"There is a huge opportunity with Sage to partner," Kelly said. "We have had tons of interest." The reason for the interest is the more than $4-trillion-per year potential from Sage customers. Meanwhile, payments revenue "flat-lined" for the first half ended March 13 and that was the reason North American revenue growth trailed the rest of the world. By comparison, X-3 revenue in the United States was up 25 percent for the half; Sage 50 revenue also grew in double digits. Without the drag of payments, North American revenue would have been up 7 percent year-over-year. As it was, organic revenue rose only 4 percent. Kelly also indicated one of the problems with the Sage Payments is the model on this continent, which he described as "stand-alone merchant acquirer". Payments is headed by its COO Chris Brundage. It had been headed by its own CEO Paul Bridgewater, who joined the company in March 2015.
SAGE TO PARTNER ON PAYMENTS Featured
Sage is preparing to sell its North American payments business, which generates $150 million in annual revenue. With payments being one of the three pillars of Sage's business, there will be something to fill the gap, Stephen Kelly, CEO of the Sage Group, said during an interview during this week's Summit conference in Atlanta.
