Payment solutions company Vincent has seen significant advances in the past couple years as it added new clients, expanded its team, and enhanced functionality.
The UPMC Enterprises portfolio company, which was formed by UPMC and University of Pittsburgh in 2017, gives large institutions control over individual disbursements, such as payments to research subjects and per diems for athletes. After launching with UPMC and Pitt as its first clients, Vincent has signed five additional customers.
“We’ve seen solid growth so far as more institutions recognize the benefits of our cloud-based software and reloadable debit cards,” said Beth Dubyak, President of Vincent.
Five universities are using Vincent to make payments to research study participants or for athlete per diems.
Vincent , which has processed more than $50 million in payments to over 750,000 research participants, has expanded its team by adding product management and customer service functions.
Vincent is continuing to grow in the academic and health care spaces and is branching out into new markets. The company replaces an inefficient cash-based process with a secure cloud-based and mobile-friendly system that is easy to administrate, provides regulatory compliance, and gives individuals fee-free access to payments.
While the company’s early focus was on fundamental functionality of Vincent solutions, the team is adding new features that make it the most unique offering in the market, such as variable payment types, robust 1099 tax reporting, and the ability to upload documentation, such as receipt images.
“I have always told my team that the progression of our product would be like going from shopping at Goodwill to Macy’s to Prada – it’ll cover you from looking nice to the best you can get,” Dubyak said. “We are in solid Macy’s country now and our sights are firmly set on Prada.”
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