REPAY Provides Seamless Payments for Megasys’ Consumer Lending Platform

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) announced an integration with Megasys, enhancing payment solutions for lenders in the consumer finance sector. This partnership allows Megasys' customers to accept electronic payments via REPAY's omni-channel platform, streamlining loan repayments through ACH and card transactions. The integration promises improved cash flow management and more efficient workflows for lenders, aiming to enhance customer experience.

Positive

• Integration with Megasys enhances payment solutions for lenders.
• Improved customer payment experience through omni-channel platform.
• Enables lenders to manage cash flow and workflows more efficiently.

Negative

• None.

Through the technology integration, lenders will be able to accept and manage installment and auto loan payments on the Megasys system

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) ("REPAY"), a leading provider of vertically-integrated payment solutions, today announced an integration with Megasys, a loan management software system specializing in the consumer finance industry. Through the integration, Megasys’ customer base of consumer and auto lenders will be able to accept electronic payments through REPAY’s omni-channel payment platform.

Utilizing the integration, lenders can provide a more convenient payment experience that allows consumers to make loan repayments via ACH and card through online, mobile, IVR, and text channels at times that work best for them. The seamless data flow between the two systems, along with access to robust data and reporting tools, will enable Megasys’ customers to better manage cashflow and create more efficient workflows and reconciliation processes.

“Megasys’ experience in the consumer finance industry makes them a natural partner for REPAY, as the team deeply understands the importance of a convenient and secure payment ecosystem,” said Susan Perlmutter, CRO at REPAY. “We’re looking forward to helping the company provide the best possible service to consumer and auto lenders across the country and will continue to work diligently to deliver solutions that enhance the payment experience for both businesses and consumers.”

“REPAY’s expertise in the industry and their commitment to providing great service to our customers will add value to our comprehensive product offering,” said Theo Austin, President & CEO at Megasys. “With our new integration, we’re ready to offer a more holistic payment experience for lenders and their customers, while helping businesses improve their bottom line and stay competitive in a challenging climate.”

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/20220524005377/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 recent partnership announced by Repay Holdings Corporation?

Repay Holdings Corporation announced an integration with Megasys to enhance payment solutions for lenders.

How will the integration with Megasys benefit lenders?

The integration allows lenders to accept electronic payments via REPAY’s omni-channel platform, improving the customer payment experience and cash flow management.

What payment methods will be supported through the Megasys integration?

The integration supports loan repayments via ACH and card transactions through online, mobile, IVR, and text channels.

What is the stock symbol for Repay Holdings Corporation?

The stock symbol for Repay Holdings Corporation is RPAY.