Card transactions doubled in 2022, compared to the same period of 2019
The financial institution Capital Financial Services SA, which operates under the Twispay brand, processed, in the first half of 2022, more than 500,000 card transactions, worth nearly 30 million euros.
While the number of transactions doubled compared to the same period in 2019, before the start of the pandemic, the total value is higher by around 10%. In addition, the average transaction has increased from 127 euros in 2019 to 53 euros in 2022.
“The fact that we have seen a higher number of transactions, with an average value lower by around 60%, is, in my opinion, a very good sign for online commerce. If, in the pre-pandemic period, digital transactions were fewer and more consistent, we are now seeing how they are starting to become part of our daily lives. The pandemic has acted as a catalyst for e-commerce, spurring more consumers to choose the services of e-merchants and helping to increase trust in these channels. Shoppers now place much more importance on the comfort and convenience associated with the e-commerce domain. This allows them to channel their time towards the activities that are really important to them and where they cannot be replaced,” said Augustin Dobre, CEO of Twispay.
The industries with the highest average transaction values in the first half of 2022 are technology sales (351 euros), insurance (187 euros) and airline services (165 euros).
The largest payment made with the card through the Twispay payment acceptance system exceeded the threshold of 12,000 euros (electronic products), while the smallest was 0.11 euros (courier services).
The study was conducted on the entire Twispay customer portfolio, which includes companies from Romania and the European Economic Area, such as BlueAir, Fit4You Delivery, AVStore. The transactions processed by Twispay were paid with cards issued both in Romania and in other countries around the world.
Twispay offers unique payment benefits and services to the Eastern European market
To meet the needs of e-commerce players and successfully manage the growing volume of transactions, Twispay is constantly investing in the development of its technical solutions, designed and optimized in-house.
“The fact that we develop and manage our own technical solutions in-house and that we benefit from the main Visa and Mastercard memberships gives us full control over the payment infrastructure and, implicitly, over the services and the degree of customer satisfaction” , said Ciprian Stoica. , director of the Twispay program.
In addition, the financial institution prioritizes the security of its customers’ funds. It holds backup accounts in 3 banks in Romania and in the German branch of JPMorgan, the result of a unique collaboration in the region. Twispay thus ensures that the funds of ts customers are deposited in special protection accounts opened and kept separate from the capital of the company, to which no one else has access, except the beneficiaries.
Twispay is also a strong vector for cross-border trade. Its e-money issuance and payment processing licenses for online transactions are issued throughout the European Economic Area, allowing the company to service online stores in the region. The financial institution also offers accounts in different currencies (GBP, EUR, USD, etc.), helping to eliminate exchange fees for both its B2B customers and e-commerce consumers.
“Twispay has positioned itself, since entering the market, as a complex supplier, a disruptive, in the area of payments and has served customers whose needs are not met by traditional payment processors. We spent our early years understanding player needs and local and national trends. Today, nearly 5 years later, we have an intuitive, efficient and customizable payment solution that helps online stores understand their revenue streams and consumer behaviors by providing them with a valuable selection of reports and measures”, concluded Augustin Dobre, CEO of Twispay.