Securus Technologies announced in the past that they would be acquiring GovPayNet sometime in 2018. GovPayNet is a payment processing company that processes payments which are directed to government agencies. The company clarified that they are not working for the government. The executives at Securus Technologies thought that buying the company would make their stocks soar, and it can also increase the value of the company. The company wanted to draw more investors, which is why they are doing everything that they can to be noticed by international business people. The payment system from GovPayNet is one of the reasons why the company became an instant hit. According to Securus Technologies, they will be integrating the system to their own and see how well it would work out. A partnership between Securus Technologies and GovPayNet is one of the highlights of the corporate world this year.
GovPayNet was established in 1997, and a sheriff who found out that it is a hassle for his people to process their fees and fines thought of a brilliant idea. He asked for the assistance from several people who knows something about the computer and created a program that can process their payments. 20 years later the company became well known all throughout the United States, with more than 26% of the entire number of counties in the country using it.
More than 40 million payment are planned to be processed every year now that GovPayNet is under the ownership of Securus Technologies. The payment processing company is looking forward to a lot of changes now that they are under the ownership of the leading telecommunications company in the United States. Securus Technologies is a proud partner of more than 3,000 correctional facilities in North America, and they are planning to integrate the payment system for the convenience of their clients.