13% growth in payment volumes, reaching 1.8 billion euros
Revenues of 13.6 million euros, a growth rate of 2%
Sustained sales activity with 75 new customers during the period
Confirmation of double-digit growth target for 2022
May 19, 2022 at 7am: HiPay, the fintech specializing in omnichannel payment solutions, announces its revenues for the first quarter of 2022.
in millions of euros
Sustained growth in payment volume and customer acquisition
HiPay reported 13% growth in payment volume to €1.8 billion in the first quarter of 2022, despite a challenging comparison base, as the first quarter of 2021 benefited from the last buoyant effects of the lockdown on e-commerce activity.
As expected, revenue growth was more moderate, up 2% over the comparable period. The decrease in revenue compared to volume can be explained mainly by the discontinuation of certain payment methods used by Gaming customers, with payment volumes transferred to less profitable methods.
During the quarter, HiPay recorded dynamic sales activity which is due to favorably impact revenues towards the end of the year. HiPay confirms its intention to hit double digit growth in 2022.
New references and confirmed interest in HiPay’s omnichannel offer in France
HiPay continues to capitalize on its strategy focused on tier-2 retailers, achieving between €1 million and €100 million in annual payment volume, and has secured a number of customer wins during the quarter. 45 new merchants chose HiPay in France, including well-known brands such as Hespéride, Irrijardin (home and garden furniture) and Oxybul (toys).
Brand’s are continuing the digital transformation that became so widespread during the pandemic, and this is reflected in interest for HiPay’s omnichannel offer, with 10 projects under discussion and two confirmed contract signings.
Consolidation of the retail position in Portugal, new segments in Italy and success of the new Gaming offers
In Portugal, the gain in market share was dynamic. In particular, HiPay signed a major contract with E.Leclerc to deploy payment solutions for online orders for its 21 Portuguese supermarkets. The group has also begun providing services for the Dispnal Pneus group in Portugal and Spain, a major regional player in the distribution of automobile tires. Lastly, obtaining the status of Ecommerce Connect platinum sponsor, the largest e-commerce networking event in Portugal, has further established HiPay’s image as a major player in the Portuguese payments market.
In Italy, HiPay expanded its industry presence to jewelry with the Binda Group and the famous Breil jewelry brand. It has also strengthened its position in the parapharmacy industry with the successful launch of Farmacia Castel del Monte and Sefirashop.
In Northern Europe, the new contract with RDX in the UK is off to a promising start. The group also won a major contract in Germany with auto & scooter parts distributor Streetbuzz.
The Gaming vertical continues to benefit from the opening of the Dutch market and the success of new offerings such as Cashless with its fast QR code deposit solution, which has attracted two of Belgium’s leading online casino platforms, Golden Palace and Napoleon Games.
Next financial communication: July 28, 2022 – Revenues for the first half of 2022.
Annie Hurley (CMO)
Jérôme Daguet (CFO)
This press release does not constitute an offer to sell or the solicitation of an offer to buy HIPAY securities. If you would like more complete information about HiPay Group, please refer to our website hipay.com, Investors section. This press release may contain certain forward-looking statements. Although HiPay Group believes that these statements are based on reasonable assumptions as of the date of this press release, they are by their nature subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by these statements. HiPay Group operates in a highly evolving sector in which new risk factors may emerge. HiPay Group does not undertake any obligation to update these forward-looking statements to reflect new information, events or other circumstances.