Paya, Inc.

Paya, Inc. is a US-based company that delivers integrated payment solutions to enhance commerce experiences across sectors such as B2B, education, and healthcare. Paya, Inc. was founded in 1989 in Dunwoody, US.

The company specializes in payment processing solutions with a focus on B2B and value-added services. In January 2023, Nuvei Technologies Inc. acquired Paya for approximately USD 1. 3 billion, marking a significant shift in its ownership and strategic direction.

The company’s founders include Divya Kalra, Maryam Shaabani, and Palak Kalra, with Joe Kaplan currently serving as CEO. Paya has raised a total of USD 260. 00 mn through various funding rounds, with the most recent being an Add-on Trade Sale on January 8, 2023. Paya, a Nuvei company, specializes in providing integrated payment solutions designed to enhance commerce experiences across various sectors, including B2B, education, healthcare, and more.

The company’s core offerings focus on payment acceptance and disbursement services, which include ACH integrations, e-invoicing, and click-to-pay functionalities. These solutions streamline payment processes for businesses, enabling quick and secure transactions for end users. Paya’s services cater to a diverse clientele, including independent software vendors (ISVs), value-added resellers (VARs), and merchants, who benefit from the seamless integration capabilities of Paya’s platform. Their products are marketed to various geographical regions, with a strong presence in North America, Europe, and growing markets in Asia and Latin America, where businesses seek reliable payment processing solutions.

Paya generated revenue of USD 172. 80 mn in its most recent year, primarily through transaction processing fees associated with its payment solutions and services. The company structures its transactions around partnerships with independent software vendors and businesses that require robust payment acceptance mechanisms. Clients typically engage Paya through subscription models, where they pay fees based on their monthly processing volumes or transaction counts.

Flagship offerings such as Paya Connect and specialized integrations with ERP software solutions contribute to the firm's revenue stream by providing tailored services that meet specific enterprise needs. Paya, Inc. plans to leverage the recent acquisition by Nuvei Technologies Inc. to accelerate its integrated payment strategy and diversify its business into key high-growth non-cyclical verticals.

The funding from the acquisition will enhance the execution of its growth plan, focusing on expanding into new markets, especially in Asia and Latin America. Specific upcoming products and services are in the design phase, with more details expected as Paya aligns its strategy under Nuvei's broader objectives.