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paymentus.com

Founded Year

2004

Stage

IPO | IPO

Total Raised

$21.5M

Date of IPO

5/26/2021

Market Cap

1.59B

Stock Price

13.14

About Paymentus

Paymentus (NYSE: PAY) is a bill payment service provider that is commercializing a patent-pending, electronic payments solution that enables billing companies, banks, and payment portals to offer payments and a breadth of electronic payment methods (credit cards, debit cards, and eChecks) for both one-time and recurring bill payment transactions.

Paymentus Headquarter Location

18390 NE 68th St. Suite 400

Redmond, Washington, 98052,

United States

888-440-4826

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Research containing Paymentus

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Paymentus in 1 CB Insights research brief, most recently on Jan 23, 2020.

Expert Collections containing Paymentus

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Paymentus is included in 2 Expert Collections, including Conference Exhibitors.

C

Conference Exhibitors

5,302 items

F

Fintech

7,440 items

US-based companies

Paymentus Patents

Paymentus has filed 16 patents.

The 3 most popular patent topics include:

  • Payment systems
  • Social networking services
  • Commerce websites
patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/1/2021

5/24/2022

Payment systems, Acoustics, Payment service providers, Banking technology, Natural language processing

Grant

Application Date

6/1/2021

Grant Date

5/24/2022

Title

Related Topics

Payment systems, Acoustics, Payment service providers, Banking technology, Natural language processing

Status

Grant

Latest Paymentus News

Payveris Introduces Loan Payments for Financial Institutions to Offer Customers Integrated Real-Time Payment Methods & Channels

Jun 20, 2022

Loan Payments is built by Paymentus, recognized by Aite-Novarica as the “Best in Class” industry leader for Biller Direct EPPP solutions New Payveris service is powered by the Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment and money movement capabilities in the market Payveris, a division of Paymentus, launched Loan Payments, a cutting-edge loan and debt repayment service with the widest array of real-time payment methods and channels available on the market. Loan Payments® is designed to help financial institutions meet rising consumer demand for payment methods and channels that are speedy, convenient and secure all while reducing operational overhead, fostering better customer engagement and loyalty. An Aite-Novarica Group survey from 2021 found that 89% of consumers want more real-time payment options from their digital banking experience. As consumers enjoy more payment choices, speed and convenience in just about every other aspect of their financial lives, they expect the same from their loan payment servicers — and aren’t satisfied by the status quo from financial institutions. In fact, a recent J.D Power study found that non-bank loan servicers saw a 17% increase in customer satisfaction, while banks only saw a 4% increase. “When financial institutions make it complicated to accept and receive payments through coupon books or legacy loan payment systems, borrowers are less likely to consider them for their next loan,” explained Payveris Chief Innovation Officer Marcell King. “Providing choice, speed and autonomy is no longer a bonus, but a baseline expectation for consumers. Financial institutions must seriously rethink their loan payment experience and meet customers where they are, and Loan Payments® can help them get there. Whether that’s an auto loan, a personal loan, or a mortgage, the days of consumers using a coupon book have passed.” With Loan Payments®, financial institutions can deliver a true omni-channel experience that matches what consumers have come to expect from shopping or paying bills. Payment methods supported by Loan Payments® include cash, debit card and e-check/ACH. Loan Payments® also empowers consumers to choose their preferred payment channel, whether it’s online, mobile, text, PayPal app, Amazon Alexa, Walmart, or directly at their bank or credit union. In addition to more convenience and flexibility, Loan Payments® gives financial institutions’ customers more control over how they automate and schedule payments, and the ability to spread their payments across multiple methods at once. Reducing overhead & driving consumer loyalty Financial institutions that offer dated loan payment experiences — in which non-deposit customers can’t easily pay their loan bill online, make payments using a variety of sources, or have their payments post in real-time — accrue more overhead costs in the form of inbound phone calls. With a sub-optimal loan payment experience, financial institutions are practically inviting these costly interactions with their customer service representatives. This problem only gets worse with scale. WSECU, a Payveris customer since 2020, is one of the first financial institutions with plans to roll out Loan Payments®. “Our first priority is to improve the loan payment experience for members, making it easier and providing them more options,” said Melissa Wolff, Vice President, Operations Support and Payment Services at WSECU. “Payveris is helping us do that, and that alone is a big win. But there is also more we gain, including the operational efficiencies that come from no longer managing disparate processes. Now, everything is centralized into one payment processing system, regardless of which option best meets the needs of an individual member.” Financial institutions also stand to gain another avenue in which they can drive customer engagement and loyalty. “Customer loyalty traditionally is not a priority for loan servicing — your borrower is in debt to you, so it’s not like they can easily take their money elsewhere,” added King. “But in today’s lending landscape, financial institutions that succeed in payment modernization solidify relationships with customers and position themselves to convert indirect borrowers into full-fledged customers, pursue more cross-selling opportunities, and raise a customer’s total lifetime value. Loan Payments® was first developed by Payveris’ parent company Paymentus, recognized by Aite-Novarica as the “Best in Class” industry leader for Biller Direct EPPP solutions. The solution is powered by the Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment, and money movement capabilities in the market. The Instant Payment Network® is currently trusted by numerous Fortune 500 companies, with more than 10 million consumers relying on it to make payments. Other key benefits Loan Payments® offers include: Guest Pay – Most financial institutions do not have a guest pay option, creating friction within the loan repayment experience for indirect customers. Loan Payments® solves this pain point, improving the user experience for the consumer while helping financial institutions convert indirect loan members into primary account holders. Alerts & Notifications – Loan Payments® has intelligent alerts and notifications sent directly to borrower’s mobile devices to help them stay on top of their loan payments. Compliant & Secure – Level 1 PCI Compliant EBPP platform ensures electronic payments are secure and meet industry standards, offloading the burden and cost of compliance. Secure Service® – Cohesive call center experience that eliminates PCI scope, minimizing risk for financial institutions and protecting customer’s payment information when sharing details through a mobile phone channel.

Paymentus Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
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Paymentus Rank

  • When was Paymentus founded?

    Paymentus was founded in 2004.

  • Where is Paymentus's headquarters?

    Paymentus's headquarters is located at 18390 NE 68th St., Redmond.

  • What is Paymentus's latest funding round?

    Paymentus's latest funding round is IPO.

  • How much did Paymentus raise?

    Paymentus raised a total of $21.5M.

  • Who are the investors of Paymentus?

    Investors of Paymentus include Accel-KKR, GrowthWorks and Relay Ventures.

  • Who are Paymentus's competitors?

    Competitors of Paymentus include Plastiq and 1 more.

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