Transact365, a UK-based global payments platform powering merchants across the globe, has recorded 300% year-on-year growth in its third year of European operation.
Founded in 2017, Transact365 offers a global payments solution platform for merchants across the world in leading industries. Headquartered in London, Transact365 now works with over 800 merchants to access e-commerce opportunities in five continents through local payment processing solutions.
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 700% increase in revenue between June 2020 and June 2021.
With transaction volumes increasing, Transact365 chargeback ratio has hit an all time low at 0.004%. To achieve this industry benchmark, the payment solution platform works especially close with all its merchants on a consultancy basis, providing 24/7 customer care all the while fulfilling PCI Level 1 compliance and ensuring encryption through Secure Socket Layer (SSL) and Transport Layer Security (TLS), backed at the application level by the RSA algorithm with a key length of 2048 bits.
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.
David Lambert, CEO of Transact365, commented on the latest growth figures as a reflection of the growing demand from merchants for payment service providers offering payment gateways.
“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 we’ve been able to maintain a growth rate of well over 200% since our launch reflects the scale-up potential of the payments sector.
“Our mission remains the same - increasing the volume of transactions taking place on our platform, building our 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”.