Ticket to RideThe PayiQ Blog
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.
These days every new smartphone application is fighting for the user’s attention, but users are getting tired and overwhelmed with the continuous need for more and more single purpose apps. The more customer demand one app can cover, the better value the user receives.
Pollution. Traffic jams. Not enough parking.
The current need for better public transport systems and a greener future are clear. As of now, mass transit creates 25% of CO2 emissions in Europe, but the industry is facing a change as Europe aims to become the first climate neutral continent.
The shift to mobile may be old news in some industries, but in others, like mobility, it still powers significant change. That’s at least our explanation for our growing numbers. For example, at the beginning of 2022, we saw the best daily sales in the history of PayiQ.
It’s no secret that running a smart mobility company has been challenging when people stay at home. But now, the tide is turning, and we are in an excellent position to ride the recovery wave. For PayiQ, Q3/21 was our best quarter ever. People are moving again, both our revenue and customer base hit new highs, and we just finished a successful investment round.
The trend of Super Apps is coming to the West from the East, where the biggest players have won the attention of users and become front-screen apps that continuously add new services. While many Super Apps originated from messenger services, there are other players, such as Grab, Gojek and Ola, which started from the transportation business. And we believe this origin brings tremendous potential for an app to become Super App.
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Ticket to Ride is the monthly blog of PayiQ. If you need to know where smart cities and smart mobility are headed, don't miss the bus. Subscribe to our newsletter today.