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About Paysign Inc.
Paysign Inc. (PAYS) is an experienced and trusted prepaid debit card payment solutions provider as well as an integrated payment processor that has over 2 million of prepaid debit cards in its portfolio. PaySign designs and develops payment solutions, prepaid card programs, and customized payment services. The Company manages programs for many of the world’s largest pharmaceutical manufacturers with copay assistance products designed to maximize new patient acquisition, retention and adherence. Its corporate incentive prepaid cards are changing the way corporations reward, motivate and engage their current and potential customers, employees and agents. Paysign’s customizable prepaid solutions offer significant cost savings while improving brand recognition and customer loyalty. Customers include healthcare companies, major pharmaceutical companies and source plasma providers, large multinationals, prestigious universities and social media companies.
Company at a Glance
- Revenue for the year ending December 31, 2018 was $23.4 million, an increase of 54% compared to $15.2 million the prior year.
- Gross profit increased 70% to $11.4 million or 49% of revenues, compared to $6.7 million or 44% of revenues in 2017.period last year.
- Non-GAAP Adjusted EBITDA was $4.9 million, an increase of 65% compared to $3.0 million in 2017. Non-GAAP Fully Diluted EPS was $.09 as compared to $.06 the prior year.
- The company reiterates its previously released revenue guidance for 2019 of $38.0 to $40.0 million, representing a 62% to 71% increase compared to $23.4 million for full year 2018
as well as an adjusted EBITDA guidance at $10.0 to $12.0 million, representing a 104% to 145% increase compared to $4.9 million for full year 2018.
State of the Art Payment Processing Platform - PaySign
The PaySign platform represents a revolutionary payment processing solution that took years of development. It is a reflection of the Company's commitement to providing innovative, cost effective, customizable payment solutions to a variety of industries for multiple purposes. The platform was designed to easily incorporate new payment technologies and applications as they evolve, keeping Paysign at the forefront of payment innovation.
PaySign's Key Features
The PaySign Platform is extremely flexible and can be used in the following industry-specific applications.
--> Corporate Incentives: In a market that is expected to grow to $26.5 billion by 2016, PaySign® corporate incentive cards are the perfect vehicle for
corporations looking to engage and motivate their customers, employees, and trade partners. PaySign cards are perfect for customer rebates, employee
bonuses and trade partner commissions. Examples of corporate incentive cards include prepaid cards used as incentives to purchase big ticket items such
as automobiles, smartphones and major appliances.
--> Payroll: PaySign payroll cards reduce administration costs and streamline operations for companies looking to provide an efficient payment method for
unbanked employees. The overall market for prepaid debit cards for payroll is expected to reach $66.4 billion by 2016.
--> Public Sector: Federal and local governments, educational institutions, and other public sector organizations are constantly looking to improve efficiency
and reduce costs. The PaySign card for the public sector provides an effective way to reduce costs and inefficiencies, whether related to disbursements of
public benefits or internal payments. The total prepaid card market for government payments is projected to reach $119.4 billion by 2016.
--> Pharmaceutical Co-Pay Assistance: Paysign's Allegiance Rx card is now available under the PaySign brand. Co-pay assistance cards have been
utilized by major pharmaceutical companies for brands such as Viagra®, Vyvance® and Restasis® to name a few.
--> Source Plasma Donors: Plasma collection companies nationwide can turn to the PaySign brand of cards for a customized payment solution for plasma
donors. The PaySign solution offers either a customized Plasma Web portal solution or direct integration into donor management software.
Mark R. Newcomer, President / Chief Executive Officer / Vice Chairman of the Board
- Co-founded the Company in 2001; and driving force behind the Company's significant growth and strategic direction
- Shaping the future of the business as a premier prepaid card services leader, delivering a strong value proposition for clients and over 2 million cardholders; oversees all financial, operational, technological and strategic decisions for the company, including: technology investments, the evaluation of strategic acquisitions,new product development and the formation and cultivation of third-party relationships
- Served on the X-9 committee which developed standards for the electronic payments industry alongside IBM, Diebold, First Data, KPMG, MasterCard, Melon Bank, Visa, Wells Fargo, the Federal Reserve and others
- Attended Cal-Poly San Luis Obispo where he majored in Bio-Science
Daniel H. Spence, Chief Information Officer / CTO
- Co-founded the Company in 2001
- 30+ years of senior IT experience
- Prior experience includes Director of Technology Planning at the Associated Press, Project Manager of implementation of Medicare Easyclaim for ANZ Bank in Australia, Coca-Cola Business Operations & Business analyst for Australia Post
Mark Attinger, Chief Financial Officer
- 30+ years of experience in Financial Services and BPO industries with concentration in Finance, Operations and executive leadership
- Prior experience includes CEO and CFO of Zxerex, CEO of Affina, and Vice President at American Express and Vice President at NextCard
- Bachelor of Science in Finance, minor in Accounting; and Masters in Business Administration (MBA) from Brigham Young University
Joan Herman, Chief Operating Officer / Director
- 30+ years of industry experience
- Previously at Sunrise Banks as Senior Vice President, Payments Division where she led the new prepaid business
- Prior experience includes various management positions in operations, product development, and sales and marketing at UMB Bank, Heartland Bank, and Boatmen’s Bank
- Board member of the Network Branded Prepaid Card Association and serves as Treasurer
Robert Strobo, General Counsel, Chief Legal Officer / Secretary
- 13+ years of legal experience in non-traditional banking
- Previously at Republic Bank & Trust Company (Louisville, KY) as Deputy General Counsel and Vice President where he managed all legal affairs for Republic’s non-traditional bank programs, including payments, small-dollar consumer lending, commercial lending and tax related products
- B.A. in Psychology and Philosophy from the University of Kentucky and J.D. from DePaul University College of Law in Chicago, Illinois
Eric Trudeau, Chief Compliance Officer
- 20 years of experience working in the card industry, focusing on prepaid and credit products
- Previously with Global Cash Card, Inc., Sunrise Banks and Meta Payment Systems (a division of Meta Bank)
- Certified member (CAMS) of the Association of Certified Anti-Money Laundering Specialists.
- Bachelor of Science Degree from South Dakota University
Egon Kardum, Chief Information Officer
- 30+ years experience in various technical roles providing enterprise IT services at several global companies
- Former Associate Director, Hosting Solutions Bristol-Myers Squibb
- Former Manager of Server Technology, The Associated Press
Dana Barciz, Chief Marketing Officer
- 25+ years experience in various marketing roles within the Fintech industry
- Former Senior Product Marketing Manager at Fiserv
- Former Vice President, Marketing, NYSE Governance Services
Board of Directors
Dan Henry, Chairman of the Board
- Former CEO of NetSpend (2008-2013). Grew annual revenue from $129M to $351M, with over 2.4 million cardholder accounts. NetSpend acquired by Total System Services: (NYSE: TSS) for $1.4B
- Co-founder, Former President and Chief Operations Officer and Director at Euronet Worldwide (NASDAQ: EEFT). A leader in secure electronic financial transaction processing. Current market cap: 5.4B
- Sits on Board of The Brinks Company. (NYSE: BCO), CARD Corporation (Card.com), RxSavings Solutions, Balance Innovations and Align Income Share Fund
- Received a B.S. in Business Administration with majors in Finance, Economics and Real Estate from the University of Missouri,Columbia
Dennis Triplett, Director
- 35+ years in the banking industry including serving as the President and CEO of two banks in the Midwest
- Former CEO of Healthcare Services at UMB Bank, N.A a leading provider of healthcare payment solutions including health savings account (HSAs), health care spending accounts and payments technology
Quinn Williams, Director
- 30+ years of legal experience focusing on mergers and acquisitions, public and private securities offerings, and venture capital transaction
- Serves as corporate counsel for numerous public/private companies and was formerly general counsel and board member of Swensen’sInc.
- Mr. Williams is a shareholder with Greenberg Traurig LLP and admitted to the Bar in New York and Arizona
Bruce A. Mina, Director
- 30+ years of experience as a Certified Public accountant
- Founder and Managing member of Mina Llano Higgins Group, LLP
- Former CFO of Coal Brick Oven Pizzeria, Inc.
- Currently CFO for Academy of Aviation in Long Island, NY
Click Here For the Company's Investor Presentation
Articles About 3PEA International
Seeking Alpha (SC Capital Group) - 3Pea Is A Payment Processor With >40% Organic Growth Selling For Half Of Peer Multiples - 2018-05-22
Seeking Alpha (Inefficient Market) - 3Pea: Strong Guidance, Uplisting, Should Propel Shares Higher - 2018-04-03
Seeking Alpha (BW Investment Visibility) - 3Pea International: Undervalued And Undercovered Turnaround Story - 2017-11-20
Ladenburg Thalmann: Buy 12$ Target
Maxim Group: Buy 10$ Target
BTIG: Buy 9.50$ Target
*This document contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed.