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DELUXE CORPORATION

(DLX)
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Deluxe : Govolution by Deluxe and Fulton Bank Announce Strategic Partnership

07/14/2021 | 10:02am EDT

Govolution named preferred processor for bank’s government and municipal customers

Deluxe, a Trusted Payments and Business Technology™ company, today announced that Govolution, its ePayment solutions entity aimed at government organizations, has formed a new partnership with Fulton Bank to provide payment technology solutions for the financial institution’s government and municipal customers.

This partnership with the Pennsylvania-based bank will focus on:

  • Expanding consumer payment options with mobile, contactless and IVR solutions
  • Optimizing business operations through payment integrations
  • Providing comprehensive, consolidated business reporting to simplify account reconciliation and improve cash flow

Govolution by Deluxe has a long history of developing payment solutions designed specifically for government organizations, including the first electronic payment engine for the United States Department of Treasury. Today, the company processes more than 1.4 million transactions per day for government entities across the country. Govolution’s high standards surrounding innovative technology and data security are matched only by its commitment to superior customer service to maximize revenue of its clients.

“We chose Govolution because of their expertise in and commitment to the government vertical. Govolution, like Fulton Bank, is customer centric, and both their innovative payment gateway and extensive range of self-service payment channels are designed with the client in mind,” said Paul Czurylo, Commercial Product Team Leader at Fulton Bank. “There are dozens of payment processors, but when it comes to innovation, service and support, Govolution rises above the rest.”

“Govolution has invested heavily in technology, applying the highest standards to data security and creating payment solutions to help government organizations flourish in today’s digital marketplace,” said Mike LoMurro, President of Govolution by Deluxe. “This partnership underscores our reputation as a leader in payment technology and we are delighted that Fulton has chosen us as their preferred provider.”

To learn more, please contact Terry McHugh, Director of Channel Sales, at tmchugh@govolution.com or 609-298-6023.

About Govolution

Govolution, a wholly-owned subsidiary of First American Payment Systems acquired by Deluxe in June 2021, is a leader in ePayment solutions aimed at government organizations. The company developed and launched the first electronic payment engine for the United States Department of Treasury and subsequently deployed applications to more than 80 cabinet-level agencies. Govolution’s proprietary processing platform, Velocity, is security certified with all major payment processors in the United States. Learn more at www.govolution.com.

About Deluxe Corporation

Deluxe, a Trusted Payments and Business Technology™ company, helping businesses pay, get paid, optimize and grow. For more than 100 years, Deluxe has championed businesses so communities thrive at all stages of their lifecycle, from start-up to maturity. Our powerful solutions support millions of small businesses, thousands of financial institutions and hundreds of the world’s most valuable brands. The company operates at significant scale, processing more than $2.8 trillion in annual payment volume. To learn how we can help your business, visit us at www.deluxe.com, www.facebook.com/deluxecorp, www.linkedin.com/company/deluxe, or www.twitter.com/deluxe.

About Fulton Bank

Fulton Bank, N.A. is a subsidiary of Fulton Financial Corporation, a $25.2 billion financial holding company headquartered in Lancaster, PA. Fulton Bank operates more than 225 financial centers throughout Pennsylvania, New Jersey, Maryland, Delaware and Virginia. Learn more at FultonBank.com.


© Business Wire 2021
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Financials (USD)
Sales 2021 1 985 M - -
Net income 2021 88,1 M - -
Net Debt 2021 1 533 M - -
P/E ratio 2021 17,0x
Yield 2021 3,20%
Capitalization 1 597 M 1 597 M -
EV / Sales 2021 1,58x
EV / Sales 2022 1,42x
Nbr of Employees 6 123
Free-Float 99,3%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 37,53 $
Average target price 52,33 $
Spread / Average Target 39,4%
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Managers and Directors
Barry C. McCarthy President, Chief Executive Officer & Director
Scott C. Bomar Chief Financial Officer & Senior Vice President
Cheryl E. Mayberry-McKissack Non-Executive Chairman
Michael S. Mathews Chief Information Officer
Peter J. Godich Chief Operating Officer & Senior Vice President
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