are committed to delivering the industry leading accounts payable solution for hospitality through one platform."

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 HelloGM

As the centralized data analytics and automation platform for more than 1,000 U.S. hotels, HelloGM empowers hospitality operators and executives to automate time-consuming tasks, eliminate human error and maximize profitability through one platform. The upstart Software as a Service company has detected more than $6.1 million in discrepancies since the platform launched and analyzes upwards of $2.4 billion in guest folios annually.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005009/en/

Investor Relations Contact for REPAY:

repayIR@icrinc.com

Media Relations Contact for REPAY:

Kristen Hoyman

khoyman@repay.com

Media Relations Contact for HelloGM:

Ngoc Thach

ngoc.thach@snnanalytics.com

Source: Repay Holdings Corporation

FAQ

What is the recent partnership announcement between Repay Holdings and HelloGM?

Repay Holdings announced a collaboration with HelloGM to offer integrated accounts payable solutions for the hospitality industry.

How will the integration with HelloGM benefit hospitality operators?

The integration will streamline vendor payments, reduce manual processing risks, and enhance operational efficiencies.

When was the partnership between Repay and HelloGM announced?

The partnership was announced on February 6, 2023.

What is the stock symbol for Repay Holdings?

The stock symbol for Repay Holdings is RPAY.