Tencent-backed Primer, the unified infrastructure for global payments and commerce, has on Tuesday announced it’s on track for 200 percent year-on-year revenue growth, as demand for unified payments continues to grow worldwide.

Primer said in a statement that the growth is due to global enterprise merchants recognize the role of payments in creating new commerce experiences, streamlining costs, and accelerating growth.

Entering its fourth year, Primer said it will continue to double down efforts within Asia Pacific (APAC), where it projects a 280 percent year-on-year growth.

According to the firm, recent investment from Tencent underscores its value in Asia, enabling businesses to navigate the region’s fragmented payment ecosystem.

It is noted that the company has established partnerships with regional brands, including Beam, One Championship, Dabble, and Buy-Now-Pay-Later provider Zip, supporting them in designing their payment strategy to accelerate growth into new global markets and meet diverse customer expectations.

As the first open infrastructure to unify the payments ecosystem, Primer said it is uniquely placed to address the fragmentation that creates significant complexity and cost for global businesses.

It is noted that in the European market, Primer has cemented its stronghold, where revenue is projected to increase by 400 percent year on year.

This was following the launch of strategic partnerships with industry leaders like travel experiences platform GetYourGuide and furniture retailers Conforama and Maisons du Monde.

A remote-first company since its founding in 2020, Primer has employees in more than 30 markets, serving global enterprise merchants across retail, travel and experiences, ticketing, entertainment, fintech and marketplaces, offering local payments expertise alongside its market-leading product suite across payment acceptance, optimization, and intelligence.

The firm has raised over $94 million, backed by the investors Tencent, Iconiq, Accel, Balderton, and RTP Global.

“The payments ecosystem has reached a tipping point,

“It’s become too fragmented, opaque, and complex for businesses to manage, creating unnecessary costs and stifling their growth potential,” said Gabriel Le Roux, Co-Founder and Chief Executive Officer of Primer.

According to him, Primer is the first to provide a true solution to this challenge, allowing businesses to remove all the complexity around managing payments and focus on using them as a strategic tool to accelerate growth.

“It’s an incredibly exciting time for Primer as more organizations seek a payments infrastructure tailored to their unique needs, capable of sustainably scaling their growth and igniting innovation across the business,

“With our world-class products and growing team of payment experts, we’re uniquely positioned to deliver what these businesses need and, ultimately, return of investment (ROI) on their payment investments,” he added.

With transaction volumes through Primer’s infrastructure set to hit 280 percent growth in the coming financial year, the firm said it continues to invest in the reliability of its platform as well as evolve its product suite, helping global businesses to accept, optimize, and manage their payments more easily than before.

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