Judopay offers businesses a flexible payment solution.
Digital and mobile-wallet payments have been increasing year-on-year. They now account for 33% of eCommerce payments in the UK and 45% globally, according to the latest Global Payments Report, with Asia-Pacific wallet payments already at 60% of ecommerce and growing.
Since 2020, the rise has accelerated even further with significant moves in sectors like hospitality and leisure, quick-service restaurants and others to provide ‘order and pay’ or ‘pay at table’ apps for customers to use. Plus, other early app-commerce-adopting sectors like parking and taxis are going from strength to strength. This fast-growing demand needs a specialist payment service provider – and Judopay is the only one that is truly mobile centric.
Rising to the challenge
When the pandemic changed lifestyles and shopping habits in 2020, businesses and consumers suddenly relied even more heavily on mobile. Retailers and other suppliers needed a mobile payment service provider they could trust to process transactions efficiently, and to help increase sales. Judopay stepped in to provide that vital facility, joining forces with Barclays and dedicating all its efforts to meeting the rapid increase in demand.
As well as providing reliable mobile checkouts to support growing sales, Judopay offers customisable payment pages, hosted payment pages, QR code payments, alternative payment methods, and simple integrations with payment products such as Pay by Link – all as standard. It gives businesses a flexible payment solution, working with them to build their ideal payment set-up for acquiring options, fraud tools, payment methods and smart routing.
Despite being one of the smaller payment service providers in the UK (with only 50 employees), the company handles payments for some of the biggest brands – including Itsu, KFC, Young’s Pubs, Revolution Bars, Autocab, JustPark, Connect Cashless, Countrywide, Hiscox and many more.
Since launching in 2012, Judopay has achieved:
- 84% revenue growth
- 96% CAGR 2016-2019 total recurring revenue
- 59% CAGR 2016-2019 total annual transaction value
- 137% CAGR 2016-2019 total annual transaction count.
The company has also been chosen as the key launch partner for payment methods such as Apple Pay, Google Pay, Pay by Bank app and Click to Pay. Plus, Judopay’s services have resulted in a significant revenue uplift for its customers, whether they’re launching a new mobile offering or growing an existing one. It has also started to grow its business internationally, for example winning the contract for KFC across Western Europe.
Judopay is planning to significantly expand its operations in the coming years. It has invested in its technology platform to ensure it has global capability, peerless reliability, and limitless transaction capacity, as a 100% cloud native company on the Google Cloud Platform. The company has exciting growth plans to expand into different market segments and additional geographies.
How being part of Rise has helped
Rise London has played a significant role in helping Judopay to grow its business, and is very much the company’s ‘home’ – with superb office and meeting room facilities, a central location, and a vibrant environment among many different fintechs. Also, the Rise and Barclays teams provide highly valuable networking support. Judopay’s staff love the Rise environment, as do its customers and business partners, and the business has benefited from the many introductions Rise has made over the years.
Jeremy Nicholds, Judopay’s Chief Executive Officer, talks about some of his influences.
If you hadn’t set up your company, which company would you most like to be part of?
I’ve worked for some great companies in my career – including Visa and Mastercard – two of the world’s largest brands. Apple has always been an inspiration to me in terms of its focus on customers, its approach to product design and the power of its marketing. Judo is a great little company and has the potential to develop into an amazing company - and that’s inspiring!
Which entrepreneur would you most like to go for a coffee with?
Elon Musk or Jeff Bezos … in a space ship ideally!