Paymentus Holdings acquires Payveris to enhance financial services

By Joy Dumasia

Paymentus Holdings, provider of cloud-based bill payment technology solutions, announced that it had signed a definitive agreement to acquire Payveris to accelerate its initiatives to serve financial institutions and expand the reach of Paymentus’ proprietary Instant Payment Network.

Payveris is a leading provider of cloud-based software that enables over 265 banks and credit unions to modernize and simplify bill pay, person-to-person and account-to-account money movement and fraud prevention through a unified platform.

The combination is expected to increase the addressable market opportunity for Paymentus’ existing solutions while also enhancing Payveris’ MoveMoney platform with real-time capabilities, enhanced electronic bill presentment and additional payment options for banks, credit unions and financial institutions sizes.

Paymentus will provide Payveris’ bank, and credit union clients access to the Instant Payment Network, expanding their clients’ network reach. They will also offer Payveris clients who service loans it’s omnichannel bill presentment and payment platform to modernize their loan payment operations.
Paymentus clients are expected to gain from the acquisition. Their customers will soon have the ability to view bills and make real-time payments at the over 265 banks and credit unions that Payveris serves.

Dushyant Sharma, Paymentus’ President and CEO, said: “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. 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. We are looking forward to having the Payveris team join Paymentus’ fast-growing team.”

IBS Intelligence reported that Walmart announced that the multinational retail corporation has partnered with Paymentus, an eBilling and ePayment platform, to modernize how bills are paid in Walmart stores and the Walmart app.