About SurgePays

SurgePays, Inc. focuses on building a supply chain software platform that offers wholesale goods and services as an alternative to traditional wholesale supply chain distribution models.

The company offers wholesale goods and services direct to convenience stores, bodegas, minimarts, tiendas and other corner stores, providing goods and services primarily to the underbanked community. The company’s products are distributed nationwide using its direct to store distribution system that reaches more than 8,000 outlets. The company markets its products using a range of marketing mediums, including in-store merchandising and promotions, experiential marketing, sales spiffs and incentives, digital marketing and social media, and internal regional salespeople.

Surge Marketplace Software

Surge Marketplace Software allows the merchant to use the portal interface, which is similar to a website, with image driven navigation to add wireless minutes to any prepaid wireless carrier’s phone and access to other services, such as bill payment and loading debit cards. It also offers the merchant the ability to order wholesale consumable goods at a discount through the portal with one touch ease. The company is essentially a wholesale e-commerce storefront that offers products direct from manufactures.

SurgePays Blockchain Software

SurgePays Blockchain Software is a multi-purpose e-commerce platform offering wholesale goods and services direct to convenience stores, bodegas, minimarts, tiendas, and other corner stores providing goods and services primarily to the underbanked community. The merchant or clerk is able to use the portal interface – similar to a website – with image driven navigation to add wireless minutes to any prepaid wireless carrier’s phone and access to other services, such as bill payment and loading debit cards. The company is essentially a wholesale e-commerce storefront that offers products direct from manufactures while cutting out the middleman. These products include herbal stimulants, energy pills and shot drinks, dry foods, communication accessories, novelties, paycheck protection program products, bagged snacks, processed meats, automotive parts, and many more goods, all in one convenient wholesale e-commerce platform.

Electronic Check Services, Inc. (ECS)

ECS has been a financial technology tech and wireless top-up platform. ECS is a fintech transactions platform processing over 20,000 transactions a day at approximately 8,000 independently owned retail stores.

LocoRabbit Wireless

LocoRabbit Wireless offers prepaid wireless plans with talk, text, and 4G LTE data. Available nationwide, LocoRabbit Wireless is sold online direct to consumers and by a nationwide network of convenience stores, gas stations, mini-marts, bodegas, and tiendas connected to the company’s software platform.

True Wireless

True Wireless is licensed through the United States Federal Communications Commission to provide lifeline service (subsidized wireless service to qualifying low-income customers) in 5 states. Utilizing the T-Mobile wireless backbone, True Wireless provides discounted and free wireless service to veterans and other disadvantaged customers who qualify for certain federal programs, such as SNAP (EBT) and Medicaid.

Surge Logics, Inc. (Logics)

Logics is a wholly owned subsidiary that operates as a performance-driven marketing firm focused on the mass tort industry for attorneys and law firms. The company primarily performs client acquisition and retention services for attorneys and law firms by operating digital marketing campaigns, called performance campaigns, using its proprietary technology and data-driven analytics. These performance campaigns enable its attorney and law firm advertising clients to connect with potential clients they are seeking to represent in existing or planned litigation. The company’s customized performance campaign offers are targeted at clients interested in completing signed retainers.

Centercom Global, S.A. de C.V. (Centercom)

In 2019, the company announced the completion of an agreement to acquire a 40% equity ownership of Centercom. Centercom is a dynamic operations center providing the company with sales support, customer service, IT infrastructure design, graphic media, database programming, software development, revenue assurance, lead generation, and other various operational support services. Centercom also provides call center support for various third-party clients. Centercom is based in El Salvador.

Centercom has been built to support the infrastructure required to scale in synergy and efficiency to support the company’s sales growth, customer service and development.

Centercom manages or supports various processes, such as sales and contract processing; customer service and support; software development and integration; data processing and programming; multimedia and graphic design services; email and live chat support; merchant support and onboarding; and lead generation and live transfer.

Strategy

The key elements of the company’s growth strategies include developing a powerful, performance-oriented, and metric-driven organizational culture; developing sales/trade tool kits to empower its sales force network and ISOs to engage with customers nationwide; developing brand/marketing tool kits for current and new brands and segments; expanding distribution of same store sales with current clients, while adding new clients; strengthening its supply chain to achieve best in class costs, on-time/as promised logistics and superior customer service; improving gross product margins with rearchitected cost of goods sold, improved efficiency, and improved net revenue with new products; continuous development and improvements to its software platforms improving efficiencies and overall clients experience; upgrading infrastructure, systems and processes with enterprise resource planning systems, improved financial reporting, operating expense control, and strengthened key metrics and accounting and control procedures; and strengthening its financial foundation via accessing the capital markets, solidifying long-term banking partners and facilities, and pursuing transformative organic and acquisitory growth.

Seasonality

The company experiences some seasonality whereby the peak tax season months show a higher level of sales and consumption. However, the structure of its business and range of products in its portfolio mitigate any major fluctuations. The company’s revenue during the peak tax season months in the spring have historically been approximately 5% greater than the peak other months, and as its product portfolio continues to expand, the level of seasonal peaks it expects to diminish.

History

The company was formerly known as Surge Holdings, Inc. and changed its name to SurgePays, Inc. in November 2020.