REPAY Announces Partnership with Remitter

Vertical Markets Focused Payments Processor Pairs Trusted Platform with AI-Driven SMS and Email Communications to Improve Recovery Performance with Enhanced Personalization and Predictability

ATLANTA–(BUSINESS WIRE)–Mar. 26, 2020– Repay Holdings Corporation, (NASDAQ: RPAY) (“REPAY”) a leading provider of vertically-integrated payment solutions, today announced its partnership with Remitter USA Inc., a market leading white-labeled SMS and email communications platform, powered by AI and used by providers in the financial services industry to improve payments recovery performance.

The integration between REPAY and Remitter will further streamline and automate recovery efforts for creditors in the financial services industry by removing the friction and communication gaps associated with the recovery process, engaging consumers with highly personalized, actionable text and emails to facilitate swift collection of missed or late payments. Remitter’s mobile-first technology has proven to significantly increase collections, shorten time-to-payment, reduce costs in a collection environment and improve overall consumer experiences.

Deployed in multiple global markets, Remitter delivers a world-class mobile communications and recovery experience that intelligently adapts to consumers, sending text and emails on the optimum day and time, in the right language and automating follow-up based on individual consumer behavior and natural language processing (NLP). REPAY’s integrated payment processing technology will enable Remitter users in receivables management to seamlessly accept credit and debit cards as well as ACH payments 24/7 through a customer-branded online payment portal.

“As leaders in the payments space, our clients look to us for innovative ways to deliver enhanced payment experiences to their customers. By pairing the deep industry experience and capabilities of REPAY and Remitter, we feel we can bring a new level of AI-driven personalization and predictability to payments – ultimately empowering integrated clients with a distinct competitive advantage in the marketplace,” said Susan Perlmutter, Chief Revenue Officer of REPAY.

“REPAY’s broad range of payment capabilities complements Remitter’s AI-enabled payment recovery platform, which will provide our clients the ability to quickly test and deploy this integrated solution for immediate benefits. Using REPAY and Remitter together proves that you can measurably improve recovery performance while also enriching the customer experience and strengthening brand affinity, so we are excited to bring this to market in with such a strong partner and industry leader,” said Simon Scalzo, Remitter’s Founder.


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 merchants, while enhancing the overall experience for consumers.

About Remitter USA Inc.

Remitter is an innovative communication (text and email) platform using artificial intelligence to deliver world-class, adaptive recovery experiences to creditors’ customers in financial services, utilities, telco and healthcare. At the core of Remitter’s success is its proven ability to lift recovery performance using predictive and heuristic behavioral data to provide consumers with personalized experiences.

Investor Relations Contact for REPAY:

Media Relations Contact for REPAY:
Kristen Hoyman

Media Relations Contact for Remitter:
Dee Gligorevic

Source: Repay Holdings Corporation

Personal Loan Demand and COVID-19. What Now?

Our appetite for borrowing only continues to grow, Coronavirus or not.

Debt levels are rising despite what has been eleven years of favorable economic performance. That was before the Coronavirus outbreak. Borrowing demand, however, is likely to remain strong, if not just a little delayed, despite the forced global slowdown.

Credit cards are a big piece of that debt. After home, car, and student loans, credit cards are the next biggest debt category (see the blue in the chart below). With rising credit card balances comes more interest in debt consolidation loans provided by fintech lenders like Lending Club, Prosper, or SoFi.

 The New York Fed Report on Household Debt 2019

Based on an Experian study from 2019, The Motley Fool reports personal loan debt is the fastest-growing type of debt. Personal loan debt growth of 12% is double the growth of the next biggest category, credit card debt. The average borrower has a $16,000 loan balance.


The need for personal loans and debt consolidation will continue to exist, virus or not. In fact, the demand could grow due to the new economic environment.

Lending Club’s Growth Numbers

Lending Club is one of the lending leaders. Since they are publicly traded, we can get a good snapshot of the industry by looking at their numbers. From their last quarterly earnings report (slide 13), we can see the growth of demand for personal loans quarterly and a year over year (YoY) comparison to 2018.

The loan origination numbers here are in the millions of dollars. Lending Club is averaging between $2.7 billion and $3.35 billion in originations per quarter. The total for 2019 is a little over $12 billion. Not only is that a lot of loans, but the YoY growth is double-digit in four of the past five quarters. People’s appetite for borrowing isn’t slowing down.

And then there’s the virus.

Effects of the Coronavirus

Many U.S. cities are on some form of quarantine or lockdown, meaning people are going out less. As we write this, bars and restaurants are closing or converting to carry-out only service in cities, both big and small. But loans and other debts must continue to be paid unless a temporary suspension of payments goes through Congress.

And while the appetite for borrowing hasn’t changed yet, people’s behaviors have. Those used to going out and making a payment at a bank branch or in some other point-of-sale manner are now staying home. They need to find other ways to accomplish the same tasks.

On the bright side, the internet and digital payment options continue to function properly. If they were going to overload and malfunction, as we’ve seen with the Robinhood stock trading app, we would have seen and heard of it by now.

Digital payment options like online, text or SMS, and interactive voice response ensure customers can make payments virtually, and businesses can get paid. Companies with more available and flexible payment options will be rewarded during this unprecedented time. Your flexibility in this area will increase your cash flow.

Despite having to put new policies in place (like working from home, shorter hours, reduced staff, etc.), you have a business to run. You need to get paid. As a lender, many people are relying on you during this time.

  • Your employees need to get paid, so their lives aren’t disrupted too much more than they already are.
  • Your future borrowers are relying on you for much-needed funds.
  • While perhaps delayed, many of your borrowers are still getting paychecks and want to pay what they have promised. Many are hoping to maintain or improve their credit standing.
  • Your shareholders are looking for smart, careful management of their investments during a difficult time.

Make it easy for borrowers, especially now, by giving them as many options as possible.

As behaviors change due to the virus, there’s a good chance people will be spending less. But that will probably have little to no effect on the demand for personal loans, especially for debt consolidation. Odds are demand will stay strong. When things normalize, people will want to borrow. Flexible payment systems are one way, along with solid underwriting and portfolio management, that you can continue to originate quality loans and keep your business running smoothly.

Why Credit Unions Should License Payment Technology

Does your credit union use technology to make things easier for members?

Mambu, Salesforce, Microsoft Office 360, Google G Suite, and Leasewave

What do these software companies have in common? Two things:

  1. Banks and credit unions commonly use them
  2. The software is licensed, not purchased

These software companies are doing everything from providing email services to managing customer data and lease transactions to serving as core banking systems. And they do it all in the cloud through software licensing, commonly referred to as SaaS or software as a service.

Banks and credit unions have been moving towards the cloud from on-premise software more slowly than other industries. This Credit Union 2.0 tech trends article, however, places cloud as one of the seven areas expected to grow in the future. The other six areas are:

  • Digital Transformation
  • Fintech Partnerships
  • Marketing Automation
  • Analytics
  • Artificial Intelligence (AI) & Machine Learning
  • IT Security
Payments: Fast, Convenient, and Profitable for a Credit Union

Do you know what technology hasn’t changed that much for credit unions? Payment technology. The basic premise is still there. Members want an easy way to pay for services and pay back loans.

Does your credit union make this easy for members?

Payment services represent a massive opportunity for credit unions to engage with members and exceed their service expectations.

Payment System Technology

Until the chip and pin cards and EMV (Euro Mastercard and Visa) hit the U.S. a few years ago, there had been virtually no change in payment technology. Visa and Mastercard are still the leading card brands controlling much of the standard operating procedures and interchange rates when it comes to card transactions. All this is still true.

But now, most of the advances in payment systems are in security, automation, and the use of AI.

Since cloud can mean enhanced security and PCI compliance, there’s no reason not to utilize third-party payment technology platforms. Credit unions can take a modern fintech-based payment system and license its use without having to develop and maintain these advanced tech systems for themselves.

Why build the infrastructure of a new payment system from scratch when the latest and most secure payment technology advancements are at your fingertips and could be licensed and implemented in a matter of weeks?

Licensing for Credit Unions

Some payment companies, including REPAY, let you license their suite of payment technology products, including online payment portals, text pay platforms, IVR (Interactive Voice Response) / phone pay, and mobile apps. These solutions can be customized for each credit union, so the look, feel, and voice of the credit union can be captured. Often, the members will never know the payment platforms they are accessing belong to anyone other than their credit unions.

Offering convenient and modern payment services can give credit unions a competitive advantage over smaller or more conservative financial institutions. Utilizing specific channels, such as text pay and mobile apps, can increase the number of touchpoints credit unions have with their members, thereby promoting engagement and strengthening the member – credit union relationship. There is no reason why credit unions can’t offer the same payment options the big banks do.

With core banking software, credit unions can often pick which modules they want to use. You can license the ones most applicable to your credit union without having to buy things you don’t need. Licensing of payment systems allows this, too.  Your credit union will stay at the forefront of technology, maintain the highest-level security, and give the greatest flexibility and convenience to your members while only paying for the parts that you use.

Is your payment system in need of an upgrade? If it is, or you want to see how some of the best payment software in the industry works, contact us today for a demo.