Card transactions doubled in 2022, compared to the same period of 2019

Financial institution Capital Financial Services S.A., which operates under the Twispay brand, processed, in the first half of 2022, over 500,000 card transactions, worth almost 30 million Euros.

While the number of transactions is double compared to the same period in 2019, before the start of the pandemic, the total value is about 10% higher. Moreover, the average transaction decreased from 127 Euros in 2019 to 53 Euros in 2022.

“The fact that we recorded a larger number of transactions, with an average value of about 60% lower, is, in my view, a very good sign for online commerce. If, in the pre-pandemic period, digital transactions were fewer and more consistent, now we see how they begin to be part of our daily lives. The pandemic acted as a catalyst for e-commerce, led more consumers to choose the services of e-tailers and helped increase trust in these channels. Shoppers now place much more value on the comfort and convenience associated with the e-commerce area. This allows them to channel their time towards the activities that are really important to them and where they cannot be replaced” said Augustin Dobre, Twispay CEO.

The industries with the highest average transaction values in the first half of 2022 are technology sales (351 Euros), insurance (187 Euros) and airline services (165 Euros).

The largest payment made with the card through the Twispay payment acceptance system exceeded the threshold of 12,000 Euros (electronic products), while the smallest was 0.11 Euros (courier services).

The study was conducted on the entire Twispay client portfolio, which includes companies from Romania and the European Economic Area, such as BlueAir, Fit4You Delivery, AVStore. The transactions processed by Twispay were paid with cards issued both in Romania and in other countries of the world.

Twispay offers benefits and payment services unique to the Eastern European market

To meet the needs of e-commerce players and successfully manage the growing volume of transactions, Twispay constantly invests in the development of its technical solutions, designed and optimized in-house.

“The fact that we develop and manage our own technical solutions internally and that we benefit from Visa and Mastercard principal memberships gives us total control over the payment infrastructure and, implicitly, over the services and the degree of customer satisfaction”, he said Ciprian Stoica, Twispay Program Director.

Moreover, the financial institution prioritizes the safety of its customers’ funds. It holds safeguarding accounts at 3 banks in Romania and at the German branch of JPMorgan, as a result of a collaboration that is unique in the region. Twispay, thus, ensures that the ts customers’ funds are deposited in special protection accounts opened and kept separate from the company’s capital, which cannot be accessed by anyone else, except the rightful beneficiaries.

Twispay is also a strong vector of cross-border trade. Its licenses to issue electronic currency and process payments for online transactions are passported throughout the European Economic Area, allowing the company to serve online stores in the region. The financial institution also offers accounts in different currencies (GBP, EUR, USD, etc.), helping eliminate foreign exchange fees, both for its B2B customers and e-commerce consumers.

“Twispay has positioned itself, since its market entry, as a complex provider, a disruptor, in the area of payments and has served customers whose needs are not met by traditional payment processors. We devoted our early years to understanding player needs and local and national trends. Now, nearly 5 years later, we have an intuitive, efficient, customizable payment solution that helps online stores understand their revenue streams and consumer behaviors by providing them with a valuable selection of reports and metrics”, concluded Augustin Dobre, Twispay CEO.

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