New ISV integration enables businesses to automate sending of outbound vendor payments with choice of virtual card or ACH from within the procurement and accounts payable platform
Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced a technology integration with PN 3 Solutions , a paperless B2B accounts payable (AP) authorization and automation software provider. Through the partnership, PN 3 ’s business customers will gain the ability to automate outbound payments through the use of virtual card or ACH to their vendors – adding seamless, fully integrated payments capabilities to its procurement and AP workstreams. In powering payments from within the PN 3 platform, REPAY extends its industry footprint with a fully integrated payments solution for clients using various ERP systems, including Microsoft Dynamics 365, Microsoft Dynamics GP, Dynamics SL, Dynamics NAV, Sage Intacct, and Acumatica.
The PN 3 Solutions platform is designed to link into existing financial systems, enabling businesses to rapidly implement and deploy electronic purchase and payment authorization workflows configured to adhere to specific AP policies and procedures. Now, the PN 3 platform includes vendor payments powered by REPAY’s integrated payment processing solution, providing a seamless way to process payments, regardless of payment type, increasing transparency and accountability in the vendor payment process.
“Businesses of all sizes are seeking to integrate payment technology into their critical, day-to-day applications to reduce friction in their operations. REPAY has a long history of working with software providers to accomplish just that – extending the capabilities and value of their applications,” said Darin Horrocks, Senior Vice President, B2B, at REPAY. “We’re excited to help PN 3 complete the accounts payable workstream by seamlessly incorporating an outbound payment option for users who rely on the platform to manage invoices and pay vendors on time with the method they prefer. The partnership will also allow us to realize synergies with our B2B receivables offering, as REPAY’s footprint now overlaps payables and receivables across key integrations, including Acumatica and Sage.”
“Procurement and accounts payable procedures touch virtually every department in most B2B organizations, so improved efficiencies can have an instant impact on the bottom line,” said Derrick Hicks, Managing Principal at PN 3 Solutions. “With its long history and expertise in payments combined with a mature software integration program, REPAY was the perfect partner to build payments capability within our existing platform. In addition to improved overall AP management, our customers can also realize cost savings by reducing the time spent authorizing, facilitating and reconciling the payment for the goods and services required to run their organizations.”
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 and businesses.
About PN 3 Solutions
PN 3 is a leading provider of cloud and on-premises based procure to pay and AP automation software for small to medium sized enterprises. For many years, small to medium sized enterprises have relied upon traditional paper-based purchasing and accounts payable processes. PN 3 links into each customers’ existing financial systems enabling enterprises to digitize their processes improving process efficiency, visibility and internal controls. PN 3 provides seamless integration with several of the leading ERPs by Microsoft and Sage.
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Investor Relations Contact for REPAY:
repayIR@icrinc.com
Media Relations Contact for REPAY:
Kristen Hoyman
khoyman@repay.com