2017 Q3 Transaction Volume: €501M, +46%
Paris, November 7th, 2017, 5:45 p.m.: HiPay Group (ISIN code: FR0012821916 – HIPAY), a fintech company specialized in payments, announces its revenue for the third quarter of 2017.
|Payments – in million euros
|2017||2016 proforma1||Var. %|
|9 first months|
Commenting on the 2017 third quarter results, Grégoire Bourdin, Chief Executive Officer at HiPay says: “The sell-off of the micropayment division at the end of July allows HiPay to fully focus on the growth of its payment activity. The transaction volume processed during this quarter, 501 million euros which represents an increase by 46 % compared to 2016, supports the strategy we have chosen. Our investments in research and development are going on in order to always give more innovations and more added-value to our clients. This quarter’s results are meeting our expectations, especially thanks to a strong sales activity, and we expect keeping this high growth performance.”
A growing payment division
The payment division’s revenue reached 6 million euros for the third quarter (+35%). During the first nine months of 2017, the revenue increased by 30% compared to 2016, getting to 17.6 million euros in total. The combined transaction volume attained 1.45 billion euros for the first nine months, a growth of 54% compared to the same period last year.
Those results are in line with the repositioning strategy of the group with the sell-off of the micropayment division at the end of July. This sell-off allows HiPay to fully devote itself to the development of its payment activity, both in terms of human resources and investments.
Dozens of French merchants, as much pure-players as brick-and-mortar brands, chose to trust HiPay this quarter in the processing of their online and offline transactions. This dynamic also shared on the international scale as a dozen of non-French e-tailers joined the platform this quarter. Today, almost 50% of the transactions processed by HiPay are coming from outside France. Those new partnerships allow HiPay to strength its position in France and abroad.
A quarter full in innovations
If the second quarter of 2017 has been marked by the launch of HiPay Intelligence, an interface dedicated to clients’ data analysis, the third quarter saw the establishment of HiPay Sentinel.
As the combination of a scoring module and features based on Machine Learning algorithms, HiPay Sentinel is a technology allowing merchants to efficiently fight against fraud. After an initial filtering by the scoring module, Smart Decision automatically and intelligently treats transactions which needed a manual review before. This feature is a time and resources saver for merchants and a UX improvement for their clients. HiPay Sentinel is now a new step for HiPay’s technologic development.
In order to keep improving its products, HiPay is going to pursue its efforts in R&D in the coming months, and especially in the use of Artificial Intelligence. HiPay also wishes to consolidate its positioning as omni-channel payment provider by offering a smooth cross-channel journey and a unified CRM over all merchants’ sales channels.
Next financial communication: February 22nd, 2017 – 2017 Annual Results.