Atlanta, GA – June 23, 2022 — Paya (NASDAQ: PAYA), a leading integrated payments and commerce solution provider, today announced its CIO Balaji Devarasetty was recognized by Constellation Research on the 2023 Business Transformation 150 (BT150), an elite list of executives leading business transformation efforts around the globe.
Balaji Devarasetty is a proven technology leader with over 20 years of experience bringing software products from concept to market in the banking, crypto, and payments industries. As Paya’s CIO, he oversees product engineering, product management, infrastructure, and cybersecurity for the company. Devarasetty previously served as the CIO of the integrated payments business unit at Vantiv and was a founding member of crypto startup Bakkt, which he helped take to IPO in 2021.
In his role as CIO, Devarasetty was part of the executive team that grew Paya’s payment volume by 23.5% YOY for Q1 of 2022, and Paya’s revenue by 19.3% during that same period.
“I’m honored to be named to the Constellation Research BT150, joining a group of incredible leaders that are changing the way businesses operate,” said Devarasetty. “This recognition is a testament to the work we do at Paya, ensuring that hundreds of thousands of businesses have innovative payment solutions that enable them to adapt and navigate the post-pandemic digital world.”
“The commercial results we have achieved and the client and partner experiences we deliver are a direct reflection of our innovative technology solutions,” said Michele Shepard, Paya’s chief commercial officer. “Through Balaji’s leadership, Paya is well-positioned to accelerate its growth and the value we deliver.”
Nominations from peers, industry influencers, technology vendors, and analysts powered the six-month selection process. Devarasetty was selected for demonstrating a keen understanding of how the business environment is transforming in response to digital and exponential technologies, and is actively preparing Paya to excel during and after the transformation.
“This year’s extraordinary cadre of business and technology leaders have successfully guided their organizations from the pandemic into the Great Refactoring,” noted R “Ray” Wang, founder and CEO at Constellation Research. “In this environment, where an organization’s mission and purpose, work-life balance, and business models and monetization have shifted, only a special individual can find the right balance between transformation and optimization. This year’s BT150 have demonstrated why they are invaluable not only to their organizations but also to the greater industry ecosystem.”
Paya is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. The company processes over $40 billion of annual payment volume across credit/debit card, ACH, and check, making it a top provider of payment processing in the US. Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high-growth verticals such as healthcare, education, non-profit, government, utilities, manufacturing, and other B2B end markets. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Paya is headquartered in Atlanta, GA, with offices in Reston, VA, Fort Walton Beach, FL, Mt. Vernon, OH, and Dallas, TX. For more information about Paya, visit www.paya.com. Follow us on Twitter (PayaHQ) and LinkedIn (Paya).