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Tyneside tech firm Emerchantpay sees revenues rise to $145m as global growth continues

2025-04-10 15:38:57 By

North Shields payment tech firm emerchantpay Group Ltd has posted its accounts

A Tyneside payment technology company has seen revenues rise to more than $145m on the back of international growth.

North Shields-based emerchantpay Group Ltd has posted accounts for the year ended August 31 2023 in which revenues increased 5% to $145.4m as it boosted its global footprint. Operating profits also rose, from $6.6m to $11.5m, while pre-tax profits increased from $10.2m to $13.5m. Total comprehensive income was $13.1m, up from $7.9m, and the group had cash balances of $35.9m.

The business – part of the wider US-owned emerchantpay Corp – aims to be a one-stop-shop for payment solutions, by offering services including payment gateways, approval technology for debit and credit card transactions and other payment methods, to customers around the world. The group said it has been growing its international capabilities by adding new payment solutions whilst boosting its geographic presence.

It operates three divisions – PSP (Payment Services Provider), Card Acquirer, which provides debit and credit card acquiring services to merchants in the UK and Europe, and eWallet, a growing focus operated under the brand name eZeeWallet – and all three saw increases in volumes in the financial year.

The group, which has bases in Sofia, London, Amsterdam, Munich, Bangalore, Sao Paulo and Boca Raton, said the financial year 2022/23 saw PSP volumes up by 13% to just over $2.8bn, card acquiring up by 6% to almost $4.3bn and the eMoney businesses up by 107% to $49.4m.

During the year the group launched its payment services business in India, relaunched in the US, and also explored expansion in Latin America. In Mexico, several payment solutions are set to launch later this year, with plans to extend them to Colombia and Argentina.

The group is also preparing to introduce payment solutions for international merchants targeting markets in Malaysia, Singapore, Hong Kong, Japan, and Australia, with launches expected by late 2024. The group’s employee numbers rose from 384 to 458 during the year, and are due to rise again on the back of “pivotal” projects.

The directors highlight further growth ahead, with a recruitment drive now under way, adding: “At the conclusion of the 2023 financial year, the group had strengthened its position, executing an accelerated headcount increase to support the completion of several pivotal projects.

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Finance

Bank of England expected to hold interest rates at 5%

2025-04-10 15:38:57

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Finance

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Finance

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Finance

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Finance

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Finance

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Finance

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2025-04-10 15:38:57

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Finance

Lush to end largest charitable giving scheme

2025-04-10 15:38:57

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