About Deluxe

Deluxe Corporation provides payment solutions. The company has transformed to a modern payments and data company that champions business so communities thrive. The company supports millions of small businesses, thousands of financial institutions and hundreds of the world's largest consumer brands. The company sells its products and services primarily in North America. The company offers technology-enabled solutions, including merchant services, marketing services and data analytics, treasury management solutions, promotional products, and fraud and security solutions, as well as customized checks and forms. The company is also a leading provider of checks and accessories sold directly to consumers. Segments Merchant Services - This segment includes the electronic credit and debit card authorization and payment systems and processing services that it provides primarily to small and medium-sized retail and service businesses. B2B Payments - This segment includes treasury management solutions, including remittance and lockbox processing, remote deposit capture, automated receivables management, payment processing and cash application, as well as automated payables management, including Medical Payment Exchange and Deluxe Payment Exchange. Data Solutions - This segment includes data-driven marketing solutions, financial institution profitability reporting and business incorporation services. Print - This segment includes printed personal and business checks, printed business forms, business accessories and promotional products. Divestitures / Business Exits In June 2023, the company completed the sale of its North American web hosting and logo design businesses. Sales and Marketing The company employs a One Deluxe go-to-market model, deploying dedicated sales teams across its business segments to ensure it leverages the expertise within each segment to meet its customers' needs. The company listens to its customers and their needs first. The company employs a multi-channel sales and marketing approach, selling directly to financial institutions and major global brands. The company also sells its products and services through scalable partnerships, enabling it to reach customers, specifically leveraging its financial institution and other strategic partnerships. In addition, millions of in-bound customer contacts buying or reordering its products and services provide extensive cross-sell opportunities. Payments Merchant Services The company provides a full range of payment processing services primarily to small and medium-sized retail and service businesses, including nonprofit organizations. These services include credit card, debit card and electronic benefit transaction processing; check guarantee and conversion; and point-of-sale (POS) equipment leasing. The majority of merchant services revenue is generated by services priced as a percentage of transaction value or a specified fee per transaction, depending on the payment type or the market. The company distributes its services through multiple sales channels, processing approximately $40 billion in annual transaction volume. Payments are processed using a variety of methods, including in-person and online, and via recurring payments. Payments Treasury Management Solutions The company helps businesses pay and get paid. The company's solutions reconcile and manage its customers' invoices with all types and channels of payments, including paper and digital payments. The company's software and workflow tools automatically reconcile millions of payments, and it seamlessly integrates those payments with its customers' accounting software. After years of solving the complexity of lockbox processes, the company's software and workflow tools are embedded within its customers' systems, and more than 70% of the top 200 financial institutions use its item processing capabilities. Data Solutions Data-Driven Marketing The company leverages data and analytics to help its clients acquire more customers through end-to-end targeted marketing campaigns. The company's ability to target consumer and business audiences means that marketing recipients are less likely to skip the ad in their inbox or throw away a mailed product offer, and that translates into material growth for its clients. The company has one of the industry's largest repositories of data, with nearly 100 contributing sources, including credit bureaus, leading property data aggregators, and behavioral and trigger-based data providers. Promotional Solutions and Checks The company prints business and consumer checks that it distributes through banks and direct channels. Although check usage has been declining since the 1990s, checks remain a payment necessity for millions of consumers and businesses. According to its research, checks remain the most common payment method for non-payroll payments for mid-sized businesses (i.e., those with annual revenue between $5 million and $500 million). The company meets that market need by shipping over 90,000 packages of checks every day. Checks are complemented by its promotional products business. This business has sales and operating synergies with checks, providing items such as forms, envelopes and deposit tickets, which are often printed on the same equipment. The company also supports its print customers by selling relationship-deepening products, such as branding solutions and marketing materials. Seasonality Historically, the company has experienced seasonal trends with certain of its products and services. For example, Promotional Solutions holiday card revenue is typically stronger in the fourth quarter of the year due to the holiday season, while sales of Promotional Solutions tax forms are stronger in the first and fourth quarters of the year. Within its Data Solutions segment, the company's customers' marketing campaign cycles result in revenue fluctuations throughout the year, typically with less revenue in the fourth quarter of the year (year ended December 31, 2023). History The company was founded in 1915. The company was incorporated under the laws of the state of Minnesota in 1920. It was formerly known as Deluxe Check Printers, Incorporated and changed its name to Deluxe Corporation in 1988.