PAYSTRAX
About this company
PAYSTRAX is a Payment Card Acquirer that excels in managing risks and working closely with merchants and partners. It is a solution-driven fintech, recognised for its reliability and expertise in supporting complex clients, adapting to their specific needs and a customer-centric focus.
PAYSTRAX holds Principal Membership licences with Mastercard and Visa and is an authorised Payment Institution in both the EU and the UK.
Innovation, adaptability, and strategic execution have positioned PAYSTRAX as a leader in the e-commerce payments industry. Registered in 2018, the company began providing card acquiring services in 2021 and became profitable and self-sufficient within just five months of operations. Today, PAYSTRAX operates from six international offices – in Vilnius (LT), Klaipėda (LT), Malta, Reykjavik (IS), Leeds and Brighton (UK) – and more than 150 employees.
As a Principal Member of Mastercard and VISA, PAYSTRAX fortifies its position in the Payments Value Chain. Achieving breakeven within six months of launching acquiring services in 2021, we recorded a €4.2 million annual gross revenue, maintaining positive cash flow. Notably, PAYSTRAX stands out as a steadily growing and profitable entity without external funding. PAYSTRAX remains a dynamic force, embodying strategic vision and adaptability in the competitive payments for e-commerce landscape. Adapting to industry trends, we seamlessly integrate with major digital payment methods, including Google Pay, Apple Pay, American Express on the way.
PAYSTRAX’s founders boast a track record in establishing fintech companies within the payment service provider domain. In 2002, they founded Kortathjonustan in Iceland, later rebranded as KORTA PAY. While KORTA PAY opted for an in-house approach, building systems and processing internally, PAYSTRAX adopted a different strategy for efficiency and scalability. The core IT infrastructure was strategically outsourced to leading vendors in the acquiring IT space, by integrating Microsoft Azure with a data warehouse in Snowflake, integrating the CRM as well as due diligence and compliance systems into Salesforce and connecting Microsoft BI on top of it all for management and customer data management and reporting. Collaborating with well-known payment processor OmniPay and payment gateways among else from ACI Worldwide and Cardstream has allowed PAYSTRAX to enhance operational efficiency and achieve exceptional scalability in its business model.
The partnership strategy, involving meticulous preparation, collaboration with service providers, and connecting various 3rd party systems, culminated in the launch of acquiring services in early 2021. Within the first year, PAYSTRAX achieved breakeven in just six months and maintaining positive cash flow since then.
Distinguished by continuous innovation, PAYSTRAX consistently leads the way in staying ahead of industry trends. Our seamless integration extends beyond traditional VISA and MasterCard payments to include cutting-edge options such as Google Pay, Apple Pay, and American Express. Additionally, we actively explore new integration opportunities with major e-commerce channels such as Shopify, OpenCart, PrestaShop, and more. We are constantly working towards expanding our service offerings rapidly and efficiently, providing our customers with a diverse range of solutions tailored to their evolving needs.
Our goal is to deliver cutting-edge technology, brilliant customer service, and tailored payment solutions to businesses everywhere they need them. By combining our innovative approach with strategic market expansion, we’re positioning ourselves to meet the evolving needs of our customers while solidifying our role as a key player in the global payment ecosystem.
PAYSTRAX can easily be recognised as one of the fastest-growing and profitable fintech companies in the industry. In 2024, the company demonstrated exceptional growth despite a challenging regulatory environment. PAYSTRAX achieved profitability shortly after launching its acquiring services in 2021, reaching breakeven in just five months and reporting an impressive €4.2 million in annual gross revenue with sustained positive cash flow.
What sets PAYSTRAX apart is its ability to grow steadily without any external funding — a rare achievement in the fintech landscape. Reinforcing our financial strength, recent figures show remarkable progress in 2024, reaching €490 million in processed volume, with plans to close 2025 with a projected 60% growth.
Beyond financial achievements, our team continues to expand rapidly, growing from just 2 employees in 2019 to more than 150 by 2026, reflecting our commitment to building a strong, skilled workforce that drives ongoing innovation.
