Strong payment volume growth in a challenging environment
Sustained business development with 151 new key accounts signed in the first half of the year
July 28, 2022 at 7:00 am: HiPay, the fintech specializing in omni-channel payment solutions, announces its revenue for the first half of 2022.
In millions of euros
Increase in payment volume and moderate growth in revenue
HiPay announces a payment volume of 3.6 billion euros, representing a 12% increase compared with H1 2021, in contrast to an already challenging point of comparison. The first half of 2021 was stimulated by the lockdowns imposed across Europe. In the first half of 2022, adverse geopolitical and macroeconomic events negatively impacted consumer spending and business investment decisions, but did not negatively impact trends in the electronic payments market.
The strong momentum in payment volumes seen across all market segments is only partially reflected in revenues. The discontinuation of a number of payment methods in the Belgian market saw the transfer of a proportion of payment volumes to other, less lucrative, methods.
Successful business development
HiPay recorded a high level of sales activity in the first half of the year along with an increase in market share, thus attesting to its ability to perform in a difficult economic environment. The group expanded its business relationships with tier-22 retailers, expanding its reach with new brands by leveraging its omni-channel offering. HiPay also continued its European expansion with its share of payment volumes completed outside of France increasing to 39% over the period, an increase of +1 point compared to H1 2021.
HiPay’s omni-channel positioning attests to its popularity in France
HiPay’s business in France is driven by retailer appetite for its unified commerce offering which accounted for almost a third of new initiatives and nearly 15% of contracts signed in the first six months of the year. 38 new clients were signed in numerous vertical channels, thus strengthening HiPay’s multi-specialist positioning. As such, HiPay added a number of well-known French brands to its portfolio, including Dodo, Jott, EasyParapharmacie, Atmosphera and V33.
New retail brands in Portugal and Italy and international growth for iGaming
In Portugal, 32 new customers began using the HiPay platform in the first half of the year, including high-profile brands like 360Imprimir, Canté and SMEG.
In Italy, the luxury group Binda (jewellery and watchmaking) signed on in the first quarter and launched its flagship brand, Breil. It subsequently extended its partnership with HiPay to include its Hip Hop brand. HiPay also completed its first integration with Apple Pay in Italy on behalf of Freddy (a fitness clothing brand).
iGaming continues its steady growth in the Netherlands with the launch of Circus.nl and continues to expand internationally with four new contracts, including Bem's, the leading Belgian distributor of video games and related products.
Strong sales momentum with new accounts ready to come on board in the second half of the year allows HiPay to expect accelerated growth for the remainder of 2022.
Next financial update: September 15, 2022 – Results for the first half of 2022.
1 Non-audited financial data
2 Annual payment volumes of 1-100 million euros
HiPay is a global payment service provider. By harnessing the power of payment data, we help our merchants grow by providing them with a 360-degree view of their business.
For more information, to go hipay.com. You can also find us on LinkedIn.
HiPay Group is listed on Euronext Growth (ISIN code: FR0012821916 – ALHYP).
Annie Hurley (CMO)
Jérôme Daguet (CFO)
This press release does not constitute an offer to sell nor the solicitation of an offer to purchase HIPAY. If you wish to obtain more information on the HiPay Group, we invite you to refer to our website at hipay.com, under “Investors". This release may contain certain forward-looking statements. Although HiPay believes these statements are based on reasonable assumptions as of the date of this release, they are inherently subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by these statements. HiPay Group operates in a highly-evolving industry in which new risk factors may emerge. HiPay Group assumes no obligation to update these forward-looking statements to reflect new information, events or circumstances.