Q&A with Svetlio Todorov at emerchantpay

Svetlio Todorov emerchantpay

Modernising payment infrastructure offers numerous advantages, such as streamlined processes, cost savings, and improved customer experiences. In today’s market, customers demand convenient, rapid, and secure payment methods.  

Businesses that cannot meet these expectations risk losing customers to rivals. Staying ahead of the competition is essential for attracting and retaining customers and remaining competitive in a dynamic marketplace. 

UK and US consumers both embraced digital or mobile wallets for online transactions, yet their payment method preferences differed significantly. While around 30% of UK online shoppers opted for debit cards, their counterparts in the US showed a distinct preference for credit cards following the height of COVID. 

Payments Consulting Network Commercial Director, Matt Jones, recently spoke with Svetlio Todorov, Managing Director at emerchantpay to discuss emerchantpay’s growth journey and their product offering. Svetlio was an early employee of emerchantpay so it was great to discuss how the company has grown from a small team to having a global presence across 19 countries and over 500 employees.

As emerchantpay’s Managing Director and through his previous roles within the organisation, Svetlio has contributed significantly to the global expansion of emerchantpay. He has demonstrated excellence in his field and, with his unique and extensive insights into the industry, continues to empower emerchantpay’s partners and merchants to thrive and scale internationally.

In its early years, the company mainly operated as an ISO but it was not long before the company took on a Payment Institution (PI) license in the UK, and then an Electronic Money Institution (EMI) license – becoming an acquirer as well as an issuer. The company initially focused on the e-commerce sector, strengthening its online payments option but due to increasing demand, it has expanded to offer card terminals for in-store payments as well.

I learned more about emerchantpay and their proposition from my discussion with Svetlio, highlights of which are shared below.

MJ: Please provide a brief high-level overview of your business

ST: emerchantpay is a leading global payment service provider and acquirer, established in 2002. We are on a mission to create a global payment ecosystem connecting businesses and consumers everywhere through seamless payment solutions in-store, in-app and online. Our global footprint covers a growing team of over 500 employees and 19 offices around the world. With our one-stop-

shop product offering and commitment to creating tailored payment experiences, emerchantpay helps merchants expand globally and maximise revenue in new markets.

MJ: What payments services do you offer merchants in Europe that look to expand cross-border?

ST: As the world moves towards a more unified digital future, cross-border payments continue to present opportunities and complexities for merchants looking to expand to new markets. emerchantpay enables merchants to overcome these challenges and expand globally with a robust cross-border payment proposition that includes in-depth strategic advisory and insights into the local payment landscape, 60+ global and local payment methods, 150+ processing currencies, more than 25 settlement currencies and FX capabilities.

Furthermore, our solution includes in-store payments with terminals available for Europe, the UK and the US, as MOTO and Pay by Link, and flexible integration options, as well as integrations with leading eCommerce platforms. To round off our offering, we provide advanced fraud management solutions, card issuing, performance optimisation and comprehensive reporting for our merchants.

MJ: What do you see as your key strengths with respect to merchant services?

ST: We provide payment solutions for merchants of various sizes and across different industries. At emerchantpay, we empower businesses to design seamless and engaging payment experiences for their consumers. With our unique customer centric approach, each merchant gets dedicated support with an assigned Account Manager and a Risk Analyst.

This allows us to truly understand the merchant’s business model, their requirements and aspirations, so we can truly help them build bespoke strategies to enable them to increase their payment systems’ efficiency and profitability, while expanding cross-border.

MJ: What were your focus areas and key achievements over the last 12 months in merchant services?

ST: Our recent achievements and growth strategies represent just a glimpse of our recent endeavours, as we look forward to a promising year ahead.

  • Expanding Payment Methods in LATAM: We have broadened our payment options to include popular local methods like Pix and Boleto, catering to diverse customer preferences in the region. 
  • Integration with New Platforms: We’ve seamlessly integrated our services with platforms like Umbraco, ensuring accessibility and convenience for our clients. 
  • Optimised Merchant Onboarding: The team has enhanced our merchant onboarding process for greater efficiency, streamlining the path to partner with us. 
  • Global Expansion: Establishing new offices in South Africa, England, and China, to mark significant milestones in our international presence, alongside reaching a workforce of 500 employees. 
  • Strengthened Partnerships: We recently announced our partnership with TrueLayer to offer seamless open banking payments to our merchants in the UK and EU. Furthermore, we have solidified our partnership with the prominent gambling operator Pinnacle, supporting their expansion into the Ontario market, underscoring our commitment to long-term collaborations. 

We are committed to constantly improving our services and products. And our plans include further expanding emerchantpay’s presence in Latin America and APAC, as well as prioritising accelerated automated boarding and supporting extensive ERP and ISV integrations.

In a nutshell, one thing is certain – 2024 will be another exciting year for growth for emerchantpay, our merchants and partners, so watch this space.

MJ: What key criteria or features should a business consider when evaluating payments service providers?

ST: It is paramount that businesses select a trusted payment service provider with demonstrated experience of processing in their target markets and a sheer dedication for customer service. Ensuring that the business’ expansion plans are in line with the payment provider’s is another key point to achieve mutual growth.

Furthermore, it’s important to make sure that the payment service provider understands the business’ unique model and is willing to go the extra mile to create a tailored solution that meets the business needs.

Particularly if the business aspires to expand in other markets, it’s imperative that the payment service provider offers robust cross-border solutions, with on the ground payments experts offering strategic advisory for a local payment strategy to facilitate sustainable business and revenue growth.

MJ: What industry changes or trends to do you see occurring over the next 2-3 years that will have a major impact on your business and/or your clients?

ST: This year will be all about simplification. Consumers and merchant expectations have shifted, and now mobile shopping experiences are well on their way to become a norm. Therefore, simplified and mobile-friendly payment processes are an ongoing trend that will vary into the next years.

Furthermore, scheme tokenisation in combination with Mastercard’s and Visa’s Click 2 Pay will continue to prevail and simplify the payment journey for consumers. Additionally, AI driven risk management will also be key, further improving data security and reducing the possibility of fraud for merchants.

Author: Matt Jones, Commercial Director, London, Payments Consulting Network
With over 15 years in the payments industry, Matt has worked with notable organisations like Barclays and Elavon, as well as startups in the fintech space. His expertise spans diverse commercial sectors, including direct engagements with major merchants and banks. Matt excels in procurement-level insights, adeptly handling pricing models, strategic planning, and competitive analysis.


emerchantpay is a member of our Payment Service Provider panel.


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