Repay Holdings Corporation (RPAY): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at the late 2025 financials for Repay Holdings Corporation, and honestly, the story isn't just about processing transactions; it's about deep, embedded integration across specific industries. As a seasoned analyst, I see a company doubling down on this strategy, which is clearly paying off with Q3 2025 revenue hitting $77.7 million and a strong 40% Adjusted EBITDA margin, plus a 67% Free Cash Flow conversion rate in that quarter. So, how does this focus on proprietary tech, 291 software partner integrations, and expanding non-card volume translate into market positioning and shareholder value? Dive in below as we break down the Product, Place, Promotion, and Price that define their current marketing mix.

Repay Holdings Corporation (RPAY) - Marketing Mix: Product

Repay Holdings Corporation's product offering centers on providing integrated payment processing solutions tailored for specific industry verticals. This approach is designed to reduce the complexity of electronic payments for clients while enhancing the overall payment experience for their customers and business partners. Repay Holdings Corporation differentiates itself through its proprietary, integrated payment technology platform. As of late 2025, the platform supported payment acceptance through channels including Mobile App, Text, Interactive Voice Response, Virtual Terminal, Hosted Payment Page, and Online Customer Portal.

The product strategy maintains a dual focus across two reportable segments: Consumer Payments and Business Payments. The Consumer Payments segment targets verticals such as personal loans, automotive loans, receivables management, credit unions, mortgage servicing, consumer healthcare, and diversified retail. The Business Payments segment focuses on solutions like accounts payable automation, debit and credit card processing, virtual credit card processing, and ACH processing for business-to-business transactions.

The platform's integration capability is a core product feature, ensuring seamless delivery of payment processing capabilities within the client's primary enterprise management systems. As of December 31, 2023, Repay Holdings Corporation was integrated with approximately 262 software partners, a number that has been growing as the company focuses on expanding indirect partnership channels.

Regarding digital wallet capabilities, Repay Holdings Corporation's technology facilitates modern payment acceptance, including digital wallet payments, which is critical for the Consumer Payments vertical, especially in loan servicing. For instance, the integration with Fuse's AI-powered Loan Origination System (LOS) ensures transaction logs are automatically updated following a card, ACH, or digital wallet payment, supporting modernized, seamless payment experiences for borrowers.

Repay Holdings Corporation is incorporating advanced technology, evidenced by its integration with Fuse's AI-powered LOS platform, which provides expanded payment automation capabilities across the loan management lifecycle. This use of AI software helps lenders generate valuable insights, automate compliance checks, and reduce the risk of manual errors by automatically updating transaction logs. This focus on automation and data accuracy is a key product enhancement, helping clients attract borrowers by offering modern payment options. The company is also focused on building out its AP supplier network within Business Payments, which accelerated to over 524K+ suppliers as of Q3 2025, representing approximately 59% year-over-year growth.

Here's a look at key operational metrics related to the product segments as of the third quarter of 2025:

The product suite is designed to drive transaction volume and client engagement through specific performance indicators:

• Instant funding volume growth reached approximately 36% year-over-year in Q3 2025.
• Normalized revenue growth for Repay Holdings Corporation was 5% year-over-year in Q3 2025, excluding political media.
• The company's fiscal year 2025 guidance projected fourth quarter normalized gross profit growth in the 6% - 8% range.
• Free Cash Flow (FCF) conversion for Q3 2025 stood at 67%.

The focus on optimizing digital payment flows remains a constant in Repay Holdings Corporation's product development, aiming for sustainable growth exiting the year.

Repay Holdings Corporation (RPAY) - Marketing Mix: Place

Repay Holdings Corporation's Place strategy centers on deep embedding within client workflows, primarily through technology partnerships, ensuring their payment solutions are native to the software used by their target verticals. This approach minimizes friction for both the client and the end-consumer or supplier.

The distribution backbone relies heavily on the integration ecosystem. As of the end of the fourth quarter of 2024, Repay Holdings Corporation maintained approximately 280 software relationships, a number that continues to grow through strategic additions like those announced in the latter half of 2025 with platforms such as Fuse and Yooz. This embedded payment strategy is key to making Repay Holdings Corporation's technology stickier within client platforms.

The direct go-to-market model is specifically enhanced to target larger organizations. Management has reinforced a focus on large enterprise clients as a key driver for meaningful growth. This direct sales effort complements the indirect channel driven by the software partners.

Distribution reach spans a wide array of industries. Repay Holdings Corporation serves 21+ vertical end markets, demonstrating a broad application of its integrated payment technology. These verticals include, but are not limited to, Healthcare, HOA Management, personal loans, automotive loans, and government/municipalities.

For the Business Payments segment, the distribution of Accounts Payable (AP) automation is supported by a substantial network. As of the second quarter of 2025, this AP supplier network had accelerated to over 440,000 suppliers. This network facilitates the distribution of virtual credit card payments and enhanced ACH transactions to vendors.

The overarching goal for Place is the optimization of digital payment flows. This optimization is critical across all verticals to reduce complexity, improve reconciliation, and enhance the overall user experience for both payment acceptance and disbursement.

Here is a summary of the key distribution metrics as reported through late 2025:

The distribution strategy emphasizes channel depth over sheer breadth, focusing on making the payment process invisible within the client's existing software environment. Key elements supporting this include:

• Embedded payment strategy via technology partners.
• Direct sales focus on enterprise clients.
• Distribution across diverse, industry-specific verticals.
• Leveraging the over 440K AP supplier network.
• Continuous optimization of digital payment pathways.

If onboarding for new software partners takes longer than the typical 90 days, the time-to-revenue realization is delayed.

Repay Holdings Corporation (RPAY) - Marketing Mix: Promotion

Repay Holdings Corporation's promotion activities in late 2025 reflect a disciplined approach, heavily weighted toward reinforcing financial strength and the value proposition of its integrated payment technology platform, especially following the conclusion of its strategic review process in May 2025. The core promotional narrative centers on a pivot to organic growth, supported by internal investment and proven financial performance.

The messaging to the market, particularly to investors and prospective enterprise clients, consistently emphasizes robust financial health. For instance, the third quarter of 2025 saw Adjusted EBITDA margins reach approximately 40%, a figure that management highlights as a testament to operational discipline, even when compared to the 43% margin achieved in the first quarter of 2025. This focus on profitability is a key promotional pillar.

Investor relations activities defintely highlight strong Free Cash Flow generation as a primary indicator of business quality and capital allocation capacity. In the third quarter of 2025, Repay Holdings Corporation generated Free Cash Flow totaling $20.8 million, which translated to a 67% Free Cash Flow conversion rate. This follows the second quarter of 2025, where the conversion rate reached 71%. The outlook for the end of the year reinforces this, projecting Free Cash Flow conversion to be above 50% in the fourth quarter of 2025.

To support the renewed focus on organic growth, a significant promotional theme involves communicating the enhancement of internal capabilities. Throughout 2025, Repay Holdings Corporation has been making incremental investments towards the sales, implementation, and client service teams to directly support future growth. This investment is positioned as a direct benefit to clients, ensuring that the proprietary, integrated payment technology platform delivers a seamless experience.

The promotion of the platform's reliability is intrinsically linked to its integration strategy. The core growth strategy is built on the drive to optimize digital payment flows across both consumer and business verticals, embedding payment technology directly into software platforms for a seamless experience. This is evidenced by ongoing efforts to deepen software partnerships, such as the enhanced integration with MeridianLink announced in June 2025. The company promotes the platform's ability to reduce the complexity of electronic payments for clients, which inherently speaks to system stability and uptime, even without explicitly detailing real-time API observability metrics in public releases.

The promotional focus on internal execution and growth drivers can be summarized by the following key areas management has emphasized:

• Strategic focus on organic growth post-strategic review.
• Deepening software integrations, reaching 291 partners as of Q3 2025.
• Continued expansion of the Business Payments supplier network, reaching 524,000.
• Incremental investment in sales, implementation, and client service teams.
• Capital deployment via share repurchases, totaling $38 million year-to-date as of Q3 2025.

The financial performance metrics used in promotion across the three reported quarters of 2025 are detailed below:

Repay Holdings Corporation (RPAY) - Marketing Mix: Price

Repay Holdings Corporation's pricing structure centers on a transaction-based pricing model. This model inherently scales with client activity, but the company actively employs volume discounts for large clients to secure and grow significant relationships. This strategy directly impacts realized margins, as noted in the Q3 2025 performance review.

The financial outcomes for the period reflect the interplay between volume growth, pricing concessions, and payment mix shifts. For instance, gross profit margins compressed approximately 3.4% year-over-year in Q3 2025. This compression was attributed to several factors directly related to pricing and mix, including the application of those volume discounts and an expanding monetization of non-card payment volumes (ACH and check), which carry different cost structures.

Here's a quick look at the top-line and efficiency metrics from the third quarter:

The ability to convert earnings into cash remains a strong point, showing that despite margin pressures, the underlying economics support significant cash generation. The strong Free Cash Flow conversion of 67% in Q3 2025 is a key indicator of pricing power relative to operational costs, even with strategic pricing adjustments.

The pricing strategy involves several key components influencing the final customer cost:

• Transaction-based fee structure for core services.
• Tiered pricing offering discounts based on client processing volume.
• Increasing revenue capture from non-card methods like ACH and check.
• Reported gross profit margin compression of approximately 3.4% year-over-year in Q3.
• Q4 2025 outlook projects FCF conversion to be greater than 50%.

To be fair, the shift in payment mix towards ACH and check, while expanding monetization, contributes to the observed margin dynamics. The company is balancing competitive attractiveness with maximizing revenue per transaction across all payment types.