SelfPay, the leader of the local self-service payment terminal market, recorded a net profit of 13.88 million lei in the first half of the year, up 195% over last year’s first semester, according to the company’s financial reports filed with the Stock Exchange. SelfPay SA, the company owning the namesake Pay Station network, has been listed on the Bucharest Stock Exchange (BVB) since 2021, following a corporate bond issuance with a nominal value of 3 million euros. The first six months of this year delivered excellent results for SelfPay, primarily as a result of the company’s investments in expanding the Pay Station network and developing the services available within the network. Thus, total revenues rose to 118.33 million lei, representing a 28% increase over the first half of 2023 (92.75 million lei), while sales increased from 86.78 million to 109.66 million lei.

During the same period, the SelfPay Pay Station network continued its expansion to more than 11,200 units spread across about 2,000 locations nationwide. All revenue-generating streams saw increases, with bill payment services standing out with a 62% rise, followed by financial services (58%) like loan installment payments, banking service intermediation, and e-money. “The excellent results we’ve had in the first six months of the year are in line with our business plan forecasts and reflect the company’s growth over the past few years,” says Adrian Badea, CEO of SelfPay SA. “They also show that we made the right strategic bet on diversifying the services offered through the SelfPay Pay Stations, thus entering new vertical markets such as cashier services for private companies and public bodies, or facilitating the payment of local taxes and fees in partnership with an increasing number of local entities—mostly, but not exclusively, municipalities and other local public institutions. An equally important role in our business strategy is played by the development of the SelfPay ecosystem through the SelfPay Now mobile app.”

Currently, through the SelfPay Pay Stations users have access to over 300 services, from mobile prepaid top-up payments to utility bill payments, purchasing travel tickets, event or lottery tickets, loan installment payments, as well as payments for toll fees, passport fees, driving license fees, and many others. SelfPay’s ongoing investments in the development of the SelfPay Now app or services for tax and fee payments demonstrate the company’s strategic commitment to innovation. `SelfPay is above all a fintech company that develops in-house the software underpinning the payment collection system installed on our Pay Stations. The results of our continuous investments are also seen in strong EBITDA growth, even considering the expenses incurred for the expansion of the Pay Station network, which has doubled in the last five years,” adds Adrian Badea.

Innovations such as Cash Deposit, a feature that allows SelfPay Now app users to instantly deposit cash onto their bank card at any SelfPay Pay Station, and the real-time money transfer feature (from an app user’s card to another’s, or between a user’s own cards), have also contributed to the growth in the number of transactions processed by SelfPay, which grew by 19% in the first half of the year over the same interval of 2023.

Since the app’s launch in 2022, it has been adopted by more than 400,000 users by the end of this year’s first six months. As of September, the number of registered app users has surpassed 500,000.