Repay Holdings Corp (NASDAQ: RPAY)

Repay Holdings Corporation is a leading payments technology company that provides integrated payment processing solutions to businesses operating in specific vertical markets. The company focuses on personal loans, automotive loans, receivables management, and business to business sectors. Its proprietary platform enables clients to accept electronic payments, disburse funds, and settle transactions while reducing the complexity of traditional cash and check methods. Repay Holdings Corporation offers payment acceptance through a variety of channels including web based virtual terminal, hosted payment page, online client portal, mobile application, text to pay, interactive voice response, and point of sale terminals. The company’s solutions are designed to meet the specific transaction processing needs of each vertical market it serves.

Repay Holdings Corporation generates revenue primarily from fees charged for processing electronic payments on behalf of its clients. These fees include transaction based charges for debit and credit card processing, automated clearing house transfers, loan disbursement services, and account payable automation. The company also earns revenue from its proprietary clearing and settlement platform that serves independent sales organizations and payment facilitators. Additional income is derived from value added services such as instant funding, communication solutions, and digital wallet services. Revenue is derived from the volume of payments processed and the value added services embedded in clients’ workflow software. The firm also benefits from recurring revenue streams as clients increase their payment volumes over time.

The company operates through the following segments: Consumer Payments and Business Payments.

• Consumer Payments: This segment provides payment processing solutions including debit and credit card processing, automated clearing house processing, loan disbursement, and the proprietary clearing and settlement platform known as RCS that serves independent sales organizations and payment facilitators. It serves vertical markets such as personal loans, automotive loans, receivables management, credit unions, mortgage servicing, consumer healthcare, and diversified retail. For the year ended December 31 2025 this segment accounted for approximately 85% of total revenue after intersegment eliminations.

• Business Payments: This segment provides payment processing solutions including accounts payable automation, debit and credit card processing, virtual credit card processing, automated clearing house processing, and other electronic payment acceptance tools that enable clients to collect or send payments to other businesses. It serves vertical markets such as retail automotive, education, field services, governments and municipalities, healthcare, media, homeowners association management, and hospitality. For the year ended December 31 2025 this segment accounted for approximately 15% of total revenue after intersegment eliminations.

Repay Holdings Corporation operates in a competitive payments industry where it faces rivals such as ACI Worldwide, Payliace, Paymentus, PayNearMe, PayScout, and TabaPay in its Consumer Payments segment. It also competes with traditional merchant acquirers including Bank of America Merchant Services, Elavon, Wells Fargo Merchant Services, Global Payments, WorldPay, and Fiserv. In the Business Payments segment its primary competitors are AvidXchange, Edenred Pay, Corpay, Paya, and Fortis. The company differentiates itself through its proprietary integrated technology platform, deep vertical market expertise, and extensive software integration relationships with approximately 294 partners. These strengths enable high volume retention rates and the ability to embed payment solutions directly into clients’ enterprise management systems. Furthermore, its focus on niche verticals allows it to develop tailored solutions that larger competitors may overlook.

Repay Holdings Corporation serves a diverse customer base that includes lenders in the personal loan and auto loan sectors, debt collection agencies in receivables management, and a wide range of business to business enterprises. Its clients operate in industries such as automotive, field services, healthcare, homeowners association management, hospitality, education, government, and media. The company also works with independent sales organizations and payment facilitators through its RCS clearing and settlement offering. While specific customer names are not disclosed, the firm notes that its top ten clients contributed roughly 19% of total gross profit in the year ended December 31 2025 and that these relationships have an average tenure of approximately seven years. The firm maintains long term relationships with many clients, as evidenced by the average tenure of its top ten accounts.