New Zealand mobile payments company Pushpay has bought SMS marketing technology developer Run The Red, adding to its stack of enterprise technologies.
Pushpay is reportedly heading towards a compliance listing on the New Zealand Stock Exchange after recent capital raising.
Pushpay says its platform is making "significant inroads" into not-for-profit organisations and the faith sector in the US, recently securing a distribution partnership potentially involving over 3,500 churches.
Pushpay bought the business assets of Run The Red Limited for an undisclosed sum. Run the Red Limited has since been renamed Papillon Technology.
Founded in 2001, Run The Red integrates text messaging with business applications using an SMS Gateway. It says it delivers over 150 million targeted text messages a year. Customers in New Zealand and the South Pacific include Westpac, Vodafone, Sky TV, Z Energy, Facebook and The Department of Internal Affairs.
“Their technology will enable us to integrate mobile payments through SMS and mobile messaging, which is especially useful for enterprise clients," said Mr Chris Heaslip, CEO of Pushpay. "It also significantly boosts our technology stack allowing us to offer the same technology to our other target markets."
Run The Red will continue to trade under its current name in New Zealand under current CEO Ben Northrop.
Northrop said payments are the natural next place for enterprise text messaging to go.
"It’s inevitable that we’ll pay bills on our phones because there’s convenience and cost reduction for both consumers and businesses.
"Think about it as a consumer - you receive an overdue bill reminder and you’re able to pay it with one click from within the reminder text message. Consumers save penalty charges and hassle. Businesses save costs."