MIKAEL LIJTENSTEIN INSIDERS
2021: The year of the doer Astropay CEO Mikael Lijtenstein discusses how the company is making things happen in 2021, as well as new payments trends that are shaking up the gaming ecosystem HOW MUCH HAS YOUR TYPICAL DAY AS CEO CHANGED IN 2021 COMPARED TO PREVIOUS YEARS? Defying is the word that best describes 2021 and all the challenges it brought. As last year forced us to have a different perspective on life and business, I consider this as the year to grow and reinforce our operations with a strong focus on people. Due to the pandemic, we have transitioned to a home-working basis where communication skills are paramount to build a sense of belonging among our co-workers. Providing clear messages, giving context to decisions, listening to people and promoting online team building instances make the difference while generating commitment. We define ourselves as doers, and this is what 2021 has been about so far: making things happen. The company is growing at a steady pace, tripling the number of workers so far. We have grown our user base to more than two million across the world. The increasing number of merchants that partner with us, as well as the variety of payment methods we offer in the markets where we operate, is evidence we are on the right track. In reference to the search of new markets, our operations in Europe are ramping up specially in the UK, Spain and Portugal, as well as in Japan and Bangladesh, adding up to the LatAm, Indian, China and African markets. HAS 2021 PROGRESSED IN THE WAY ASTROPAY WAS EXPECTING, AND WHAT ARE YOUR EXPECTATIONS FOR THE REST OF THE YEAR? Currently we are in the process of deploying our operations in new markets like Europe, Bangladesh and Japan. Therefore, we are hiring professionals all over the world. We have defined a new HR policy in which there are no geographical boundaries; we want the best people to work with us no matter where they are located. Another reason for employing in different parts of the world is to better understand the market’s culture where we operate. Being close to
our clients is one of our strengths. On the other hand, we continue improving user experience to make the journey as seamless as possible, adding new functionalities to our digital wallet, One Touch. Receiving feedback from our clients and performing A/B testing gives us reliable information to provide a better environment for our consumers. The number of merchants that rely on us has increased notoriously this year, reaching a total of over 500 and growing. Moreover, we are navigating new verticals: gaming and esports, in addition to e-commerce, where we believe we can contribute plenty. HOW FAST IS CASHLESS GAMING NOW GROWING, AND IN WHAT AREAS IS IT GROWING FASTEST? Cashless gaming is growing at a steady pace and we strongly believe it is here to stay. This shift was going to happen one way or another, but it has been accelerated by the Covid-19 pandemic with its urgency to avoid contact and the increasing amounts of online interactions. However, we have observed that this trend has its nuances according to the reality of each country. Even though developed regions have their cashless culture widely spread, emerging countries like India for example, present growing possibilities that are endless. Millions of users are unbanked and find it really difficult to access digital money. AstroPay provides them with the possibility to purchase a prepaid card, or to use our multicurrency digital wallet to deposit on thousands of international sites – as well as to withdraw money or transfer it. ARE THERE ANY NEW PAYMENTS TRENDS TO LOOK OUT FOR WITHIN GAMING, AS WE LOOK AHEAD TO 2022? All forms of digital payments are becoming popular among users, where digital wallets and cryptocurrencies stand out. By 2022, digital wallets on mobile
devices are expected to be the dominant point-of-sale payment method in the industry. With an increasing proportion of consumers no longer using cash, operators face the challenge of how to enable digital payment systems. We are in a world in which there is less contact, and people’s habits are changing constantly. These dynamics are creating a golden moment for payments providers that are promoting a cashless revolution, by encouraging consumers and retailers to use cards and smartphone apps. Some studies show technological innovations will increase digital payments by up to 14% by next year, to over a trillion transactions worldwide.
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