ÄLYKÄS LIPUNMYYNTIRATKAISU ÄLYKÄSTÄ TULEVAISUUTTA VARTEN

After Q1, PayiQ still finds itself firmly on the growth track we established in 2022. Ticket sales through our apps were up by more than 20% in the first quarter compared to last year. The increased sales are coming from all over Finland, not just from our stronghold, the greater Turku region. There’s no reason to think that the growth will not continue.

Transport benefits for large corporations are a bright idea. They generate sustainability, ease the flow of a workday, and lessen traffic congestion. However, offering these benefits has also proven to have negative aspects. Benefit misuse due to the amount being stored on the transport card is not uncommon, and the act of card top-up requires extra time and effort from staff members.

While I am extremely proud of what our team accomplished in 2022, I would not want to revisit it, ever. At the year’s start we already faced serious challenges since the global pandemic had cut deeply into our core business of mobile ticketing, squeezing our cash flow and freezing our expansion plans.

No one would like to revisit 2020, but the transition to 2021 doesn’t feel easy either. While 2020 was a battle for survival for many, 2021 might be the battle for the survival of the fittest. It is a somewhat exhausting thought but at the same time an invigorating opportunity.

Nowadays we observe how many banks are going through metamorphosis towards high-tech companies with a banking license. Many banks started to apply the term “ecosystem” in their business vocabulary. Big actors are aiming to become serious competitors to one-stop tech companies like Google, Amazon, and Alibaba. At first, this approach was perceived ambiguously by participants in the banking sector. But now it is becoming quite obvious that the chosen strategy is valid and far-sighted. For example, Russian Sberbank ecosystem includes more than 20 companies which are not directly related to the traditional banking business.