Co-Founder: David Lambert
Description:Founded in 2017 Transact365 has since become one of the leading global payment platforms in the UK. Headquartered in London, Transact365 works with over 800 merchants in five continents providing local payment processing solutions.
Founded in 2017 Transact365 has since become one of the leading global payment platforms in the UK. Headquartered in London, Transact365 works with over 800 merchants in five continents providing local payment processing solutions.
Opening new business opportunities
Traditionally, large multinational companies based in advanced economies have been the only type of businesses able to sell products and services in emerging markets such as Latin America, India and Asia. Despite rising consumer populations in these markets, SMEs have not been able to engage with these consumers. The reason for this stemmed from the lack of payment gateway solutions. In other words, SME merchants in the West did not have the connections or technological infrastructure needed to process local payments.
Transact365 is on a mission to change this, forming connections with local payment partners and providing payment solutions that merchants can easily integrate into their websites, thereby opening them up to a new world of opportunities.
One of the challenges facing the payments sector revolves around transactions failing. By focusing on the customer experience and recognising the needs of their merchants, Transact365’s chargeback level as this entry is written stands at 0.004% – an industry benchmark.
A fast-growing SME
Since launch, Transact365 has fast become one of the UK’s leading global payment solutions for merchants looking to access emerging markets. In its second year of European operation, it recorded a 300% increase in revenue between June 2020 and June 2021.
The growth announcement is the latest in a series of recent company milestones. In 2022 alone, Transact365 has successfully launched its payment services in India and Latin America while consolidating its existing market presence in Asia, Europe and Australia.
The scale and pace of Transact365’s yearly growth reflects the increasing demand among merchants to access both established and emerging markets through sophisticated payment systems. Up until recently, accessing all these markets was restricted by the lack of payment gateways – a challenge that has been effectively resolved by Transact365 which connects merchants with consumers around the globe. The fact that Transact365 has maintained a growth rate of well over 200% since its launch reflects the scale-up potential of the payments sector.
Sophie Flynn, current CFO of Transact365, is also a vocal supporter of greater diversity across the payments sector, ensuring her position encourages more women to enter the payments sector.
Transact365’s mission remains the same – increasing the volume of transactions taking place on the platform, building a network of merchants and local partners in both established and emerging markets, all the while focusing on the details and driving down things such as our chargeback ratio to record lows.
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