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.