LONDON, July 1, 2020
LONDON, July 1, 2020 /PRNewswire/ -- Trust Payments Ltd, the global unified payments group for global pay-in, pay-out and customer journey technologies has today announced double digit growth in its 2019 statutory accounts.
In 2019, the management team led by Daniel Holden, Chief Executive Officer and Jonathan O'Connor, Chief Commercial Officer, instigated a major turnaround programme for the group, creating a new cloud-based payments platform and expanding the product range into Point of Sale.
The newly formed group now delivers true omnichannel payment processing, combining the previously branded Secure Trading gateway service with an in-house pan-European acquiring institution branded acquiring.com, together with a US-based dedicated payment platform.
Daniel Holden, CEO, commented: "We are delighted to announce such a strong and swift turnaround of these core assets in the payments market. While competition in the market is strong, we have created a unique suite of services, backed by a dedicated team to deliver huge revenue growth, solid profitability and a first-mover advantage in key verticals.
"The approach has been received very positively by merchants and partners and, despite the current turmoil with COVID-19, the business has continued to deliver north of 50% year-on-year growth.
"We invested very aggressively in our technology base, our onboarding product and automation. We also invested in our people, with 51 new hires joining the group in the first half of 2020 - showing our strength and credentials in attracting experienced talent."
Jonathan O'Connor, Chief Commercial Officer commented: "When we looked at a new name for the Secure Trading brand, we chose Trust Payments as it speaks to how we want to treat our customers. We are focused on being agile, personal and making quick decisions. This is why, despite the coronavirus pandemic, the Group continues to be one of the fastest growing payments companies in 2020. We are positive about the coming months as we start to support businesses around the world to open up, get back to work and ramp up processing of payments. The payments landscape changed indefinitely in the first quarter of this year, with many world events, but Trust Payments is in a great position to continue to support our merchants' demands for speed, quality and assurance."
The new group published a 6-month period of accounts to December 2019, showing Revenue of over £21m, and unadjusted EBITDA of £1.6m for the period. The group will now revert to annual accounts.
About Trust Payments Group
Trust Payments is a global unified payments group for global pay-in, pay-out and customer journey technologies. Our mission is to help businesses to optimise their sales and customer experience through facilitating speedy and seamless payments. Our single sign-on technology platform can process payments with over 50 global acquiring banks, including our own EU-licenced institution, acquiring.com.
Our community benefits from our 20+ years of payments experience and unrivalled customer focus. Our trusted and robust technology solutions deliver 1.6 bn transactions annually for 7000 active clients across eCommerce, mobile and Point of Sale (POS) and in 14 settlement currencies. We also operate in the US with money transmission services and gaming vendor licences in key regulated markets.