Realex Signups Up 38% for June

Recessionary Times Leading to Internet Entrepreneurship Claims Realex Payment's CEO Colm Lyon

Realex Payments has announced that a total of 110 new businesses signed up with the company during the month of June for online payment processing, up 38% on previous months.

The company, which provides a range of payment processing services for businesses selling online, believes the internet is a vital channel for Irish businesses and that it is continuing to grow in importance particularly in the current climate.

Its Founder and CEO, Colm Lyon (pictured) said, ". In many respects it's the ideal time to start a business. What we have witnessed last month is really encouraging, 110 news businesses seized the opportunity and signed up with Realex Payments to start selling online."

His view was echoed by Bernadette O'Reilly, the centre manager for the DIT Hothouse programme who are currently accepting applications for their programme. She told IrishDev.com earlier today that they themselves have seen a surge in the number of entrepreneurs developing high end technology services in the current economic environment (read more).

Realex Payments has witnessed a substantial increase in the number of e-retailers signing up to their service and of the 110 clients signed in June, 25% are e-retailers operating in the online marketplace.

Lyon says of this, "More and more consumers are bargain hunting online and as a direct result online retailing is the most popular choice for budding entrepreneurs. The clients signed by the Company this month are selling various items online including jewellery, IT supplies, alarm systems, party supplies and so on. Nothing is too big or small to sell online!"

Lyon, who is also leading the Internet Growth Alliance, a group focussed on helping Irish based internet related companies scale internationally, continued, "Selling online is a very cost effective way to start a business, little capital investment is needed, you just need invest in a website. From our perspective, we introduced a specific SME rate to enable start up companies to seize the online opportunity, which costs just €29 per month, less than most people spend on their mobile phone bill."

As well as this increase in the numbers of businesses selling online, Realex Payments has also noted a significant increase in the value of its monthly processing. In June Realex Payments processed over €540 million worth of payments, an increase of over €60 million on the figures for May.

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