Bill Tech Firm Paymentus Signs Acquisition Deal With P2P Startup Payveris

mobile money transfer

Paymentus Holdings, which offers cloud-based bill payment technology tools, is acquiring Payveris, a cloud-based software provider that streamlines person-to-person (P2P) and account-to-account (A2A) money transfers.

“We started our relationship with Payveris as a multi-faceted partnership and it quickly became apparent that their technology and team are best-in-class and would be incredibly additive to our platform and mission, Paymentus President and CEO Dushyant Sharma said in a Tuesday (Aug. 10) press release.

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“This acquisition not only accelerates our ability to disrupt the legacy bill pay paradigm but also helps us deliver greater value to our billers, strategic partners and financial institutions,” Sharma said.

Paymentus said the acquisition will further its goal to of creating a “modern bill payment ecosystem for all industries,” including banks that are often weighted by “siloed point solutions” for money transfers.

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Payveris is already known for supplanting legacy systems and “driving meaningful increases in consumer acquisition, engagement and retention for financial institutions,” according to the release.

The tie-up between the two companies is anticipated to benefit both firms, with a boost to the market for Paymentus and its solutions, while also improving MoveMoney, a real-time solution for money transfers by Payveris, that also offers bill pay and other tools for banks, credit unions and financial institutions.

Payveris CEO Ron Bergamesca said the two firms “have strong cultural and strategic alignment and highly complementary technologies that, when combined, create a real-time payment network connecting consumer accounts at their financial institutions and their billers.”

After the deal closes, bank and credit union customers of Payveris will have access to the Instant Payment Network offered by Paymentus, in addition to having the ability to use its omnichannel bill presentment and payment platform, per the press release.