Anticipating Money 20/20: Paysera on Innovation, Expansion, and Partnerships
Money 20/20 brings together a diverse array of players in the financial sector, from established market veterans to smaller but rapidly growing companies. So, why should Paysera be the name that attendees stop by and perhaps even schedule a personal meeting with?
Lithuania is rapidly emerging as a fintech powerhouse and is increasingly recognised as a significant player in this field, with approximately 130 licensed fintech companies and a total of around 230 fintechs. Our position as leaders in this competitive market, being historically the first electronic money institution and the largest by key metrics, speaks volumes about our experience and, likely, our quality.
We started 20 years ago with payment processing for e-commerce, which remains a significant part of our business today. Looking ahead, our projection for the near future is to transform into a super app. This is where we are open to collaborating with both financial and non-financial institutions. Money 20/20 is the ideal place to say the initial "hello".
What is Paysera's vision for developing the super app platform? What partnership opportunities do you see with other financial institutions?
Our vision is to create an ecosystem where with a single button click you can manage all your daily financial – and not just financial – affairs. We aim to collaborate with both local and international businesses so that we can offer even more services and convenience to our clients.
When it comes to the super app, we are interested in both global partnerships and local third-party integrations in certain countries, especially where the app is widely used. This includes Central Europe, the Baltic States, and the Balkans.
Some everyday services that we envision in our app do not require a financial licence, for example, food delivery, courier services, and parcel lockers. So we are open to collaboration in this regard.
In which countries does Paysera currently operate, and what are the future directions for expansion?
Typical Paysera clients, in terms of revenue distribution, are e-merchants and representatives of other businesses. By offering hundred of payment methods through banks, we open the door to the European market for online stores. At the same time, by providing the opportunity to pay by payment cards, through fintech solutions such as Revolut, or payment systems like Trustly, we enable Paysera clients to successfully expand their operations and reach buyers almost all over the world.
In our home market, Lithuania, we are also entering physical customer service points, offering virtual POS and card payment acceptance. We intend to expand this business internationally, starting with countries where other Paysera Group companies are actively operating.
Looking to the future, we hope that an increasing share of revenue will be generated by our super app, which has been downloaded by more than a million users.
What are the main achievements of Paysera over the past few years that are of greatest interest to other financial institutions?
Paysera stands out for its sustainable and stable growth strategy. Although this approach may seem slow to some, the chosen low-risk appetite allows us to enjoy profitable operations in 18 out of 19 years in the market. It is this stability that is one of Paysera's main achievements, which is of interest to other financial institutions. The results achieved over the past year only confirm the success of this strategy:
| 11 billion EUR | total amount in transfers in 2023 |
| 1.07 billion EUR | spent by buyers in e-shops served by us in 2023 |
| 627 million EUR | converted to different currencies in 2023 |
| 532 million EUR | held in client accounts in total |
| 185,000 | active payment cards |
What innovations and technologies does Paysera use to improve the quality of its services?
To remain competitive, it is essential to constantly implement the most advanced solutions and stay at the forefront of innovation. We pay particular attention to the integration of artificial intelligence (AI) in our operations, and we also encourage the use of artificial intelligence within the company. We have a dedicated AI team that takes care of process automation, employee education, and training.
We are constantly looking at how AI can optimise our processes, from client support to risk management.
For a significant portion of our employees, AI is already a common part of their work – for them, it's not about whether to use it, but rather which tools to use and how often. I have no doubt that we are one of the leading companies in Lithuania, widely applying AI in various daily processes.
Money 20/20 is an excellent platform to draw inspiration from market leaders, see the latest trends, and return with even greater enthusiasm to find new ways of applying AI in Paysera's operations.