Paytech leader Prommt hits three million payment requests in Europe and eyes further expansion in North America
Irish paytech Prommt plans to increase US customer base and expand workforce following surge in adoption of their advanced payment request platform.
January 12, 2023 – Dublin, Ireland
Prommt, the leading payment request platform, has announced a significant increase in customer adoption by achieving a key milestone over the Christmas period with 3 million payment requests sent to customers across many industry sectors in their home markets within Europe. This success has spurred expansion in other markets and the company is now set to build on their existing customer footprint in North America.
Prommt is a leading paytech solution that is revolutionising the way enterprises request, collect and report remote customer transactions with the ability to send secure, branded payment requests to their customers. Prommt provides businesses with the flexibility to request payments via SMS, WhatsApp, e-mail, Chat (and more) and have them paid via card or directly from the customer’s bank.
Despite the challenging headwinds being experienced by many companies today, Prommt has completed a successful Series A funding round at the end of 2022, which, coupled with the recent surge in customer growth, will support its aggressive growth strategy to new markets including USA and Canada.
“Prommt has seen some major achievements over the past twelve months and we are excited for what’s in store for 2023. With recruitment and expansion on the horizon, even in uncertain times globally, demand for new fintech and digital payment solutions continues to rise. I believe we will see a continued shift to open banking payments in 2023 with significant growth continuing year on year.” – Donal McGuinness, CEO at Prommt
During 2022, Prommt enjoyed continued growth across all sectors, particularly in the hospitality, building material suppliers, automotive, and sports industries. The company gained several new high-profile clients, including a leading Premiership football club. Prommt also launched ‘Pay by Bank’, its Open Banking payments initiation capability via its partner Token. Within six months of launch, over 20 percent of Prommt’s customers have adopted open banking payments as part of the payments mix alongside and complementary to cards. For billers and merchants, Pay by Bank offers significant savings on processing costs and is set to transform cumbersome bank transfers with a slick customer experience that delivers instant account payments.
A new study from Juniper Research found that the value of global payment transactions facilitated by Open Banking will exceed €108.6 billion in 2026, from just under €3.75 billion in 2021. This extraordinary growth rate of over 2,800 percent over the next five years will be driven by increasing user awareness of Open Banking features, supported by greater deployment within Europe, as vendors build on PSD2 (Second Payment Services Directive) APIs to deliver expanding services.
In 2023, Prommt is set to grow its existing US customer base and push further into hospitality, sports services, retail, and building material suppliers across North America. Expansion of the team is also on the cards with a recruitment drive in sales, marketing and product development, building on 2022’s growth.
About Prommt
Founded in 2017, Prommt is a payments platform that is revolutionizing payments for enterprises and their clients. Its innovative solutions enable fast, frictionless card and open banking payments anytime, anywhere. Prommt is an enterprise-grade solution that is built for teams, supporting multiple locations, and provides powerful, reporting, and alerting capabilities. Headquartered in Dublin, Ireland, Prommt is used by businesses today across Europe and North America and was this year’s winner of the Best Open Banking Service Initiative awarded by Global Payments Innovation Awards and is a finalist for the Best Open Banking Payments Project within the Open Banking Expo Awards 2023.
For more information, please contact:
Julia Tereno, Account Manager, Clearstory International
Call: +353 (85) 725 0914 or Email: julia@clearstoryinternational.com