Usio to Provide the Integrated Payment Platform for a Leading Web-based ERP ISV with Annual Credit Card Processing Volume Exceeding $1 Billion
Usio announced a new agreement to integrate its payment technology into a leading web-based ERP provider's software. This integration is expected to migrate over $1 billion in credit card transactions to Usio's platform, potentially generating over $20 million in annual recurring revenue. The ERP provider caters to diverse industries, including janitorial, home improvement, and governmental services. Usio's CEO, Louis Hoch, emphasized that this partnership underscores the value of Usio's PayFac-in-a-Box solution, its flexible integration capabilities, and the expected revenue boost starting in late 2024, with significant impact by 2025.
- Potential to generate over $20 million in annual recurring revenue.
- Integration with an ERP provider managing $1 billion in transactions annually.
- Usio's payment solution to be fully integrated into the ISV's software.
- Expected increase in revenue beginning late 2024, more significantly in 2025.
- The ERP provider serves a diverse range of industries, increasing user base.
- Usio's payment technology offers flexibility and ease of integration.
- Enhanced competitive position in the market due to this significant deal.
- Revenue from the new integration expected only by late 2024, with more impact in 2025.
- Dependence on timely migration of merchants to realize full revenue potential.
- Any delays in integration or merchant boarding could impact revenue projections.
Insights
Usio's collaboration with a leading ERP provider, which processes over
The integration of Usio's PayFac-in-a-Box into the ERP software of the ISV involves sophisticated technology that allows for seamless electronic payment processing. This PayFac-in-a-Box solution simplifies the payment process for merchants by integrating directly into their existing ERP systems. For those unfamiliar, a PayFac (Payment Facilitator) model streamlines the payment process for smaller merchants by handling the payment infrastructure and compliance. This can significantly reduce operational complexity and costs for merchants. The technology's flexibility and ease of use are particularly vital, as they facilitate quicker adoption rates. Considering the technical requirements, the successful deployment will require robust IT infrastructure and support from Usio to ensure smooth integration and minimal disruption for the ERP provider's customers.
From a market perspective, Usio's deal with the ERP ISV positions it well in several high-growth verticals such as janitorial & sanitation, home improvement and domestic services. These sectors, while not traditionally tech-heavy, are increasingly adopting digital solutions to streamline operations. The ISV's extensive base of small to enterprise-level businesses provides a broad market for Usio's payment solutions. Additionally, the projected $20 million in annual recurring revenue indicates a substantial market opportunity. It's important for investors to consider the competitive landscape; Usio’s ability to differentiate itself through superior customer service and a flexible payment platform will be key to retaining and expanding its customer base in these segments.
Processing Volume Represents a Potential
ISV integrating Usio’s PayFac-in-a-Box into their ERP software, with merchants expected to migrate onto Usio platform throughout 2024
Louis Hoch, President and Chief Executive Officer of Usio, said, “We welcome our new ISV and its customers to the Usio payment network. This is a significant competitive win as our new ISV has customers that process over
Hoch continued, “This new relationship reflects the strong value proposition that our PayFac-in-a-Box payment solution offers to independent software vendors (ISVs). Our technology allows ISVs to easily integrate flexible payment capabilities into their applications enabling their merchants to process all manner of electronic payments. Ease of use, the strength of our payment network, our ’white glove‘ customer service, and the flexibility of our solution were all factors that were heavily in our favor.”
The ISV provides ERP software for thousands of merchants, who generate approximately
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, integrated software vendors and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients through its unique payment facilitation platform as a service. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the card issuing sector. Usio is headquartered in
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Paul Manley
Senior Vice President, Investor Relations
paul.manley@usio.com
612-834-1804
Source: Usio, Inc.
FAQ
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