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Q3 2021 HiPay posts a strong revenue increase (+17%) and confirms its growth trajectory
Q3 2021
HiPay posts a strong revenue increase (+17%) and confirms its growth trajectory
Revenues1 up +17% vs. Q3 2020, driven by a +14% increase in payment volume.
79 new key client accounts signed during the trimester.
HiPay's business growth in line with the accelerating digitalization of the economy and the growth of the payment industry, whose overall revenues are expected to double by 2030.2
Paris, October 28, 2021: HiPay (ISIN code FR0012821916 - ALHYP), the fintech specializing in omnichannel payment solutions, announces its Q3 2021 revenues.
In millions euros | Q3 2021 | Q3 2020 | Var. % |
Payment volume | 1 478 | 1 293 | +14 % |
Revenues1 | 12.3 | 10.5 | +17 % |
January to September 2021 | |||
Payment volume | 4 678 | 3 813 | +23 % |
Revenues1 | 39.1 | 32.2 | +21 % |
Continued revenue growth in the third quarter
In Q3 2021, payment volume reached €1.478 billion (+14% vs. Q3 2020) and revenues stood at €12.3 million (+17% vs. Q3 2020).
The steady increase in revenues highlights the strength of HiPay’s model and its ability to leverage new growth drivers linked to the digitalization of the economy.
HiPay's business development is supported by the strong underlying growth of the e-commerce industry, further reinforced by new consumer trends and successive lockdowns. In 2020, a total of 112 billion ecommerce payments were processed in France alone. The e-commerce penetration rate is expected to continue to grow to 25% of market share by 2025, a trend observed throughout Europe.
HiPay welcomes new European market-leading clients and confirms its commercial momentum
HiPay is consolidating its strong position in the fashion, home furnishings and decoration sectors with the signing of a several new clients: Jonak, Le Coq Sportif, Majestic Filatures, Made in Meubles, Menzzo and Lit de France.
HiPay is strengthening its European footprint with the signing of local established companies, especially in Italy and Portugal: Passione Unghie Cosmetica, Teddy Group, Seaside, Kicks and Bwin Portugal in particular.
HiPay's revenues and payment volume growth in Q3 was driven by merchants' focus on adding value to their payment experience to make it seamless and simple.
An omnichannel offer adapted to customers' needs
Growth of e-commerce and new consumer habits are increasingly leading more and more merchants to implement a unified commerce strategy and to digitalize their points of sale.
Following the implementation of its order-in-store solution in the Nocibé store network, HiPay is now supporting ID Group in the setting up of the solution for Okaïdi stores.
HiPay is installing new connectors to enable its merchants' payment terminals to be driven directly from their primary checkout, facilitating the centralized management of their activity.
Next financial communication: February 24, 2022 / 2021 Revenue
About HiPay | |
Press Contact | Investor Relations |
Jawad Khatib (Vae Solis Communications) | Jérôme Daguet (CFO HiPay) |
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.
1 Unaudited data
2 According to the Boston Consulting Group's annual Payments Market Report (2021)
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