Securus Technologies recently announce their acquisition of the payment processing company GovPayNet. Securus, a technology provider for public safety, law enforcement, corrections agencies and inmates, believes this merger will play a key role in the company’s objective of expanding their payment servicing division.
GovPayNet allows over 2,300 government agencies to process credit and debit card payments for court costs, fines, bail, traffic violations, and real estate and property taxes.
Securus Technologies’ President and CEO, Robert Pickens, says he is looking forward to adding GovPayNet to their list of products offered. He also praises Mark MacKenzie, GovPayNet’s CEO, pointing out the twenty years of experience offering high quality services and excellent customer satisfaction in the industry. Combining with GovPayNet has allowed Securus to process over 40 million payments a year.
Mark MacKenzie is also looking forward to the acquisition, as he feels GovPayNet will be able to expand their capabilities and add new services.
Based in Dallas, Texas, Securus Technologies is a leading inmate communications provider. Securus uses technology such as smart phones, tablets and PCS to connect inmates with the family and friends. More than a million inmates nationwide use phone services, video services, jail voicemail, money transfer and more provided by Securus.
Securus recently as reported by PR Newswire had a press release where the company detailed steps they are taking to improve their business. Over the past couple of years, the company’s products and services have increased in popularity. There are many people who believe the prison system needs reform. Anyone who wants to reduce the cost of prison to the taxpayers should try to help inmates. Inmate security is by far the largest expense for the system overall. Securus works to provide security cameras and video for people on the inside. Instead of having to wait for visitation, inmates can now talk to people via a live stream.
There are few companies passionate about improving the prison experience. However, Securus now has a nice niche in this marketplace. Over the past couple of years, the company has worked tirelessly to build up a business from the ground up. Few investors want to invest in a company that helps inmates. Securus makes a high margin on the products they sell, and they also earn a nice revenue stream from the video conferencing as well. From a financial perspective Securus is in a great spot. Marketing to prisons across the country may be a little more difficult. States must be willing to invest money to change the prison system for the better. The idea is that states can spend money now, and later they will save money annually on lower prison costs.
Although Securus America is a relatively young company, they have done a great job of trying to help prisons throughout the country. Inmates want a better prison experience, and states want to reduce the overall cost of housing someone in jail. This is one of the biggest reasons why the company has grown so quickly over the past couple of years.