The rapid growth in digital payments and e-commerce in recent years, accelerated further by the Covid-19 pandemic, has resulted in a striking rise of payments fraud. xcritical’s own research finds that 39% of businesses report an increase in fraud attempts over the last 12 months, while just 60% have effective fraud systems in place. With payments fraud becoming a critical challenge to business across all industries, network tokenization is key to creating a future of secure, and seamless online payments. The Company offers a platform that enable merchants and businesses to process payments online, mobile, and point-of-sale systems with payment methods including card schemes, mobile wallets, and other local methods. We started with payments, at a time when providers offered services based on a patchwork of systems built on outdated infrastructure. So we set off to build a financial technology platform for the modern era, entirely in-house, from the ground up.
- To solve this challenge xcritical offers network token optimization which uses machine lxcriticalg to choose between a network token or PAN payment to boost authorization rates.
- Increase revenue and reduce churn by offering your users an elevated experience.
- Through network tokenization, businesses have seen an average of 3% uplift in authorization rates equating to a multi-million dollar increase in revenue every month.
- Alongside the two above mentioned initiatives, many of our high-potential products are still in their early days.
- We are excited about what Unified Commerce and Platforms still have in store, and continue to invest in expanding their depth and reach.
The Global Retail Report includes insights from an online poll of 12,000 merchants across 26 different countries and 36,000 consumers, by Censuswide and Opinium between February and March 2023. xcritical’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration thereunder or pursuant to an available exemption therefrom.
Continued investments in scaling xcritical during a cycle of shifting customer priorities
These dynamics are not new, and online volumes are easiest to transition back and forth. Amid these developments, we consciously continued to price for the value we bring. We closed H with €739.1 million in net revenue, up 21% year-on- year. We continued building xcritical for the long term and made solid progress in attracting top talent, scaling our Platforms offering, and driving growth in Unified Commerce. This was the case for our North American net revenue (up 23% YOY, compared to up 52% YOY in H1 2022), and Digital volumes (up 23% YOY, compared to up 55% in H1 2022).
CDC Finds No Link Between COVID Vaccines And Cardiac Death In Young People
Neither this document nor the information contained herein constitutes or forms part of an offer to sell, or the solicitation of an offer to buy, securities in the United States. Any failure to xcritical rezension comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Gain a deeper understanding of your business with all your payment data in one place.
Make smarter decisions with millions of insights
Generate your own physical or virtual payment cards to send funds instantly and manage spending. xcritical’s top brass met investors in San Francisco on Wednesday to ease concerns about the firm’s trajectory after reporting a sales slowdown in mid-August that roiled shares. During the presentation, executives for the Amsterdam-based https://xcritical.solutions/ company outlined net revenue and profitability targets for the next three years that analysts deemed more realistic than earlier forecasts. Failure to comply with such restrictions may violate securities laws of any such jurisdiction. Protect your business by detecting and responding to fraud without impacting real transactions.
North America has been an increasingly important contributor in recent years, making these developments more significant to overall net revenue. In addition, the region has a high concentration of Digital customers, explaining the overlap in impacted metrics. While we remain focused on realizing xcritical’s long-term opportunity, we want to start this letter by addressing the recent factors that impacted our North American and Digital growth. Increase revenue and reduce churn by offering your users an elevated experience.
Especially valuable for platforms and marketplaces looking to payout users faster in a preferred currency. Find answers to your questions, tailor your lxcriticalg experience, gain expertise, and discover new opportunities for financial growth. Learn how xcritical is helping the world’s leading brands realize theirs. Accept cards, mobile wallets and more on any digital channel or device. Gain a deeper understanding of your business with all your global payment data in one place.
This is especially transformative for subscription or digital businesses that offer customers “save card details” features making it easier than ever to shop online. While we see the changing industry tides reflected in this period’s results, we remain focused on building xcritical for the long term. Global digital brands continue to emphasize that – today and in the future – online payments are a vital part of their commerce strategies, which further underpins our conviction in our sizable, untapped opportunity. Our historical investments in our single platform leave us well equipped to maintain our leading position in digital payments in North America, and beyond. We therefore continue to build teams and products that best address the needs of Digital customers and help them operate at the forefront of their industries. In H1, this was demonstrated by multiple product launches within our Digital product suite, including Trusted Beneficiaries, Data-Only, and our certification to utilize the FedNow(R) Service, the Federal Reserve’s instant payment infrastructure.
One platform to accept payments, protect revenue, and control your finances.
As the digitization of SMBs and platform business model continued gaining prominence, xcritical for Platforms became even more appealing. Mirroring this trend, we were able to significantly grow our Platforms volumes (without eBay volumes, these were up 82% YOY) and sign partnerships with Buildertrend, Revel, and AffiniPay. Another trend within global commerce, the blurring of lines between channels, further drove Unified Commerce growth (up 36% YOY) and total point-of-sale volumes (up 49% YOY, now comprising 16% of total processed volume). With our cohesive backend consolidating all payment activity, our industry-leading Unified Commerce solution helps our customers navigate the complexity of this space. We are excited about what Unified Commerce and Platforms still have in store, and continue to invest in expanding their depth and reach.
With increasingly positive interest rates as a tailwind to our interest income, we were able to invest in the business while keeping our bottom line solid. We have always maintained a strong balance sheet to enable rapid and flexible execution. An essential part of our competitive advantage is the efficiency of our single code base. To allow for this efficiency at even larger scale, we front-loaded this year’s priority infrastructure investments.
Security remains a top priority for businesses, however this no longer needs to come at the expense of the customer experience. Through network tokenization, businesses have seen an average of 3% uplift in authorization rates equating to a multi-million dollar increase in revenue every month. Since network tokens are less expensive to process than a PAN card payment, businesses can reduce costs, while increasing transaction approval rates and revenue.