(The figures in brackets refer to the same period of 2011 unless otherwise specified.)



  • The transaction volume for the first quarter was SEK 1,067,385 thousand (955 706), an increase of 11.7 per cent compared to the same period of last year.
  • Transaction-based revenue for the first quarter was SEK 7,660 thousand (7,284), up by 5.1 compared to the first quarter of 2011.
  • Profit/loss before amortization decreased by SEK 227 thousand to SEK 387 thousand (614).
  • Profit/loss after tax improved by SEK 77 thousand to SEK -1,172 thousand (-1,249).
  • Earnings per share were SEK -0.01 (-0.02).
  • Together with its partner Scandisys, Paynova has developed a new solution for processing of card payments over the telephone. The solution is targeted mainly to the travel and hotel industries, which need to upgrade to more secure technology in response to stricter rules for storage of card numbers.
  • Paynova has added the payment method Sofort, a type of direct payment that gives e-merchants access to consumers in a number of European countries.


Thanks to a new connection to the e-commerce solution Magento, Paynova can launch its entire range of payment services to all e-merchants that use the Magento platform.



The transaction volume and gross revenue for the first quarter increased over the same period of last year. Cash flow is positive, but earnings are burdened by continued high costs for amortization. Sales activities are proceeding according to plan and have among other things resulted in an agreement with the online travel agency Resia that was signed at the end of the quarter. Aside from the Nordic region, we have also signed with new customers in the German and Italian markets.

Paynova’s position as a wide platform for e-commerce was further improved during the period. Not only have we now integrated the e-commerce platform Magento, which gives all Magento merchants access to Paynova’s services, we have also added the payment method Sofort, which is an important complement for the non-Nordic markets. In addition, Paynova is accentuating its capabilities for mobile payment solutions. In this area, Paynova has the major advantage of being an independent player that can deploy several different solutions side by side in our platform, evaluate their performance and successively focus on the technology that is best received by the market.

First quarter revenue from the associated company Chinova was low. During the period, the company has enhanced its business model. In mid-May, following consultations with ChinaPay and the company’s main financier, Chinova’s board of directors decided to take the first step in upgrading the eMall in preparation for a full-scale launch that will have effects such as increased transaction growth starting in the third quarter of 2012.

Paynova is seeing rising demand for the value added service PLU S, which enables e-merchants to more easily reach multiple markets via an agreement with Paynova and achieve collective and efficient processing of payments from direct banks. I believe that this interest is fuelled by the fact that e-merchants’ need to keep their organizations cost-effective and therefore see valuable benefits in simplified administration.

There is a high level of activity on the marketing side. A seminar is planned for the autumn and a new website is expected to be launched before the summer of 2012.


Simon Thaning

Stockholm, May 2011


(For full report, see attached file)