Transact365, a UK-headquartered payments platform supporting merchants across the world, has recorded 300% YoY growth during its third year of European business operations.
Established in 2017, Transact365 provides an international payments solution platform for merchants in major industries. With head offices in London, Transact365 currently works with more than 800 merchants to access digital commerce opportunities in five continents via domestic payment processing solutions.
Since inception, Transact365 has become one of the United Kingdom’s major international payment solutions for merchants looking to tap into emerging markets. In its second year of European operations, the firm reported a 700% surge in revenue between June 2020 and June 2021.
With transaction volumes growing fast, Transact365 chargeback ratio has reached an all time low at 0.004%.
In order to achieve this industry benchmark, the payment solution platform works with all its merchants on a consultancy basis, offering 24/7 customer care, while adhering to PCI Level 1 compliance and ensuring encryption via 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.
This recent announcement is the latest in a series of key milestones for the firm.
In 2022, Transact365 has introduced its payment services in India and Latin America while solidifying its market presence in Asia, Europe and Australia.
David Lambert, CEO at Transact365, commented on the growth figures as a reflection of the rising 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.”