Loomis Pay is a complete end-to-end payment platform for merchants and manages all types of payments, including cash, card and other digital alternatives, both in store and online.
The ambition, in the first initial stage, is to achieve revenue, within 5 years, exceeding SEK 3 billion. Loomis Pay is expected to generate a positive operating result during 2023.
During 2020-2022, investments will be made in product development and other activities for Loomis Pay.
The company expects approximately SEK 100 million per year will be recorded as net costs in the income statement.
Loomis Pay will first be offered to merchant customers in Denmark during the autumn of this year and to customers in the Swedish market at the beginning of 2021.