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Paysign, Inc. (NASDAQ: PAYS) is a Nevada-based company specializing in prepaid card products and payment processing services for corporate, consumer, and government applications. The company operates a proprietary payments platform that supports a wide range of financial transactions and offers innovative solutions to streamline operations, reduce costs, and enhance customer satisfaction. Paysign markets its products under the Paysign® brand, catering to industries such as pharmaceutical, healthcare, hospitality, and retail.
- Plasma Industry - Provides prepaid card solutions for compensating plasma donors, enabling seamless and efficient payment processing for plasma collection centers.
- Pharma Industry - Offers payment assistance programs for pharmaceutical companies, including clinical trial payments, healthcare reimbursements, and patient adherence solutions.
- Other - Includes a variety of prepaid card products such as corporate rewards, employee incentives, payroll cards, and gift cards, with plans to expand into travel and expense reimbursement cards.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Joan M. Herman ExecutiveBoard | Executive Vice President and Director | Treasurer of the National Branded Prepaid Card Association (NBPCA) | Over 30 years of experience in payments industry. Joined Paysign in 2017. Previously held leadership roles at Sunrise Bank, UMB Bank, and Heartland Payment Systems. | |
Mark R. Newcomer ExecutiveBoard | President, CEO, and Chairman | Chairman and CEO of 3PEA Technologies, Inc. | Co-founded Paysign in 2006 and has driven growth through technology investments, acquisitions, and partnerships. Previously co-founded 3PEA Technologies, Inc.. | View Report → |
Matthew Lanford ExecutiveBoard | Chief Payments Officer and Director | None | Joined Paysign in 2019. Previously SVP at InComm Payments and VP at Mastercard. Twice awarded Europe’s Prepaid Power 10 for leadership in prepaid industry. | |
Jeffery B. Baker Executive | Chief Financial Officer and Treasurer | Georgia Regional Director at ServisFirst Bank | Joined Paysign in 2021. Previously EVP of M&A at InComm Payments and Chief Development Officer at Global Payments Inc. Holds a BBA in Finance from Texas Christian University. | |
Robert P. Strobo Executive | General Counsel, Chief Legal Officer, and Secretary | Chairman of the Board at Commonwealth Theatre Center | Specializes in prepaid card issuance and non-traditional banking. Joined Paysign in 2018. Extensive legal expertise in financial products. | |
Bruce A. Mina Board | Independent Director | CFO of Academy of Aviation | CPA with over 30 years of experience. Co-founder of Mina Llano Higgins Group, LLP. Extensive expertise in business valuation and litigation support. | |
Daniel R. Henry Board | Independent Director | Board Member at Dama Financial | Co-founder of Euronet Worldwide. Former CEO of Green Dot Corporation and NetSpend. Extensive leadership in financial services and prepaid debit card sectors. | |
Dennis L. Triplett Board | Independent Director | Board Member at Greater Kansas City Crime Commission, Chairperson for Community for Coaches, Member of UMB Healthcare Services Strategic Advisory Council | Over 35 years of banking experience. Founded UMB Bank’s healthcare division, which became the fifth-largest HSA custodian in the U.S.. | |
Jeffrey B. Newman Board | Independent Director | Board Member at Phan Time, Inc. | Former EVP and General Counsel of Euronet Worldwide. Extensive experience in payments, including money transfer, card issuance, and ATM/POS networks. |
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Given the ongoing challenges in your plasma donor compensation business due to hurricanes and staffing shortages, what specific measures are you taking to overcome these obstacles and stimulate growth in this segment?
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As your pharma patient affordability business rapidly expands and becomes a larger portion of total revenue, how do you plan to sustain this growth, and what risks do you foresee with increased reliance on cornerstone accounts?
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With operating expenses increasing by 35.6% due to significant investments in IT and personnel, how do you intend to balance these costs with maintaining profitability in the long term?
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Considering you compete with larger companies like ConnectiveRx, TrialCard, Eversana, IQVIA, and McKesson, how do you plan to maintain your competitive edge, especially since your innovative technology is not patented?
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The legal expenses related to the settlement of class action and derivative lawsuits were not anticipated in your financial guidance; can you provide more details on the financial impact of these expenses and how they might affect future profitability?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Pharma Program Customer #1 | Participates in Paysign’s pharma patient affordability programs. | Pharma | Accounts Receivable: 30% of the company’s total as of Dec 31, 2023. <br>Accounts Receivable: 35% of the company’s total as of Dec 31, 2022. |
Pharma Program Customer #2 | Participates in Paysign’s pharma patient affordability programs. | Pharma | Accounts Receivable: 12% of the company’s total as of Dec 31, 2023. <br>Accounts Receivable: 24% of the company’s total as of Dec 31, 2022. |
No recent press releases or 8-K filings found for PAYS.