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Pushpay annualised platform volume now exceeds US$1b

Published: Tue 11 Oct 2016 02:20 PM
Pushpay annualised platform volume now exceeds US$1b
Auckland, New Zealand | Redmond, Washington, USA – 11 October 2016
Pushpay Holdings Limited (NZSX:PAY) (‘Pushpay’ or ‘the Company’) is proud to now process over US$1 billion in Annualised Monthly Payment Transaction Volume.
Since May 2016, Pushpay has increased its Annualised Monthly Payment Transaction Volume by US$281 million to over US$1 billion, an increase of 39.1% over four months.
Reaching US$1 billion in Annualised Monthly Payment Transaction Volume is a significant milestone for the Company and Pushpay expects Annualised Monthly Payment Transaction Volume to continue to grow at a rapid pace as it executes on its USA growth strategy.
Pushpay’s CEO, Chris Heaslip said, “It is fantastic to see our Annualised Monthly Payment Transaction Volume reach US$1 billion. US$1 billion of giving represents a significant amount of good being done in local communities through the additional donations our Merchants are receiving.
“This milestone for the team at Pushpay is reflective of our commitment to innovation and investment in people, product and processes. As a company, we believe we are still at an early stage of the Pushpay story. There is US$119 billion given to religious organisations in the USA each year, and we process around 1% of that. Our goal now is to reach the milestone of US$10 billion in Annualised Monthly Payment Transaction Volume, representing less than 10% of annual giving to religious organisations in the USA.”
Pushpay remains on track to reach its targets of US$72 million in Annualised Committed Monthly Revenue (ACMR) and to reach breakeven on a monthly cash flow basis, prior to the end of calendar year 2017.
ends

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