REPAY and Visa Canada Announce Partnership to Expand Online Payment Acceptance in Canada
August 13 2019 - 7:00AM
Business Wire
Repay Holdings Corporation, (NASDAQ:RPAY) (“REPAY”) a leading
provider of vertically-integrated payment solutions, and Visa
Canada announced today a strategic partnership that will seek to
expand debit card and online payment acceptance for the
Canadian personal loans
market.
The partnership aims to bring speed and convenience to the
traditional debt repayment process by reducing the complexity of
online payments and lowering the costs associated with debit card
acceptance.
Together, the companies are making it easier for Canadian
lenders and finance companies to accept debit cards as a form of
repayment in a card-not-present environment. Visa has made debit
card payments a viable alternative to cheques and ACH. Paying off
debt with a Visa debit card has major advantages for both the
consumer and for the lender – for consumers, debit card payments
offer zero liability*, making them a safe and secure payment
method. For lenders, it improves customer service by making the
billing and payment experience easy. This is crucial, because the
billing and payment experience is the most influential driver of
customer satisfaction in lending1. REPAY’s payment technology gives
consumers the flexibility to make their loan payments with a debit
card and transforms the online payment process into an easy,
convenient and pleasant experience.
“We believe this initiative
with Visa will bring innovation and convenience to a previously
underserved market,” said John Morris, CEO of REPAY. “Our
omni-channel integrated payment platform removes the
friction from the debt repayment process by giving merchants the
ability to securely accept debit cards 24/7/365 in an automated
setting.”
“We’re excited to partner with REPAY to offer merchants the
opportunity to greatly improve customer service with an easy, safe,
and fast payment solution,” said Brian Weiner, Vice President &
Head of Product, Visa Canada. “Widening the acceptance of Visa
Debit for debt repayment means more convenience for millions of
Canadian Visa Debit cardholders, and efficiencies for lenders and
merchants.”
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 merchants, while
enhancing the overall experience for consumers.
1 Source: AYTM 2017 Debt Repayment Survey, Quantitative research
to understand consumer landscape and preference; Commissioned by
Visa; Target: 400 US, Men and Women, 18+ years old; July 17-18,
2017 *Visa Zero Liability is not applicable to anonymous Visa
Prepaid, Corporate and Commercial cards. Required keeping account
and PIN safe. Other conditions and restrictions apply. Cardholders
should refer to their issuer cardholder documentation for more
details.
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version on businesswire.com: https://www.businesswire.com/news/home/20190813005081/en/
For REPAY Investor Relations: repayIR@icrinc.com
Media Relations: Kristen Hoyman (404) 637-1665
khoyman@repay.com
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