The RS2 Group has progressed with its strategy of establishing worldwide presence through its subsidiaries in the United States and the Philippine, with offices now operational in Denver and Manila.

In addition to the new licence and processing agreements concluded so far, the group was actively engaged in discussions with processing and licensing clients in Europe, Asia Pacific and North America, the group announced in its interim statement.

During 2016, the group once again surpassed its own processing capabilities and in October announced it had reached 62 million transactions per hour.

The managed services business, from the group subsidiary RS2 Smart Processing, quadrupled processing volumes since the beginning of the year. The company holds a healthy sales pipeline across Europe, North and Latin America and the Middle East, which is being translated into potential new deals.

During Q3 the group reached an agreement with a global provider of third party payment, risk and commerce solutions, to join forces and deliver a one-stop-shop payment process, securing its first customer in the Thai market.

During 2016, the group’s revenue remained stable and comparable to 2015. In addition to the negative impact of foreign currency fluctuations, group profitability was affected by the investment in global expansion.

“The board maintains its confidence in the group’s business model, its underlying technology, revenue pipeline and expansionary targets. This year, 2016, is a year of investment, business development and global growth,” the announcement said.

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