Atlanta, GA – October 27, 2021 – Paya, a leading provider of integrated payment and commerce solutions, has announced that it has partnered with Momnt formerly known as Artis, a provider of modern lending solutions for businesses to offer affordable, low-friction financing to their customers at the point of need. Through this partnership, Paya’s payments technology will integrate directly into the Momnt platforms, providing a seamless payment experience for businesses offering real-time consumer financing.
Paya enables Momnt and the businesses it serves to process payments digitally and track them in real time, significantly increasing operational efficiency. As part of Momnt’ real-time lending framework, businesses can help their clients quickly secure funding for a variety of needs then automate the payment processing based on the client’s new line of credit, ensuring that funds are readily available to support project continuity.
“Paya’s collaboration with Momnt represents yet another use case of integrated payments tailored to the unique needs of each vertical, this time for the lending space,” said Mark Engels, Paya’s Chief Revenue Officer. “Through our partnership, Momnt will enhance its embedded financial services platforms with integrated payment capabilities, offering businesses a more efficient way to track and process payments, and improve the overall experience for their customers.”
“Our partnership with Paya provides a significant value add to the businesses we serve and their customers, particularly those within the home improvement space who’ve experienced a spike in consumer demand amid the pandemic,” said Barclay Keith, CEO of Momnt. “It’s about embedding financial products into the consumer experience at the right moment, and in order to make that happen, businesses need to have integrated tools available at the point of need. We believe embedded finance is the future, and our partnership with Paya is one way we’re continuing to make financial services seamless for businesses and consumers alike.”
Since the launch of Momnt Technologies earlier this year, the company has introduced a platform that equips businesses to serve as the face of financing, while giving lenders an easy pathway to gain a new share of the consumer loan market – as well as Momnt Connect, a complete private-label platform that enables businesses to offer downstream credit through existing customer relationships.
Paya (Nasdaq:Paya) is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. The company processes over $30 billion of annual payment volume across credit/debit card, ACH, and check, making it a top 20 provider of payment processing in the US and #6 overall in e-Commerce. Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B end markets. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Paya is headquartered in Atlanta, GA, with offices in Reston, VA, Fort Walton Beach, FL, Dayton, OH, Mt. Vernon, OH, and Dallas, TX. For more information about Paya, visit www.paya.com or follow us on Twitter: PayaHQ and LinkedIn: Paya.
Momnt powers modern lending solutions for businesses to provide affordable, low-friction financing to their customers at the point of need. Its API-based platforms creatively leverage alternative data sources and ML/AI-informed decisioning to present real-time loan offers fit to each individual borrower, all done within the banking industry’s current regulatory infrastructure. Visit momnt.com for more information.
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See the full press release here.