Altapay A/S (Koncern)

High growth rate continues
AltaPay achieved a revenue of DKK 38.755k in 2017, which is a 34 percent increase compared to last year. During 2017, AltaPay invested massively in the company’s unique omnichannel payment solution. Despite the massive investments and scaling up on resources, AltaPay succeeded in ensuring an Operating Income of DKK 325k. Profits after financial expenses and tax are negative by DKK 623k.

Overall, the financial result for the company is satisfactory and in line with management expectations. The primary focus has been to establish AltaPay in the market as an innovative and technologically advanced payment solution, targeting the cross-border trading retail industry. The high growth rate is a strong testimonial that the market – and especially retail businesses – embrace AltaPay’s solution and services.

In 2018, AltaPay will continue the high level of investment and ensure double-digits growth rates and at the same time continue to make our customers sustain a competitive advantage.

Our new award winning centralized omnichannel offering, combines ecommerce and card present across European markets, and allows our merchants much greater insight into how and where their customers prefer to buy their products. We are able to provide data to our merchants that help them counter competition from players like Amazon and Alibaba, to which traditional retailers usually lose their business. We enable businesses to Think Global and act Local”.

Market growing rapidly
The market for payment solutions is growing at an accelerated rate, and consumers are constantly being presented with new payment solutions – in physical stores, on mobile devices and in webshops. For retailers, it can be a challenge to meet the ever-changing consumer expectations towards a seamless and easy payment experience. Consumers do not care about technology or integration challenges; they just want a simple process - to buy and return goods across any channel, anywhere and at any time. That is possible with AltaPay. AltaPay provides a full omnichannel payment solution that benefits the consumer as well as the individual retailer. With AltaPay one only needs one platform to streamline sales, payments and return systems. AltaPay removes transaction friction and reduces operational overheads.

By 2017, AltaPay were operating in the US and 22 European countries with a fully integrated solution. For a retailer operating both online and in physical stores, this means they can reap the cost and time savings from only having to integrate once. From there, they can expand freely and smoothly.

Increased market share
The high growth rates show that AltaPay, just like in 2016, succeeded in gaining market shares in the European region in which the company is operating. In line with increasing markets share, AltaPay’s organization in Denmark has grown significantly and currently employs 46 people. To support the expected high growth rate, AltaPay will continue to expand the number of employees in 2018.

The investment in strengthening the omnichannel platform continues in 2018 and so does the ongoing work to add new payment technologies to the platform including ApplePay and China UnionPay.

New partnerships
AltaPay entered further strategic partnerships in 2017 that significantly strengthen the platform and will ensure a competitive advantage moving forward.

New major wins
AltaPay welcomed several new large customers in 2017 who represent well-known brands within retail, fashion and tourism. They, as well as our existing merchants, have contributed significantly to the continued success and growth of AltaPay.