February 13, 2017
By: Mike Dautner
Realtime Electronic Payments, known in the payments industry as a one-stop provider of advanced payment technology products and e-transaction processing services for the consumer lending industry has recently acquired Stigma Payment Solutions.
The company was formerly involved in related services within the auto finance space. Both of these companies will press forward, growing both of their respective infrastructures and capital with the convenience of shared tech, resourcing, and relations.
“REPAY had already planned to expand into auto finance, so Sigma’s established footprint and well-respected leadership in that space made this an attractive acquisition for us,” said John Morris, CEO of REPAY.
“We are also thrilled to welcome Susan Perlmutter to our team. She is highly regarded in the industry and has negotiated numerous beneficial Dealer Management System integrations for Sigma, with more on the horizon,” Morris said. “We’re excited to join forces to offer an even higher level of service to our consumer finance and auto finance customers.”
Susan Perlmutter, chief revenue officer for both comapanies, said, “This acquisition brings greater resources to Sigma, as well as broader and deeper underwriting capabilities. It could not be a more perfect union, as each company fills a gap for the other.”
Perlmutter commented that Sigma’s clients have already begun to reap the benefits of the merger by way of competitive pricing options.
“REPAY has a direct relationship with TSYS and with REPAY’s processing partners. As a result, Sigma can now offer more customized solutions and better pricing to our customers,” she said.
As of now, both companies will resume investing in new technology endeavors to ensure automation of consumer payments all day everyday.
Morris added, “We are also working hard to increase the pace by which we can integrate with loan management and dealer management systems. We believe a customer’s choice to work with REPAY or Sigma should be an easy one, because we offer true plug-and-play functionality.”