• Structurally accelerating markets 
  • Strengths and a license to win 
  • Growth focused strategy
  • Clear ambition to deliver results
  • Further growth opportunities available

Structurally accelerating markets:

  • We operate in structurally attractive markets, where cash remains dominant. Digital payments in the MEA represent only 19% of total transaction volumes and the underlying value of digital transactions is expected to grow by a low teens percentage CAGR between 2021-2025. This transition is supported by the ongoing adoption of card and other digital payments, young populations, rapid adoption of e-commerce, and government led financial inclusion initiatives.

Strengths and licenses to win:

  • We have a long-standing history in the MEA payments markets, where we have been operating for over 25 years. We maintain leading market positions as an independent payment services provider, supported by our longstanding relationships with over 140,000 merchants and 200 financial institutions, with pan-regional presence in more than 50 countries. Our breadth of capabilities enables us to provide services across the entire payments value chain to customers; whilst our scale allows us to act as one payments partner to pan-regional customers, whilst also providing cost benefits and the ability to continue investing in market leading capabilities.

Growth focused strategy:

  • Our strategy is designed to support our customers in bringing digital payments to more consumers across our regions. We remain focused on leveraging the rapid growth of digital payments across our markets, through growing our customer base, accelerating development of capabilities through partnerships, building technology capabilities, and pursuing further growth opportunities. Our strategy is focused on two key pillars; Accelerate, where we will serve more customers; and Innovate, where we will serve customers better.

Clear ambition to deliver results:

  • We have a clear ambition to invest for growth, with our medium-long term financial objectives to deliver 20%+ revenue growth and underlying EBITDA margin trending towards 45-50%. Our financial objectives will be delivered through our ongoing strategic 'initiatives in action'.

Further growth opportunities:

  • In addition to our strategic initiatives in action, we see the potential for further growth opportunities, such as entering new markets; winning large Financial Institution and multi-market customers and enabling new payment flows such as Business to Business (B2B) and Person to Person (P2P) payments. Such opportunities would allow us to deliver incremental revenue growth and EBITDA beyond our financial guidance, whilst also requiring further capital and margin investment, deployed through our carefully considered capital allocation framework.