Pushpay Holdings (NZSX:PAY) has increased its merchant numbers by 111 per cent over the six months to September 30.

The company has exceeded its growth target by 11 per cent, ending the half year with 2,102 merchants. Pushpay’s target was to grow its customer base from 996 merchants as at March 31 by over 100 per cent to more than 2,000 merchants in the six months to September 30.

Chris Heaslip, Pushpay’s CEO said, “Pushpay has had six months of phenomenal growth, we have exceeded our targets by 11 per cent having increased our merchant numbers by 111 per cent in the six months to September 30. We will continue to execute on our USA growth plan and the company is now targeting an increase in merchant annualised committed monthly revenue (ACMR) of over 100 per cent to more than $28 million in the six months to March 31 2016.”

Pushpay continues to gain market share in the US faith sector, which consists of over 314,000 churches with an average size of over 500 attendees.

Highlights for the quarter ended September 30 include: merchant ACMR increased to $13.97 million and client ACMR remained stable at $4.07 million; ARPM increased to $570 per month, up 16.09 per cent from $491 per month as at March 31; launch of  eChurch Apps, a custom app building solution that allows churches to create and customise their own branded apps for iOS and Android; development of Fastpay, which allows app vendors to integrate a five second giving experience into their mobile apps with very little configuration; and expansion of the digital giving feature set for its main target market, the US faith sector, by developing virtual terminal/envelope giving functionality.