REPAY Recognized as WEX Partner of the Year

Rhea-AI Summary

Repay Holdings (NASDAQ: RPAY), a leading integrated payment solutions provider, has been recognized as WEX's Partner of the Year and inducted into the WEX Circle of Excellence at the WEX 2023 Community Awards. This accolade highlights REPAY's innovative approach and collaboration with WEX in providing next-generation payment technology for B2B vendor payments.

REPAY's automated vendor payment platform, which includes virtual card issuance and processing support from WEX, offers simplicity and efficiency, enhancing AP processes while ensuring security against payment fraud. REPAY's EVP, Darin Horrocks, emphasized the importance of this partnership in delivering secure, integrated solutions that drive client growth.

Positive

• REPAY recognized as WEX Partner of the Year.
• Inducted into WEX Circle of Excellence.
• Acknowledged for innovative approach in B2B payments.
• Partnership with WEX enhances payment security via virtual cards.
• Positive client impact through secure and integrated vendor payment solutions.

Negative

• No specific financial figures or growth metrics provided in the PR.
• Lacks detailed data on how the recognition will impact future revenue or business performance.

Leading Integrated Payment Solutions Provider Acknowledged as a Best-in-Class Partner

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced it has been awarded Partner of the Year and inducted into the WEX Circle of Excellence at the WEX 2023 Community Awards. Chosen from an impressive pool of WEX technology partners, REPAY has been recognized as a best-in-class fintech partner in the corporate, embedded, and API-facilitated business-to-business (B2B) payments category. This is a result of REPAY’s innovative approach to the payment experience and ongoing collaboration with WEX to provide next-generation payment technology that accommodates the modern demands and rapidly changing landscape of B2B vendor payments.

REPAY partners with WEX to provide virtual card issuance and processing support for REPAY’s automated vendor payment platform, providing simplicity and efficiency to AP processes. One of the main threats to the payment industry today is payment fraud, and REPAY prides itself on making enterprise clients feel secure in their integrated payment solution. With WEX as their primary issuer of virtual card services, REPAY clients benefit from the added security provided by virtual cards, including one-time use and customizable amount and approval limits.

“We are honored by the distinction of WEX’s Partner of the Year Award for Corporate Payments and our induction to their Circle of Excellence. This reaffirms our dedication to top-notch payment solutions and showcases the strength of our partnership with WEX,” said Darin Horrocks, EVP, Business Payments, REPAY. “Together with WEX, we are committed to delivering secure, integrated vendor payment solutions that mitigate fraud threats and drive growth for our clients.”

“WEX is proud to collaborate with REPAY, as we share the same commitment to simplifying business management operations with secure, cutting-edge technology,” said Robert Deshaies, WEX’s Chief Operating Officer, Americas. “Together, we empower businesses with innovative solutions, ensuring they navigate today’s complex landscape with confidence and ease.”

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. For more information, visit www.repay.com.

About WEX

WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521160987/en/

Investor Relations Contact for REPAY:

IR@repay.com



Media Relations Contact for REPAY:

Kristen Hoyman

khoyman@repay.com



Media Contact for WEX:

Julie Lydon, 415-816-9397

Julie.Lydon@wexinc.com

Source: Repay Holdings Corporation

FAQ

What recent award did REPAY (RPAY) receive?

REPAY was recognized as WEX Partner of the Year and inducted into the WEX Circle of Excellence at the WEX 2023 Community Awards.

What does REPAY's award signify?

The award signifies REPAY's innovative approach and collaboration with WEX in providing advanced B2B payment technology.

How does REPAY enhance payment security?

REPAY enhances payment security through virtual card issuance and processing support, which include one-time use and customizable amount and approval limits.

What benefits do REPAY clients gain from the partnership with WEX?

REPAY clients benefit from simplified and efficient AP processes and increased security against payment fraud, thanks to virtual cards provided by WEX.

Who commented on REPAY's recognition and what was said?

Darin Horrocks, EVP of Business Payments at REPAY, stated the award reaffirms their dedication to top-notch payment solutions and strong partnership with WEX.