Name change is the ‘culminating point’ of RS2’s ‘decade-long evolution,’ says CEO Radi El Haj

CEO Radi El Haj has highlighted that the name change from RS2 Software plc to RS2 plc is the “culminating point” in the software company’s evolution and expansion into different markets.

The global payment processing and technology company announced the corporate name change on Thursday, with immediate effect.

RS2 stated that the amendment in its corporate identity aligns with its strategy in pivoting from exclusively developing and implementing payment software solutions to “playing a broader and integral role across the entire payments value chain”, including as a payments processor and acquirer.

“The name change is the culminating point of a decade-long evolution from a pure software enterprise to a leading-edge payment processor, embodying steadfast dedication to innovation, customer-centric solutions and services, and market-driven agility,” Mr El Haj explained.

RS2 Group Chief Commercial Officer (CCO) Gideon Fourie remarked that as the company realigned its strategy and directed its efforts towards new processing solutions, while at the same time continuing to provide development and maintenance services, the name RS2 Software “no longer reflects” the essence and identity of the company.

“We want our clients and markets to understand that RS2 is not limited in how far we can support growth in the payments market. The company facilitates an extensive array of products that allow our clients to scale in both offering as well as global reach,” he added.

Malta-headquartered RS2 is a leading provider of omni and multichannel payment software and end-to-end payment solutions for both issuers and acquirers on a single payment platform for banks, large financial institutions, integrated software vendors, and other entities. The company reported a pre-tax profit of €1.8 million in its Annual Report for 2022, a drop from its €6.4 million from the previous year, largely due a surge in cost of sales.