Could Global Expansion be on the Horizon for PAYSTRAX?

A fintech company from Lithuania, known as PAYSTRAX, partnered with a new platform. DisputeHelp last year. It was their aim to provide merchants with management solutions, in an attempt to help with chargebacks, fraud, and disputes.

Last year, they also received a Payment Institution License from the FCA. They're hopeful that they can transform the European market with advanced technology, which could make them a key player in becoming a cashless society. With so many bold moves happening within the company over the last few years, that begss the question, could they be set for global expansion over the coming years?

PAYSTRAX Have Made Big Moves in the Past 

Many fintech companies, including PayPal, have measures in place to prevent fraud. They also have the option of enabling two-factor authentication, along with support for biometric settings. PAYSTRAX, rather than looking inward to create new solutions, have partnered with DisputeHelp. This was a bold move but helped to create a whole new pipeline for the company. It also put power back in the hands of the people who use the platform.

Moves like this indicate that they are forward-thinking and aggressive in their approach to dominating the fintech market. Penetrating the UK was a wise move, considering that the country is one of the biggest in regards to financial tech. 

With that being said, it could also be a glimpse of what's to come. India has shown explosive signs of growth over the last few years, making them a viable market for the company to expand to next. Other countries, such as Brazil could also be potential markets, and should PAYSTRAX target them next, they would be on the path to worldwide expansion.

Partnership with DisputeHelp 

Bart Szypkowski once said that the ability to manage disputes and fraud in one place is what makes their company such a big player in the market. The platform is fast and efficient, not to mention that they are always looking into the latest technological advancements so they can stay ahead of the curve. They are currently using Verifi’s RDR automation technology, along with Compelling Evidence 3.0 by Visa. 

They’re a global leader, and their partnership with PAYSTRAX indicates that they fully intend to pursue global expansion. Their new deal not only gave DisputeHelp an entry point for the UK but also a whole new market. They also teamed up with PXP Financial in 2022, which has helped to set the pace for their current expansion. With PAYSTRAX teaming up with dominating forces like DisputeHelp, they're rapidly gaining access to new markets while solidifying their offerings. 

Focusing on security first could also allow them to gain a foothold in dominating markets, including the US. If they chose to partner with a company within the country then this would almost certainly help them to accelerate their already fast-paced growth. 

With payment security being a hot topic for 2024, PAYSTRAX have every opportunity of being able to pursue worldwide expansion. Markets like India, the US and even Brazil could be viable targets, and logical choices when you consider the demands of the sector, and what PAYSTRAX have to offer.