Story image

Pushpay revenue climbs as US churches sign up for service

08 Jul 15

Pushpay Holdings, the mobile payments app developer, boosted revenue 39 percent in the first quarter as growth in its US faith-based merchants offset a decline in its SMS business. 

Total annualised committed monthly revenue was $12.8 million at June 30, up from $9.2 million three months earlier, the Redmond-based company said in a statement. Merchant ACMR, which tracks its clients who use the PushPay system to collect money, rose 69 percent to $9 million, while its Run the Red ACMR fell 2.4 percent to $3.7 million. 

Pushpay is targeting the US faith sector for growth where there are more than 314,000 churches with an average 500 attendees each. The company aims to push merchant numbers above 2,000 by its Sept. 30 half-year mark, and those client numbers climbed 42 percent to 1,416 in the three month period ended June 30. 

The company raised $13.8 million in April, via a pro-rata non-renounceable entitlement offer with eligible shareholders offered 1 new ordinary share for every 14 shares already held. A portion of the funds were used to repay outstanding debt under the Christopher & Banks standby facility. As at June 30 the company had $13.84 million in cash and available funding, up from $4.32 million three months earlier. 

Last month the company migrated to the NZX main board from the small cap NZ Alternative Index. Pushpay shares fell 2.4 percent to $4. 

Chorus fibre roll out picks up pace
Chorus has announced that 50% of fibre installations are now being completed within a day.
Keep security in check when doing your mobile banking
Most mobile banking attacks happen through social engineering, which is when people are manipulated to hand over their usernames and passwords to cybercriminals.
AI, big data could be key to improving Māori health
"Being able to get experts of this level together to start exploring how we use data to ultimately better the lives of New Zealanders is one that we were determined to be involved with," says ACC chief.
Human assets the key to a successful digital transformation
Y Soft's Martin de Martini says it's vital that organisations continue to train and motivate their employees.
New blockchain solution aims to keep our food ethical
OpenSC enables anyone to scan product QR codes which automatically takes them to information about where a specific product’s journey.
Cofense launches MSSP program to provide phishing defence for SMBs
SMBs are highly susceptible to phishing attacks, and often lack the resources necessary to stop advanced threats
Kiwis make waves in IoT World Cup
A New Zealand company, KotahiNet, has been named as a finalist in the IoT World Cup for its River Pollution Monitoring solution.
Can it be trusted? Huawei’s founder speaks out
Ren Zhengfei spoke candidly in a recent media roundtable about security, 5G, his daughter’s detainment, the USA, and the West’s perception of Huawei.