Trust Payments reports record growth in 2021 annual report
Trust Payments, the disruptive leader in fintech specialising in frictionless payments and value-added services, has today published its annual report and financial statements for 2021: headlined by a 73% increase in total revenues to £108.7m, up from £62.7m the year before.
Net revenues increased to £70.2m, up 73% from £40.5m in 2020, buoyed by net merchant volume retention over 100% and driving adjusted EBITDA for the year up 105% to over £20m.
“It’s been an incredible year for Trust Payments. We’ve delivered outstanding financial growth, doubled our headcount, and expanded the depth and breadth of our product suite, to become a leading fintech disruptor.”
Daniel Holden CEO, Trust Payments
“We’ve now built a robust platform for scale across multiple industries, and through our acquisitions, have deepened our ability to support them: whether through integrated ePOS solutions or a direct-to-consumer eCommerce platform (Stor) for merchants to accelerate their revenues. The future looks bright for blending commerce and payments and in 2022 we’re well positioned to offer just this,” he continued.
Despite the economic uncertainty stemming from the coronavirus pandemic, Trust Payments has continued to grow from strength to strength. The company doubled its staff headcount from 214 people to 428 over the last year and has opened up six new offices across the UK, EU and US.
Holden added: “Our aim is to help businesses optimise their sales and build truly world-class experiences for their customers. By combining and then embedding payments, banking and value-added services into customer journeys we deliver our vision of Converged Commerce™ for next generation business.”
The business grew across all three markets as more merchants recognised the need for digitisation of payments and commerce, partially fuelled by the rise in contactless spending and the need to meet growing customer demand for Converged Commerce™ experiences.
Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times. We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2 between your website and our datacentres.
Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.
We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.
Trust Payments Ltd 2023
Trust Payments Ltd, No.1 Royal Exchange, London, EC3V 3DG. A company registered in England and Wales with Company Number 11976895.
Trust Payments (MALTA) Limited, Reg. No. C 56013, Ewropa Business Centre, Triq Dun Karm, Birkirkara, BKR 9034, Malta VAT number: MT23440004