Our First 100 Million Transactions


Klas Bäck

CEO & Co-Founder of Pagos

May 9, 2022

May 9, 2022

May 9, 2022

We exceeded 100,000,000 transaction events on our platform over the weekend. This is a HUGE milestone achievement, reached a lot faster than we had planned! With that, we want to pause to consider and celebrate the efforts that got us here.

Measuring Progress

We set goals we could use to track ourselves against when we started on the Pagos journey last year. One of the clearest early signals of growth we could think of was processed transaction events. This is basically all the orders or payments our data engine sees and builds models on to provide actionable insight for our customers and partners, as well as events related to payment optimization and execution such as authorizations, refunds, chargebacks, and more. We don't need to actually process customers’ payments in order to do this, and in most cases customers can benefit from our services using only our no-code solutions

We started tracking processed transaction events in December of last year after we reached 750,000 events mid-month. At the time that felt like a lot of growth and a big number to achieve since announcing Pagos to the public and going live with Peacock. To put that big moment in December into perspective, though, we processed more than 750,000 transaction events each day last week, and we crossed the 100,000,000 mark over this past weekend. Not only did we process a lot of transaction events, there is a huge variety within that data: customers processed in 56 currencies across cards in 212 countries and 50+ payment brands. Our BIN data service, Parrot, now actively pulls data across more than 60,000 BINs representing more than 12,000 issuers around the world.

These are huge achievements to accomplish over the past five months! That so many customers have entrusted us with their data shows us that we are on the right path and that there is much more value to withdraw from the payment stack. It’s also incredibly meaningful to be able to work with such inspirational and well-known brands.

Flying Fast

Some key moments in our adventures thus far:

  • We launched our first service in June 2021 though we hadn’t even launched payroll in the US. That happened in July when we reached the five US based employee threshold most PEO providers require. (We had international birders—AKA teammates—in advance of this.)

    • An aside and a recommendation to fellow entrepreneurs: Justworks is our partner for PEO, and they’ve been fantastic. We really appreciate how they think about culture and remote-first priorities.

  • In September we launched our first real enterprise product, Peacock, and have expanded its offerings even further since then.

  • Before we knew it, we announced we’d raised our Seed round with great partners such as Underscore and Point72 alongside some amazing angels who have been providing key guidance or inspiration when needed. We enjoy working with all of them and are grateful for their commitments to our growth and success! 

  • We announced three more products over the next few months: Canary, Toucan, and Loon.  These birds provide merchants with advice and paths to action to increase their businesses’ growth and improve their users’ experiences.

  • We also recently welcomed Infinity Ventures into the investor mix: they’re experienced, super connected, and bring unique competencies to the table!

  • As of May we’re at more than 40 birders spread across 7 countries, 12 states, and 7 time zones.

Building Community

Humans are at the center of what we do, and we are grateful for our teammates’, customers’, and partners’ trust and engagement as we’ve pursued our mission to reduce payments complexity and foster a community of learning and growth across the industry. Whether it be via conferences like The Big Transaction and MRC or partnerships with Visa, Mastercard, AmEx, Discover, and others, every relationship built helps deliver better solutions to big challenges in the industry and results in amazing experiences for our customers. We measure our success not just in numbers but in customer feedback like this:

“In terms of technical work, my tech lead took a look at your docs and was extremely pleased.”

“Seeing the data normalised in one place will save us a lot of time!”

"There's a lot of interesting data you can get just by running a BIN...this is where you can start to get really sophisticated in terms of how you want to optimize or route transactions but it starts with understanding who the issuer is: is it credit? is it debit? I think the other use case we're seeing a lot of traction on from an intelligence and insights perspective are these one-time use ghost cards that the BNPL folks are pushing out. it's really important to me as a merchant to understand where those cards are coming from and what's really happening for a myriad of different reasons..."

“I love the demo and what you have built here, very exciting”

“The fact that we can create automated insights with Pagos without doing any integration work is very interesting.”

Thank you for your encouragement and support along our journey! This is just the beginning. We’re excited for what’s to come. Interested in learning more about what we do? Check out our resources:

Share on X