PAYS | Market Cap: $509.9M (07/13/26)
Industry:
Financial Services

DESCRIPTION

Paysign is a prepaid card program manager and payment processor operating across two core markets. In plasma donor compensation, Paysign provides prepaid debit cards that plasma donation centers use to pay donors after each session. Paysign manages the full card lifecycle — issuance, fund loading, cardholder enrollment, and customer service — and serves roughly 595 plasma donation centers across the U.S. and Puerto Rico, representing approximately 48-50% market share. In pharmaceutical patient affordability, Paysign processes co-pay assistance claims and manages prepaid card-based payments on behalf of drug manufacturers, helping reduce patients' out-of-pocket costs and improving manufacturer enrollment and adherence metrics. A key differentiator here is Paysign's proprietary "dynamic business rules" technology, which operates in real time at the point-of-sale to help manufacturers combat tactics that redirect co-pay assistance funds away from their intended use. Paysign earns fees at multiple points in both businesses: in plasma, through card load fees, interchange, and inactivity fees; in patient affordability, through program setup fees, recurring monthly management fees, per-claim transaction fees, and add-on service fees. Paysign does not hold a banking license and issues cards through sponsor bank partners. Paysign is also developing a nascent SaaS platform for plasma collection operators, pending FDA clearance, which would expand Paysign's role from payment processor to broader technology partner.

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