Paymentus Acquires Tele-Works, Inc.
April 15, 2014
Paymentus, a next-generation provider of unified, cloud-based billing and payment solutions, has acquired Tele-Works, Inc. (TWI).
TWI, which is a provider of electronic billing, payment and communication services in North America, serves several hundred utility and municipal customers across the country with a proven platform that includes paperless billing, automated payment processing and voice, web and mobile notification services.
Thanks to the acquisition, Paymentus will now be able to strengthen its position as one of the fastest growing electronic bill presentment and payment companies in North America.
As a result of the acquisition, which makes Paymentus one of the largest comprehensive bill payment solutions providers, Paymentus now serves nearly 1,000 customers including many of the largest cities, investor-owned utilities, insurance companies, hospitals and financial services organizations.
“TWI has been delivering innovative billing, payment and customer communication technology to the utility market for many years,” said Dushyant Sharma, CEO of Paymentus, in a statement.
“We're excited about working together to revolutionize the revenue management cycle in the industries we serve,” said Sharma.
Paymentus delivers the complete bill-pay management solution: consumer self-service, business analytics, communications management, bill presentment and payments. Paymentus serves utilities, insurance providers, financial services firms, hospitals and government agencies.
“We've had a healthy and respectful competitive relationship with Paymentus for many years, as we share the same vision of excellent service coupled with a full-feature platform for our customers," said John Schott, CEO of TWI.
Schott said that joining the Paymentus family made perfect sense for the customers and partners.
The company will maintain its corporate headquarters in Charlotte, NC with regional offices in Atlanta, GA, Blacksburg, VA, Chicago, IL, Los Angeles, CA, Miami, FL, Richmond Hill, ON (News - Alert) and Vancouver, BC.
TMCnet in May reported that the State of Washington Department of Social and Health Services and payment processor Paymentus have both inked a strategic alliance with TIO Networks Corp. in order to assist residents in paying state-related bills from anywhere in the country.
As part of the pact, TIO, North America's bill pay technology provider, will provide self-service kiosks and clerk-assisted software at key retail locations in the state of Washington, as well as on TIO's existing network of approximately 57,000 locations throughout the U.S. for customers to make child support payments.
Edited by Maurice Nagle