We're thrilled to announce that Verestro has been recognized as one of the 100 largest Polish companies in the payment industry according to the prestigious Cashless.pl ranking! This achievement is a testament to our unwavering dedication to developing innovative payment solutions and the hard work of our entire team.
Table of Contents:
Top Payment Companies in Poland
The Ranking of the 100 Largest Polish Payment Companies is the only study of its kind in our country, showing the most important companies operating in the payment sector. It includes non-bank card issuers, online payment integrators, clearing agents, operators of payment terminals, mobile and remote payments, etc.
This year's edition of the Cashless ranking includes an overview of top payment companies mainly prepared on the basis of revenues of entities operating in Polish payments. In addition, there are rankings of the largest companies in terms of financial result, capitals, profitability, etc.
Comparing the latest data with those from previous years gives an idea of the changing situation in the industry and an insight into which companies are best positioned to take advantage of these changing conditions.
Verestro is ranked among companies in the payments industry and its position varies depending on the financial indicator analyzed.
Verestro's Stable Growth
Throughout 2023, Verestro experienced stable growth and enhanced operational efficiency, which is reflected in our strong financial performance.
Key takeaways from our 2023 results:
Growth strategy execution: The ranking placement underscores the success of our growth strategy, with significant increases in both revenue and profit.
Investment in innovation: A notable rise in intangible assets highlights our commitment to continuous innovation and embracing new technologies. This is crucial for staying ahead of the curve in the dynamic payments landscape.
Verestro's Financial Results
Adam Miziołek, Head of Global Business Development at Verestro, commented on the company's financial results, highlighting the company's strong performance and its commitment to future growth:
“We are very pleased to see such a prominent position of Verestro in the published ranking of Cashless.pl. Due to the products implemented in previous years, such as card issuing, tokenization, solutions related to money transfers - foreign, but also domestic - contributed to a significant increase in revenue, which in 2023 reached over 27 million PLN, and we already know that the year 2024 will close at the level of more than 40 million PLN with a profit estimated at 8 million PLN, where last year we closed with a result of 6.8 million.
The company's profitability is certainly due to very large investments in technology development, appreciated mainly in the European Union markets, among our customers, but also in Latin America, Asia and Africa.
As I mentioned earlier, our clients mostly appreciate our systems for managing card programs, products for transferring funds across borders and domestically, as well as systems for managing business expenses - a very simple product that allows any entity to issue cards independently, manage limits and assign cards to users.
The company will work hard in the next few years to develop new products that are gaining global recognition, such as transfers to Apple Pay and Google Pay digital wallets, called Payout to X-Pays. We will also be developing a line of mobility cards that will allow corporate employees to purchase public transportation tickets, purchase scooter rides and calculate carbon footprint in their app.
We are also planning a lot of partnerships with entities in payments, investments, leasing and insurance companies, among others.”
Verestro is incredibly proud of this recognition in the Cashless.pl report and will remain dedicated to solidifying the position within the payment industry. Stay tuned for even more exciting developments from Verestro!
