B4B PAYMENTS
dealing with a different environment and a level of internal and external education was required . Given the circumstances , B4B Payments made a strategic decision to “ slow down delivery in the US ,” according to Draper , “ to ensure that we were fully prepared and equipped to meet the unique demands of the US market ”.
Achieving Growth Despite the challenges of 2020 , B4B Payments achieved impressive growth . “ I ’ m proud of the past couple of years [ 2022-2023 ],” says Swinton . “ We ’ ve had triple-digit revenue growth in both of those years , so 100 %+ year-on-year , which has been fabulous .
“ We ’ ve achieved that through expanding our product sets . So , we ’ ve moved from being purely a card issuer into being a corporate accounts provider , corporate payments , and global FX provider .”
Swinton adds : “ We ’ ve turned our products into an API set that our partners can consume to offer similar banking-like services to their clients . So that ’ s provided us with new distribution channels and streams , which has enabled us to grow at this fantastic rate over these last few years .”
Brian Lawlor , Group Chief Commercial Officer at B4B Payments , says the strategic expansion has helped B4B Payments establish itself in the US , a market with significant growth potential . He adds that the move not only demonstrates the company ’ s confidence in its capabilities but its commitment to exploring new horizons .
“ The opportunities there remain huge and have the biggest growth potential for us as a group . There ’ s massive potential in the card industry , in part , due to the higher interchange allows for smaller issuers compared to other parts of the world .”
Indeed , B4B ’ s product is what sets it apart from the competition too , as Jennings says : “ From the companies we ’ ve talked to who are using similar products , they tell us that our product
58 July 2024