Seven years on since becoming
Europe’s first regulated electronic money (e-money) issuer,
UK-based online payments service provider Moneybookers can look
back on another year of outstanding achievement.
Among many milestones reached in 2009 was the
signing up of the 10 millionth customer to its Moneybookers eWallet
service, an achievement that represented a 64 percent year-on-year
increase in user numbers. Along with this growth, deposits in
customer accounts doubled in 2009, while online transaction volumes
surged by 120 percent compared to a global trend in overall online
transaction volume of only 15 percent growth.
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Also expanded considerably in 2009 was
Moneybookers’ online merchant base, which grew from 35,000 at the
end of 2008 to 60,000. Major big names added included eBay,
Playfish, Skype and Thomas Cook.
Moneybookers’ vigorous growth has been
recognised by professional services firm Deloitte in its 2009
Buyout Track 100 survey, in which it ranked Moneybookers as the
UK’s fastest private equity-backed company based on earnings before
interest, tax, depreciation and amortisation (EBITDA) in 2008. In
that year Moneybookers reported EBITDA of £13.9 million ($22
million), up 177 percent compared with 2007.
“The [financial] crisis has made us stronger,”
commented Martin Ott, Moneybookers’ co-chief executive. “The high
growth of our business has again been recognised and we are
confident that we will build on this momentum in 2010. This award
is a testament to the popularity of the Moneybookers eWallet, now
used by over 10 million customers and whose ease of use and
security benefits are attracting over 13,000 new customers every
day”.
Ott added that while other companies have cut
back on their spending, Moneybookers has increased its investment
in future growth.
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By GlobalDataInvestments include the launch of a
MasterCard-backed payments card which enables users to make
payments from their Moneybookers accounts in high street retailers.
The company has also expanded with “substantial” investments into
the US.
