Repay Holdings Corp

Repay Holdings Corporation announced a reseller agreement with Visa to join Visa Platform Connect, positioning REPAY as a clearing and settlement backend for independent sales organization and independent software vendor clients. The collaboration enables REPAY's ISO and ISV clients to access enterprise-grade infrastructure and build end-to-end processing solutions directly to VisaNet and Visa's ecosystem of payment solutions. Clients can integrate with VPC and leverage REPAY's clearing and settlement infrastructure, eliminating dependence on legacy processors and reducing costs and complexity. The platform offers a single modern API connection supporting card-present and card-not-present solutions, accelerated time to market in less than six weeks, compliance offload for EMV and PCI DSS, and Visa's real-time money movement capabilities including push-to-card disbursements.

Repay Holdings has completed its first successful proof of concept for accepting stablecoin payments via its platform. The demonstration involved a consumer-to-business transaction on the Stellar blockchain using USD Coin, a fiat-backed stablecoin pegged to the U.S. dollar. The proof of concept utilized the company's existing technology stack and provided an interface where consumers could authorize payments through a browser wallet extension. Upon confirmation, both the Stellar and REPAY systems reflected the completed transaction, with funds made available to the client's wallet shortly thereafter. Repay Holdings is a payments technology company offering solutions such as debit and credit card processing, ACH processing, and digital wallet services.

Repay Holdings has received a revised, non-binding proposal from Forager Capital Management to acquire all outstanding shares for $5.25 per share in cash. The unsolicited offer is under review by Repay's Board of Directors, which is consulting with legal and financial advisors to evaluate the proposal in accordance with its fiduciary duties. Stockholders do not need to take any action at this time. JPMorgan Securities is providing financial advice, while Troutman Pepper Locke LLP and Sullivan & Cromwell LLP are serving as legal counsel. Forager Capital Management is an existing stockholder of the payment processing firm.