Transact365, a UK-based global payments platform, said on Wednesday that it recorded 300% year-on-year growth over its third year of European operations.
According to the press release shared with Finance Magnates, the chargeback ratio for Transact365 has fallen to a record low of 0.004% due to a large increase in transaction volumes. As a part of this industry benchmark, the payment solution platform provides 24/7 customer service while also fulfilling PCI Level 1 compliance and ensuring encryption through Secure Socket Layer (SSL) and Transport Layer Security (TLS), backed at the application level by the RSA algorithm.
Several company milestones have been announced recently, including the growth announcement. Transact365 launched its payment services in India and Latin America alone in 2022 while consolidating its existing market presence in Asia, Europe and Australia.
“The scale and pace of Transact365’s yearly growth reflects the increasing demand among investors to access both established and emerging markets through sophisticated payment systems. Up until recently, accessing all these markets was restricted by the lack of payment gateways, a challenge that has been effectively resolved by Transact365 which connects merchants with consumers around the globe. The fact we’ve been able to maintain a growth rate of well over 200% since our launch reflects the scale-up potential of the payments sector,” David Lambert, the CEO of Transact365, commented.
Popularity Rising over the Years
Lambert added: “Our mission remains the same: increasing the volume of transactions taking place on our platform, building our network of merchants and local partners in both established and emerging markets, all the while focusing on the details and driving down things such as our chargeback ratio to record lows.”
With its launch in 2017, Transact365 has quickly become one of the UK’s most popular global payment solutions. Between June 2020 and June 2021, the company’s European revenue increased by 700%.
