Trevose, PA | September 9th, 2024.
Initiative enables Independent Sales Offices to gain immediate financial liquidity.
Simpay has renewed its commitment to offer voluntary residual buybacks to Independent Sales Offices and W2 direct sellers. In 2023, Simpay purchased more than 130 residual portfolios as part of their voluntary buyback program, and they are set to acquire more by the end of 2024 and Q1 of 2025. This initiative enables Independent Sales Offices to convert their residual income into a lump sum, providing immediate financial liquidity.
This flexibility is particularly beneficial for sales offices looking to invest in growth opportunities, pay off debts, or simply capitalize on their earnings. The ability to choose between ongoing residual income, a partial buyout, or a total portfolio purchase gives sales offices a powerful tool to manage their financial strategies effectively.
Chief Sales Officer, Josh Elsass says, “Simpay has emerged as a key partner for Independent Sales Offices looking to build a sustainable sales portfolio. By working with us, sales offices can tap into a range of services and products that generate residual income. This includes payment processing solutions, payroll services, and other business essentials that clients regularly need and use. A collaboration with Simpay allows sales offices to diversify their offerings and create a more robust portfolio. This enhances their value proposition to their clients and ensures multiple streams of residual income, raising the enterprise value of their portfolio. What that means in plain terms is that sales offices can build their portfolio with us, knowing they’re vested from day one, and can sell all or part of their portfolio whenever they’re ready to”. Elsass goes on to say, “We also provide a residual acquisition program for Independent Sales Offices who do not currently work with Simpay, who are looking to consolidate or cash out portfolios they’ve built elsewhere. We’re looking to purchase qualified books of business.”
About Simpay
Simpay is a Trevose, PA-based Fintech company, providing integrated payment acceptance, Human Capital Management services, commercial insurance coverage, and growth tools for businesses across North America.
Simpay delivers on its vision to provide clients with a 360° Total Business Solution, encompassing virtually every stage of a business’ life-cycle. Since our very beginnings in 2000, our commitment to simplicity, quality, and transparency has been the basis of everything we do.
For more information about Simpay, visit www.simpay.net or email Marketing@simpay.net
Source: Simpay
