2020: tough but fruitful. PayCore.io’s year in review

As 2020 draws to a close, we would like to take a moment to thank all of our clients, partners, and onlookers for staying with us and supporting us in all our aspirations. This year has been challenging, but we’ve managed to pass the threshold of 100 million successfully processed transactions per year, expand to Nordics, attract new clients, establish dozens of new connections to PSPs, and upgrade our platform with new features and improvements. Today, we’d like to offer you a closer look at what we achieved this year.

Exceeded 100 million transactions in 12 months

The joy of this milestone is still in the air in our offices, as we’ve reached it just this month. In 2019, our platform processed 34 million transactions per year. This year, our platform witnessed a threefold growth, ending 2020 with over 106 million successfully processed transactions on the board. It is a remarkable achievement for us, which we would not have reached without our clients. Growing together is what drives and inspires us to self-improve, tweak our platform, add new features and establish more connections.

In the past 12 months, we enriched our list of ready-made integrations with 33 more options and upgraded 43 of the existing ones. To name a few, we integrated payouts by paysafecard, Rapyd, ECOMMPAY, SafeCharge, Genome, a bunch of services by Stripe, Klarna, and Neteller, etc. Click here for the whole updatable list of the connections. To cater to the needs of our growing circle of customers, we’ve worked on many new upgrades and features. Among the most significant ones are:

• 3DS2 support. This new standard implies increased security, as instead of static passwords, it suggests using strong customer authentication measures, like token-based or biometric authentication.
• OCT flow, allowing businesses to push real-time payments directly to cardholders so they receive funds right into the bank account that’s linked to their card.
• Verify flow, allowing to accept, tokenise, and verify a cardholder’s payment details without actually billing the customer for a charge. In Verify flow, payment with the verification request will be voided and won’t affect your balances.
• Instant payments flow, enabling users to make payments in one click.
• Google Pay and Apple Pay HPP flows that allow customers to pay via these methods conveniently by pressing a dedicated button on the payment page.
• Routing by card attributes, such as network, type, brand, BIN, issuer country, issuer name, scheme, etc.
• We enhanced our offering with extensions — tailored solutions developed to meet the needs of our clients. For instance, we’ve launched an addon that generates and signs receipts with EDS. It also supports custom receipt designs.

You can find the detailed description of each update and an overview of everything we’ve added to our platform this year in our documentation. Make sure to check it out from time to time because, in 2021, we are ready to take off at a greater pace!

Notably expanded (in quantity and space)

One of the main cornerstones that help us reach our company’s goals is our team. We’re incredibly proud that this year it grew from around 30 people to more than 50 (and we’re still hiring!). We never stopped looking for bright minds to join us, even as the government has tightened the quarantine measures. Our Development, Sales, and Customer Success teams expanded the most this year.

During the lockdown, we were working remotely and greeting some of our new colleagues online before we had the chance to meet in person. Then, as our Kyiv team gradually started returning to the office, it turned out we need much more space. So, this summer, we moved to a spacious new office, equipped with everything needed for all of us to work productively, arrange events and meetings, and spend free time together. We still have plenty of space, so join us if you share our vision!

Keyed in on the collaboration

We believe in unifying the payment world, so collaboration and partnership are much more than just words for us. In 2020, we worked a lot not only on establishing new integrations and partnerships with payment service providers and acquirers, but also on networking and building relations with other companies and institutions in the industry. For instance, this March, we joined Innovate Finance, the UK’s independent fintech association that brings together over 250 companies of all sizes.

We also undertook a bunch of educational initiatives. In autumn, we joined forces with law professionals from Avitar to organise a series of educational meetups, gathering people in our new office to discuss the KYC procedures, compliance hassles and issues related to chargebacks. Our COO and CPO spoke at numerous webinars and online sessions, sharing their knowledge and expertise in issues ranging from customer relations to product management. We joined dozens of online conferences, events, and meetups, including exclusive ones like Startup X by WebSummit, and made hundreds of pitches.

This year we also enjoyed the attention of media, both local and international, including PaySpace Magazine Global, Financial IT, AIN, MC Today, Vector, and others. Our COO even made the cover of Financial IT’s spring issue!

One of the year's most significant achievements in business development was that Copenhagen FinTech Lab selected us to participate in the Nordic Fast Track program. It allowed us to expand our presence and establish valuable partnerships in the Nordics, explore local markets, and develop a strategy for further growth.

Our team is encouraged and inspired by all the progress we’ve made this year. We expect big things to happen with our company and platform in 2021, and we’re looking forward to sharing all of the new developments with you.

Thank you for being there and having faith in us.

Happy holidays from all of us at PayCore.io!