Celebrating 20 Years of Billing & Payment Innovation
In 2004, Dushyant Sharma founded Paymentus with a singular mission: to simplify bill payment for hundreds of millions of everyday bill payers throughout the world. For the past 20 years Paymentus has delivered this mission by driving the digital transformation that defines the billing and payments industry.
In celebration of this milestone, we invite you to join us for this look back on the Paymentus journey to becoming the best-in-class EBPP provider, and what the future holds for our industry.
The Next-Generation of Billing & Payment is Formed
The bill payment landscape in 2004 was markedly different than it is today. Digital bill payments were in their infancy, with banks and credit unions largely serving as the only game in town for those looking to make online bill payments.
Paymentus recognized the inherent opportunity to help billers and their customers navigate the digital bill pay gap. For billers, electronic bill pay was a game-changer that could enable more on-time payments while driving cost savings and improving the intelligence of payment reporting and reconciliation
The Paymentus solution was designed specifically to help billers leverage digital connectivity. Digitization enabled these billers to bypass snail-mail and provide customers with simple, convenient ways to receive and manage bills, and deliver new digital payment methods that expanded payment options to fit consumers’ needs and preferences.
Innovation In Action
In 2004, mobile payments were barely a blip on the radar while tools like chatbots and digital wallets were decades from being mainstream viable payment options. As the pace of digital adoption accelerated exponentially, the Paymentus platform evolved and expanded just as quickly and focused on mobile first technology at every turn. Today, Paymentus offers more ways to pay and get paid than any other provider in the industry.
The launch of the patented Instant Payment Network® (IPN), the world’s first and only integrated, real-time digital bill presentment, payment and money movement network, firmly established Paymentus at the forefront of the industry. IPN connects a massive network of local, regional and national billers, exciting payment options and channels, and class-leading partners to give customers greater choice, control and convenience in how they receive and pay their bills.
The Paymentus solution continues to evolve to meet the dynamically changing needs of billers and customers alike. Innovations such as the patented Secure Service®, chatbot and a fully inclusive cash bill pay suite are designed to ensure that Paymentus’ customers stay steps ahead of market needs and consumer trends. When it comes to simplifying bill payments, nothing is more important than meeting the payment preferences of any and all bill payers – and that’s what the best-in-class Paymentus solution has been designed to do.
Throughout its two decades, Paymentus has been honored to be chosen as a billing and payment partner by some of the biggest names in payments and retail. Today, we count PayPal, Amazon, J.P. Morgan, Walmart, Green Dot and many more as our partners in delivering a best-in-class payment experience for today’s billers and customers.
Just as Paymentus has strategically evolved its solution and partner network, the company has expanded its reach across the industry through investment and strategic acquisition. A 2011 investment by leading financial investment firm Accel-KKR fueled Paymentus’ emergence as a market-leader. In 2021, Paymentus reached a new milestone with its IPO and listing on the New York Stock Exchange (NYSE: PAY).
Acquisitions of segment leaders, including Tele-Works, Inc. (TWI), Finovera, Billeo and Payveris have allowed Paymentus to envelop the entire billing and payment spectrum from billers to financial institutions.
Bill Joins Our Flock
If you’ve ever visited the Paymentus booth at a trade show, chances are that you’ve met our fine-feathered-friend Bill. Bill was initially hatched to show how our clients can keep their customer service afloat but has since spread his wings and expanded his mission to help everyone with bills.
Just like Paymentus, Bill has transformed and evolved over the past two decades. He’s come in many different colors and styles but always with one goal: help our clients Bill Better®.
While the times and technology change, the Paymentus mission remains unchanged. As we celebrate our past successes, we are also excited to look ahead. Thanks to our clients, employees, partners and leading technology, we have never been in a better position to address the accelerating pace of change within the world of billing and payments.
Reaching our 20-year anniversary is an achievement. But we are just getting started. Today’s Paymentus is faster, smarter and more nimble than ever before. Through our partnerships, expanding expertise and client base that includes direct billers and financial institutions, we believe we provide our clients with unparalleled insights and offerings that help them give their customers more ways to pay.
And while too numerous to name, we’d like to end this celebration with a message of thanks to the many clients, employees and partners who have helped us reach this milestone. It has been an honor to work with each and every one of you.
Here's to decades more!
Continue the celebration – or Billebration – here! A central part of our past 20 years has been to make people happy. To further this mission, we recently partnered with Top Chef host and award-winning restaurateur Chef Tom Colicchio. Check out our special Make People Happy experience to learn Chef Tom’s secrets to customer satisfaction, get insights on how billers can become more customer-centric at every touchpoint and enter for your chance to win an all-expenses paid dinner for two at one of Chef Tom’s world-famous restaurants.