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REPAY CONSUMER REVS RISE Featured

Consumer revenue for payments company Repay rose 14.5 percent for the first quarter ended March 31 while business revenue dropped 2.4 percent. The result was a total increase of 10.0 percent.

Meanwhile, the company loss $27.9 million for the most recently ended quarter, more than double the $12.9 million lost a year ago. Repay said in the business segment growth in clients was offset by a drop in the media payments business and a larger client that reduced business after being acquired. The bottom line was affected by the chair in fair value of a tax receivable liability, which took $5.6 million off the bottom line while there was positive $23.6 million recognized in last year’s corresponding quarter. The company said during the quarter it added eight integrated software partners to bring the total in that category to 248 integrations.

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