Simpay Announces Plans to Offer More Voluntary Residual Buybacks

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 its voluntary buyback program, and the company is 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.

The Financial Benefits of Voluntary Residual Buybacks

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 and sell sustainable sales portfolios. 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 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.”

Residual income is a cornerstone financial strategy for many businesses, including Independent Sales Offices. This form of income, which continues to flow even after the initial work has been completed, offers a reliable and sustainable financial stream. In today’s volatile market, having a source of income that is not directly tied to hours worked or sales made each month can provide a significant safety net. 

About Simpay

Simpay is a Trevose, Pennsylvania-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 [email protected].

Source: Simpay

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Simpay is delivering on its vision to provide our clients with a 360° Total Business Solution, encompassing virtually every stage of a business' life-cycle.

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