SpendMend Selects REPAY to be Exclusive Provider of Accounts Payable Technology

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) has entered an exclusive partnership with SpendMend to serve as its accounts payable solution provider for healthcare clients. This collaboration aims to enhance operational efficiency by automating accounts payable disbursements, reducing reliance on paper processes, and increasing financial control and transparency. The partnership is focused on delivering advanced payment solutions that streamline payment processes while improving cost efficiency for hospitals.

Positive

• Exclusive partnership with SpendMend to optimize accounts payable for healthcare clients.
• Enhanced automation capabilities for accounts payable disbursements.
• Increased operational efficiency and transparency for hospitals.

Negative

• None.

REPAY will be the exclusive accounts payable solution for SpendMend’s clients across the healthcare sector

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced an exclusive referral partnership with SpendMend, a leading provider of solutions to optimize the cost-cycle for the healthcare industry.

REPAY will provide SpendMend’s clients with advanced automation capabilities for accounts payable disbursements, enabling healthcare providers and hospitals to streamline their internal operations and benefit from a greater degree of control and transparency over money movement in their organization. REPAY’s AP offering eliminates the need for paper-intensive processes and provides virtual card rebates, maximizing efficiency and minimizing both cost and security concerns.

SpendMend supports cost savings initiatives for hospitals and healthcare systems through the delivery of innovative cost-cycle solutions, insightful transaction analysis, and improved visibility into unseen client data. The company’s mission is to help hospitals improve patient care by leveraging the value created by their solutions.

“As we continue to enhance our footprint in the healthcare industry, working with SpendMend and their roster of hospital clients is an extremely exciting opportunity,” said Darin Horrocks, EVP Business Payments, REPAY. “We look forward to delivering exceptional service and advanced solutions that prioritize secure, seamless supplier and vendor payments for hospitals across the country.”

“The team at REPAY has established a strong reputation for understanding and simplifying the payment processes within the healthcare industry,” said Brett Stuebinger, Senior Vice President, Client Value & Innovation at SpendMend. “We are eager to extend the value of their payment automation solutions to our client population and help hospitals reduce costs while streamlining the overall payment process.”

About SpendMend
SpendMend is a leading provider of tech-enabled, cost-savings solutions in the healthcare industry. Combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to expose the dark data to improve and optimize their costs in meaningful and collaborative ways. SpendMend's mission is to help its clients improve their patient care through innovative cost-savings solutions.

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/20221020005007/en/

Investor Relations for REPAY:

repayIR@icrinc.com

Media Relations for REPAY:

Kristen Hoyman

khoyman@repay.com

Source: Repay Holdings Corporation

FAQ

What partnership did Repay Holdings Corporation announce?

Repay announced an exclusive partnership with SpendMend for accounts payable solutions in the healthcare sector.

How will the partnership with SpendMend benefit healthcare providers?

The partnership will provide advanced automation for accounts payable, improving efficiency and transparency in financial operations.

What is Repay's stock symbol?

Repay's stock symbol is RPAY.

What industry does SpendMend focus on?

SpendMend focuses on providing cost-saving solutions in the healthcare industry.

When was the partnership between Repay and SpendMend announced?

The partnership was announced recently, but the exact date is not specified in the release.