For many years, the correctional space has been dormant when it comes to technology, but thanks to the efforts made by companies like Securus Technologies, the correctional industry is thriving today like never before. New technologies are being designed and developed by Securus Technologies to ensure consistent progress in the penitentiary sphere. The company recently announced that it had invested around $600 million to acquire new technologies as well as for patent acquisition. It is necessary for the companies these days to advance their technologies if they want to lead in their respective niches, and Securus Technologies has been doing this consistently over the years.
One of the things that Securus Technologies has been focusing on is acquiring new companies in the correctional sphere. It would help the company to expand its operations and learn new technologies that would help in business expansion as well as increase its product portfolio. Securus Technologies recently acquired GovNetPay, which has been dominant, played in payment processing services for nearly two decades. Payment processing is one of the most critical correctional services, and GovNetPay has made rapid advances in the penitentiary technology, which is what Securus Technologies noticed.
Securus Technologies has been eyeing expansion in the payment processing business for the last many years, and acquiring GobPayNet is a part of this expansion strategy. The company would help the consumers get easy access to technology to make government payments swifter and reliable. Before Securus Technologies acquired GovPayNet, it also acquired Jpay Inc, which is another payment transfer service provider. It goes on to showcase the sincerity of Securus Technologies and its determination to lead the payment processing business in the United States. At the moment, Securus Technologies along with GovPayNet is processing more than 40 million transactions annually, which is a number that is going to go up soon.