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Pushpay Holdings sees increased traction in church giving solution

Published: 10:30 09 Jan 2017 AEDT

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Pushpay provides mobile commerce tools.

This has resulted in an ACMR increase of US$7.3 million compared to the quarter ended 30 September 2016.

Pushpay provides mobile commerce tools that facilitate non point of sale payments, targeting customers who are looking to offer convenient and intuitive payment solutions to their consumers.

In addition to its NZX Main Board listing, Pushpay is listed on the ASX, via an ASX Foreign Exempt listing.

In conjunction with the ASX Foreign Exempt listing, Pushpay had raised AU$40 million through a placement of new shares in October 2016.

The net proceeds from the placement will be used by the company for working capital and to fund Pushpay’s continued rollout of its payments platform across the U.S. faith sector.

In November, the company acquired a church giving app business from Bluebridge Digital, Inc in the U.S.

US$119.3 billion was given to religious organisations in the U.S. in 2015.
Assuming digital giving of 30%, Pushpay assesses the potential annual revenue opportunity from digital payment fees in the U.S. faith sector to be US$3.1 billion in 2020.

Pushpay’s share price has increased by about 34% over the past few days, last trading at $1.77.

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