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 is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including 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 in financial planning for over six years with leading wealth managers and in real estate.