Payrexx on the upswing: a promising financial year 2023 with growth in all areas
The Swiss payment provider Payrexx can look back on a successful financial year 2023. Not only was the transaction volume significantly increased, but Payrexx was also named the most popular payment provider for Swiss SMEs in the online merchant survey.
Online retail in Switzerland recovered in 2023: After the market volume slumped in 2022, it rose again last year to CHF 14.4 billion. This is shown by the overall market survey conducted by the Swiss Retail Association.swiss together with GfK Switzerland and in collaboration with Swiss Post. In contrast to the previous year, this represents an increase of three percent.
With regard to this development, Payrexx, the innovative provider of payment services from Thun, is pleased to announce exceptional growth for 2023: With a transaction volume of around 610 million Swiss francs, the entire Payrexx family achieved a significant increase of around 42 percent compared to the previous year. In 2022, the volume was around 430 million Swiss francs. Ivan Schmid, founder and Managing Director of Payrexx, is delighted:
"We are getting closer to our vision with every step we take. Payrexx's goal is to become the top provider of payment solutions in Switzerland and to support SMEs on their path to success with our innovative, frictionless payment systems."
Probably the most important tool for this is "Payrexx Swiss Collecting", the package that offers over 50,000 satisfied merchants all important payment methods from a single source with just one contract. The already very broad range of payment methods - including TWINT, PostFinance, Mastercard, Visa, Amex, Samsung Pay, Apple Pay, Alipay, WeChat Pay and many more - was further expanded last year. For example, Reka, Google Pay, Centi, TWINT "pay later" and Heidipay were acquired as partners and added to the offering.
Important milestones in 2023
Probably the most formative and important moment of success for Payrexx 2023 came from the annual online merchant survey conducted by the Zurich University of Applied Sciences (ZHAW) and the Management Center Innsbruck (MCI). In this survey, the company was voted the most popular payment provider for Swiss SMEs by the almost 600 participating online stores - ahead of PayPal, PostFinance and Saferpay.
The start of the Series A financing round was also an important step for the start-up from Thun: to date, the funds have come from the company's organic growth and from existing private investors. In December, Payrexx received an additional investment of 2.5 million Swiss francs from a consortium of Icelandic investors familiar with the payment industry.
Growth remains the focus of the regional payment provider. Accordingly, Payrexx is delighted to have more than 17,000 new registered customers, mainly from Switzerland, Germany, Austria and Liechtenstein. Of these, 7,000 joined directly via Payrexx and 10,000 via the Payrexx for Platforms platform solution, which is unique in Switzerland. The regionally anchored payment provider won over a total of 25 such platform merchants in 2023.
And finally, the Payrexx team itself also grew: nine new employees were welcomed and trained. This means that a total of 32 people now work for the Swiss technology start-up. The average age is almost exactly 30 years - a particularly young and innovative team!
Three growth targets for the future
Payrexx is focusing on three growth projects for the coming financial year. Firstly, "Payrexx QR Pay", the already launched tool for payment via QR code, is to be promoted and marketed more intensively. Here too, the team has already experienced its first moment of success: Payrexx QR Pay was awarded the 2023 Innovation Prize by the Bernese Oberland economy in January 2024.
Secondly, Payrexx wants to become an omni-channel provider and thus focus more strongly on the leap from pure online commerce to on-site payments. The development and distribution of a SoftPOS app and POS terminals for transaction processing in stores and companies are planned.
Thirdly, Payrexx is working on implementing an e-commerce instant payment method. This would allow transactions to be made in real time in the future and merchants would no longer have to wait for their money. In this way, Payrexx wants to make everyday life even easier for Swiss SMEs - and take another step closer to its vision.
