Priority Technology Holdings, Inc. (NASDAQ: PRTHU)

Priority Technology Holdings, Inc. is a payments and banking fintech company that provides a connected commerce engine designed to collect, store, lend, and send money. The company delivers full-service merchant acquiring for accounts receivable, automated payables tools for bill payment, and sophisticated treasury management solutions to accelerate cash flow and optimize working capital for its customers. Priority serves approximately 1.8 million customer accounts and processes around $150.0 billion in annual transaction volume while administering roughly $1.7 billion in account balances.

Priority generates revenue primarily from payment processing fees on transactions processed through its platform, which are recurring in nature due to multi-year customer contracts. Additional revenue streams include monthly service fees for its software solutions and interest income generated from the permissible investment of customer account balances it holds. The company serves a diverse customer base across multiple sectors, including independent software vendors (ISVs), institutional clients, and merchants in retail, hospitality, healthcare, real estate, government, utilities, education, non-profit, business-to-business, professional services, and financial institutions.

The company operates through the following segments: Merchant Solutions, Payables and Treasury Solutions.

• Merchant Solutions: This segment provides full-service acquiring and payment-enabled solutions for business-to-consumer transactions, leveraging Priority’s proprietary software platform distributed through independent sales organizations (ISOs), direct sales, and vertically focused independent software vendor (ISV) channels. The segment includes the MX product suite, which comprises MX Connect and MX Merchant. MX Connect offers resellers automated tools for merchant onboarding, underwriting, risk management, client service, and commission processing via a mobile-enabled, web-based interface. MX Merchant delivers core payment processing and business solutions, including MX Insights, MX Storefront, MX Retail, MX Invoice, MX Payables, and ACH.com, enabling merchants to identify consumer trends, implement e-commerce or retail point-of-sale systems, and handle automated clearing house (ACH) payments.

• Payables: This segment provides market-leading accounts payable (AP) automation solutions to corporations, software partners, and financial institutions, including Citibank, Visa, and Mastercard, while improving cash flow through instant access to working capital. The CPX platform serves as a seamless bridge for buyer-to-supplier payments by integrating with buyers’ payment instruction files and enabling payments via virtual card, purchase card, ACH+, dynamic discounting, or check. Priority also integrated the assets of Plastiq, Powered by Priority, LLC, acquired in the third fiscal quarter of 2023, offering Plastiq Pay for credit card payments to suppliers, Plastiq Accept for fee-free credit card acceptance, and the Plastiq Connect API suite for platforms, marketplaces, and enterprise resource planning (ERP) systems to expand payable and receivable payment options within native customer experiences.

• Treasury Solutions: This segment delivers embedded finance and banking-as-a-service (BaaS) solutions to customers seeking to modernize legacy platforms and monetize payment components. It enables independent software vendors (ISVs), third-party integrators, and merchants to leverage Priority’s core payments engine, automated payables platform, or account ledgering capabilities through application programming interface (API) resources. The platform supports the collection, storage, lending, and sending of money, manages over 1.1 million active accounts, and handles over $1.2 billion in deposits across banking partners, utilizing money transmission licenses in 46 U. S. states, the District of Columbia, and two U. S. territories to provide end-to-end financial infrastructure for software partners and business platforms.

Priority Technology Holdings, Inc. is the fifth-largest non-bank merchant acquirer in the United States by volume, according to the March 2025 Nilson Report, following the merger of Global Payments and Worldpay. The company differentiates itself through its proprietary technology platform, comprehensive suite of payment solutions, and highly scalable business model with operating leverage. Its competitive advantages include a diverse reseller network of approximately 1,100 partners, ownership of merchant contracts with strong non-solicit and portability clauses, and money transmission licenses enabling it to collect, store, lend, and send money on behalf of customers across multiple jurisdictions.

Priority serves a broad customer base consisting of enterprise-grade independent software vendors (ISVs), institutional clients, and merchants across major sectors of the U. S. economy, including retail, hospitality, healthcare, real estate, government, utilities, education, non-profit, business-to-business, professional services, and financial institutions. The company’s solutions are designed to support businesses of any size, from small and medium-sized enterprises to large enterprises, by providing end-to-end financial lifecycle tools that enhance cash flow and working capital optimization.