Pushpay chief executive Bruce Gordon will return home to the company’s New Zealand headquarters this month after an eventful stint in its US offices, which began with his appointment in May of last year.
“I haven’t seen my family since January, so it’s probably time to come home and say hello,” he laughs.
Its first 15 months may have been tough, but it has been fruitful for the ASX-listed company, which has grown into a $ 2 billion market phenomenon, with an unusual business pitch compared to the crowd-driven. the millennium buy now, pay later (BNPL).
Pushpay offers cloud-based transaction and operations services to the American religious sector, best known in Australia for charismatic pastors like Billy Graham and Jerry Falwell, charging churches a fee in exchange for their offer of a payment system. mobile for donations. The fintech is backed by the wealthy New Zealand family Huljich, who own a 15.7% stake in the company.
“It’s a very large market, over $ 130 billion is donated annually to religious organizations in the United States, so we focused specifically on the United States as a primary market and we are providing our service to about 340,000 churches, ”Gordon said.
For the fiscal year ending March 31, Pushpay processed $ 5 billion in donations for the 10,500 churches that use its technology. This includes Hillsong’s U.S. operations and the majority of the nation’s 100 largest churches.
“We still have a lot of opportunities to go there, and of course, with the advent of COVID-19, there has been a significant shift towards digital platforms,” Gordon said.
Pushpay has found favor during the pandemic because it offers much more than a digital payment option. His solution combines a mobile app with a background church management system – similar to a customer relationship system and operations management – creating a platform that not only manages a church’s digital relationship with his flock, but also what Gordon calls their “gift”.
“Sermons are recorded midweek now and broadcast throughout the week. We have churches that hold services seven times on Sundays and our larger churches, some of which reach over 300,000 attendees during the course. of a week thanks to digital streaming via the mobile app, ”says Gordon.