IFTHENPAY GROWS 25% AND LAUNCHES A 'CHARM OPERATION' FOR INTERNATIONALIZATION

Portuguese company has also increased the number of customers. Now it is preparing a root platform for the international market.

Ifthenpay earned 1.78 million euros in 2018, a value which represents a growth of 25% when compared to the previous year’s result. The company from Santa Maria da Feira managed to increase the number of customers to more than 13 thousand, representing a growth of 18%.

"Many of the payments are online sales, but the paper invoice, the Multibanco reference, is still very used in offline payments," said Filipe Moura, co-founder and also executive director of Ifthenpay. "The multibanco reference is transversal to all ages, from north to south of the country, between companies and individuals."

The increase in customers translated into an increase in the total of business volume of Ifthenpay: a total of 431 million euros, a growth of almost 40% compared to the value registered in 2017.

For the year 2019, the financial services company estimate a new growth - highlight to 13% in the customers’ area, which should guarantee them 15 thousand by the end of the year – but, in the background, Ifthenpay has already defined another priority.

"Our operation is only Portugal. We are studying the internationalization of the company. With a new payment method that will work at the international level," said Filipe Moura at a press conference.

The executive declined to disclose details about this new platform, saying only that it is a "payment method that will work internationally" and that they are already working on the licensing matter. "We can’t reveal what will be, but it has potential ", appointed the responsible.

"The idea is to operationalize everything from Portugal. We will star with the European Union," he said, also inviting potential partners interested in wanting to be part of this new stage of Ifthenpay: "A partner with experience in internationalization accelerates all this, someone from the bank sector," he said.

"Internationalization for us is a big step," he concluded.