22 May 2019

IFTHENPAY AND PAYSHOP PARTNERSHIP

IFTHENPAY offers Payshop payment references and contributes to the development of online commerce in Portugal, giving its 13,000 member companies the possibility to interact with a range of potential new customers who like or need to make cash payments.

Lisbon / Santa Maria da Feira, May 21, 2019 – IFTHENPAY, a company specialized in the emission and management of shared multibanco references for companies and leader in this market segment, announces today that it has signed a partnership agreement with Payshop, within the framework of which becomes the integrator of the payment references of that company.

This agreement is part of the growth strategy designed by the company for 2019, namely in what concerns the expansion of the means of payment availably by IFTHENPAY with the aim of leveraging e-commerce. 
From now on, the more than 13,000 entities adhering to the payment gateway of IFTHENPAY will now have the Payshop references at their disposal, besides the multibanco (ATM) and MBWay references. Payshop references allow the processing of cash payments in a wide network of proximity stores (Payshop agents).

"We have a huge enthusiasm in the new relationship between Payshop and IFTHENPAY. The payment means and channels of Payshop process more than 30 million transactions a year, guaranteeing users an easy way to use the Payshop system to pay their home bills, your mobile phone, paying your tolls or taxes, purchasing vouchers for online gaming, among others, with security and control in a network of more than 6,500 points throughout the country. The partnership with IFTHENPAY, making our service available to more than its 13,000 participating companies, allows us to offer the same convenience of payment also to the world of e-commerce. Right now, whoever wants to buy online and pay in cash, conveniently in a Payshop agent near you, they can!”, says Tiago Almeida Mota, CEO of Payshop.

According to Filipe Moura, Co-CEO and Co-Founder of IFTHENPAY: "We are very pleased with this partnership with Payshop, which is also one of the reference brands in the national market. This is one more way to amplify the payment options we make available to our adherent network, offering not only a broader range of solutions and benefits, but also, on the other hand, to act as a facilitator of new business opportunities, contributing to the development of e-commerce. Namely, allowing that our more than 13,000 member companies can relate to the wide range of people who want to shop online, but prefer to make cash payments at a physical point (local shops / Payshop agents - the tobacconist, the grocery store, etc. ) either because they do not have a bank account or because they feel more secure in this way. "

Nuno Breda, Co-CEO and Co-Founder of IFTHENPAY, also states in this regard: "This partnership, which we are proud of, is in line with our growth ambitions for this year and with our commitment to contribute to stimulating e-commerce. The more than 13,000 adherent companies with whom we relate can now also receive payments from people who like, or need, to pay in cash - a segment that is still very significant and is made up of young people adolescents who do not yet have a bank account; of foreigners living in Portugal but who do not have an account with national banks; and of other people who do not also have a bank account, or feel more secure to make their payments in one of the stores of their neighborhood."

About IFTHENPAY

IFTHENPAY is a Fintech Portuguese company specialized in the issuance and management of multibanco (ATM) references for companies that leads this market segment in Portugal. Originally from Santa Maria da Feira, in the district of Aveiro, IFTHENPAY presented a business turnover of 1,782,372 € in 2018. With more than 13 thousand companies adhering to its service throughout the national territory and also abroad, IFTHENPAY generated a volume of payments of € 431,342,759 in 2018. The company became in 2018 the first Fintech in Portugal to reach and exceed the € 1 billion of accumulated total. For more information visit www.ifthenpay.com

About Payshop

The Payshop is a payment service company that allows the charging of mobile phones and transport tickets, the payment of various bills, such as telephone, electricity, water, gas, television, taxes, tolls, transport tickets, prepaid, among others. The Payshop service is available on a national network of about 6500 points, 4400 of which are Payshop agents. The Payshop agents network is composed by local shops, such as stationery shops, tobacconists, kiosks, supermarkets and others, chosen according to strict criteria of safety and quality of service.

From left to right: Tiago Almeida Mota, CEO of Payshop; António Pedro Silva, Administrator of CTT; João Mello Franco, COO of the CTT Bank; Filipe Moura, Co-CEO and Co-Founder of IFTHENPAY; and Nuno Breda, Co-CEO and Co-Founder of IFTHENPAY

Source: In, Valkirias Consultores
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