Paymentus now has another significant bill payment partner on its roster. The company announced its collaboration with Walmart in 2020 to let customers pay their bills in Walmart stores and on the retailer’s mobile app.

According to the latest release last week, Paymentus said it currently serves more than 1,700 billers and financial firms in North America. 

“Every biller knows that cash payments account for a meaningful portion of revenue,” Paymentus CEO Dushyant Sharma said in the release. “Untethering cash payments from the customer service counter and into tens of thousands of community-based access points will make cash bill pay as easy, convenient and secure as every other payment method for both consumers and billers alike.”

In May 2021, Paymentus raised $210 million during its IPO, selling 10 million shares at $21 each. Later that year, the company bought Payveris, a bill payment software company, for $152.2 million in cash and stock in an effort to expand its network.

Last August, the company’s CFO Matt Parson exited the company for “personal reasons.” The company noted in an SEC filing that there weren’t any disagreements between Parson and his former employer

By Lynne Marek on Jan 23, 2023
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