📅 May 18, 2020

Results of the Paysera LT audit: revenue increased by 15%, transfer turnover approached EUR 6 billion

One of the largest Lithuanian electronic money institutions, Paysera LT, generated EUR 11.05 million last year, which exceeded the results of the previous year by more than 15 per cent. 2.7 million transactions were carried out through the Paysera payment system throughout last year, amounting to a total of EUR 5.9 billion.

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The company's audited net profit last year reached EUR 2.02 million and was 5 per cent higher than in 2018.

"Last year's financial results were solid, and the main growth factor was expansion to other countries," says Vytenis Morkūnas, Paysera LT CEO. This year, the Paysera network will continue to expand abroad, which means more favourable exchange rates and even more opportunities for customers in Lithuania to send money at the recipients’ domestic rates.

Among other things, last year the company acquired a business centre on Pilaitės pr., Vilnius, to which the staff moved from the previous office on Mėnulio Street. The company opened a client service centre on the first floor of the building and can now serve twice as many clients as before.

This year, when companies started moving their services online due to the lockdown, the need for Paysera LT-powered online payment gateway solutions increased.

"During the quarantine, many e-shops increased their online sales, while others went online for the first time. Because of this, for the last two months, we have been actively working to allow shoppers to pay online and merchants to accept these payments. During April, we activated our payment gateway solutions for more than 800 different e-shops in Lithuania and abroad,” says V. Morkūnas.

Last month, Paysera's payment gateway solutions were integrated by companies such as Sanitex, BENU Pharmacy, Žemaitijos Pienas, and Moki Veži.

Lietuvos banko pateikiamais duomenimis, „Paysera LT“ 2019 m. ketvirtojo ketvirčio pabaigoje užėmė didžiausią dalį – apie 16 proc. – el. pinigų leidimo ir mokėjimo paslaugų rinkos. „Paysera LT“ pirmavo el. pinigų rinkoje ir pagal bendrovės sąskaitose klientų laikomas lėšas (per 212 mln. EUR), artimiausią šios rinkos konkurentą lenkdama maždaug keturis kartus. Klientų laikoma pinigų suma per metus išaugo daugiau nei 75 proc.

About Paysera

Paysera provides money collection, transfer, currency conversion, event ticketing, and other payment solutions. About 90% of electronic stores in Lithuania use Paysera LT payment collection solutions. Over EUR 16 million transactions are made daily through the Paysera payment system and mobile app. International money transfers are made in 23 currencies and reach 180 countries worldwide. Paysera network companies in Lithuania and abroad employ over 250 people. Paysera LT is the first Lithuanian fintech company to receive an electronic money licence.