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Paya Holdings Inc. (PAYA) announces a government services contract

Paya Holdings Inc. (NASDAQ: PAYA), a supplier of integrated payment systems, has announced a government services contract. This week’s statements received a big favorable boost from the news.

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Paya Holdings has signed a deal with Promise, an American business that specializes in safeguarding payments for utilities and government institutions. Promise, in particular, provides instruments for flexible payments in areas where local inhabitants’ technical and financial capacities are low and simple access to support programs is essential.

The payment situation in the United States has deteriorated over the COVID-19 era, with greater debt and more pressure on municipalities and utility suppliers.

Paya is now a Promise payment partner, and it will benefit from stable cash flow in the public sector and utilities. Paya has a chance to engage in this movement because the market is in the early stages of transitioning to SaaS services.

Paya is still one of the major suppliers of payment processing services today, handling more than $40 billion in payments each year. The company has around 100,000 clients in healthcare, education, non-profits, industry, and B2B. The ability of Paya solutions to simply interface with external CRM systems and internal accounting systems of various enterprises is a benefit.

Paya payment volumes increased by 23.5 percent to $11.7 billion in the first quarter of 2022. Total sales increased 19% to $55.3 million, while net income more than quadrupled to $2.2 million.

For the period of the last 50 days, Paya Holdings Inc. had its Raw Stochastic average set at 91.94% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses an improvement, set at 88.89%. Stochastic %K for Paya Holdings Inc., with the last 20 days included, was set at 55.67%, having Stochastic %D topping 35.66%.

Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting for the time for year-to-date, price performance appears to be encouraging for Paya Holdings Inc. stocks with recording 3.31% in metrics.

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