Pushpay Holdings now processing US$2.2b annually

Company News

by Jessica Amir

Mobile phone app company, Pushpay Holdings (ASX:PPH) is now processing US$2.2 billion in annualized payments.

It comes as the company now serves 12 of the top 20 largest churches, and 50 of the top 100 churches in the US.

As a result, it also brought forward its US$100 million annualized committed monthly revenue (ACMR) target to December this year. It originally anticipated it would hit the target in March 2018.

The company says hitting $US2.2 billion of giving represents that a significant amount of ‘good’ is being done in local communities.

In 2016, over US$120 billion was given to religious organizations in the US and PushPay processed about 2 per cent of that through their software.

Shares in Pushpay Holdings(ASX:PPH) closed 0.2 per cent higher yesterday at $2.49.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.