Member Article

PayFuture, the AI-technology payment gateway connecting merchants to untapped emerging markets, adds senior partnerships hires and passes 50

London – 25th May 2022 - PayFuture, the AI-technology powered payment gateway connector enabling merchants to connect to multiple local payment solutions in the most hard-to-reach emerging markets, has announced triple digit growth since its launch in 2020, as demand for its technology soars.

The fintech scale-up’s rapid growth can be attributed to its unique approach to building strategic partnerships with multiple localised payment providers in emerging territories around the world - as a result, PayFuture has built a client base of hundreds of merchants, which is quickly increasing every month.

Launched in 2019, bootstrapped without any external funding, PayFuture has rapidly grown to be a trusted and leading payment gateway solution. It currently works with hundreds of international online merchants looking to enter emerging markets and capture significant business opportunities in markets which have traditionally been hard to penetrate.

Traditional barriers to entry for many overseas merchants trying to tap into emerging markets such as India, Thailand and Brazil have included finding reliable providers, dealing with alien and often difficult to navigate local regulations, cultural nuances as well as poor customer service and conversions in these underdeveloped regions. Cognizant of these barriers, PayFuture launched in 2019 with a team of innovators, AI technologists and payments experts creating a suite of products to enable merchants to access all the most local payment methods in emerging markets via one single software connection. This resulted in greatly improved payment abandonment and increased revenues.

Integrated into PayFuture’s offering is AI technology which enables its merchants to deliver a seamless customer experience, optimum approvals and full conversion recovery to decrease merchants’ revenue loss. With PayFuture’s Risk and Fraud monitoring system, merchants also benefit from comprehensive fraud protection and auto alerts, which warn merchants of potential risks as they occur.

Having recently opened its second London office, PayFuture has quickly expanded its reach with more than 50 employees spread across the UK, Dubai, Philippines, Malta, Spain, Italy and the Netherlands. Further offices are expected to be opened in other emerging markets this year as the fintech ramps up its sales and partnerships activity.

To help drive new business partnerships and maintain its unprecedented growth, PayFuture has also recently appointed two Senior Partnership managers. Julius Ahuis and Greg Whalley will be based in Amsterdam and London respectively. Both will help drive PayFuture’s channel sales strategy and will report to PayFuture’s Global Partner Sales Director, Stephen Fowler.

Manpreet Haer, Co-Founder at PayFuture, commented: “While emerging markets may not have the developed infrastructure of the west, the growing use of payment methods such as mobile wallets and localised mobile and alternative payments means there is a significant opportunity for overseas merchants to tap into these markets. With PayFuture, we want to be the bridge between merchants and these emerging markets to help them gain valuable access to growth territories but in a way that is safe and secure.

“Our strategic and mutually beneficial partnerships with local payments providers have been instrumental in our explosive and impressive growth. At PayFuture, we are going to continue to open new local payment methods as this is the true value we bring to merchants who are interested in doing business in emerging markets.”

This was posted in Bdaily's Members' News section by Lucie Hayes .