NEW YORK, July 18, 2018 /PRNewswire/ --
According to a research report by the consultancy company, Capgemini, and bank BNP Paribas, the global digital payment volumes are projected to surge by an average 10.9% by 2020, reaching approximately 726 Billion transactions. The report estimates that volumes generated by emerging economies will grow by 19.6%, which is about three times the rate of mature economies. Emerging Asian countries, led by China and India, are expected to lead with growth of 30.9% in volumes. Increased digitization of corporate B2B payments is affecting digital the payment infrastructure. In mature markets, more and more small and medium-sized businesses are using digital invoicing and transactions, virtual cards, as well as cloud-based finance and accounting. GreenBox Pos LLC (OTC: GRBX), SinglePoint Inc. (OTC: SING), PayPal Holdings Inc. (NASDAQ: PYPL), Square Inc. (NYSE: SQ), VeriFone Systems Inc. (NYSE: PAY)
The blockchain technology is expected to play a major role in the future of digital payment processing solutions. The report indicates that in trade finance, banks and FinTech companies are exploring blockchain-based smart contracts to optimize transactions. Anirban Bose, Head of Global Banking and Capital Markets for Capgemini, explained that, "Within this new and dynamic ecosystem, payments industry participants must strategically reassess their roles… Banks must embrace this opportunity to enhance their offerings in collaboration with FinTechs and third-party developers. Breakthrough technologies and significant industry advances, such as Open APIs, instant payments, blockchain, and regulatory standardization, will encourage collaboration."
GreenBox Pos LLC (OTCQB: GRBX) yesterday announced breaking news that, "its latest payment system, QuickCard, demonstrates impressive market performance metrics. Since its launch in May 2018, the blockchain-powered e-Wallet has performed without flaw.
GreenBox POS reports that over 98% of all transactions using QuickCard end with a client downloading and installing the new application on any platform. Additionally, no client has withdrawn from the system to-date, and transaction volumes more than double every week. The Company expects average daily transaction volume to surpass USD 1 Million in Q4/2018."
"We are pleased to announce impressive market performance metrics for QuickCard and look forward to achieving a record fourth-quarter in terms of transaction volume," states Ben Errez, EVP of GreenBox. "The system passed all stress tests to-date and is on its way to becoming the new standard of payments."
SinglePoint Inc. (OTCQB: SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The Company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. In June, the Company announced it is set to launch the cryptocurrency application and national commercial campaign in the coming weeks. The crypto application, which was co-created with AppSwarm, is planned to launch in the coming days on IOS and Android devices. Once fully published, SinglePoint will be able to launch the national ad campaign that is already approved on multiple national media outlets.
PayPal Holdings Inc. (NASDAQ: PYPL) recently announced that Uber and Venmo are partnering to deliver a seamless new payment experience available with Uber and Uber Eats. Uber customers in the United States ordering rides and food will soon be able to pay with their Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app, for no additional fee. Venmo, a service of PayPal, Inc., is a leading mobile app in the U.S. used to move money between friends and family and pay at millions of retailers.
Square Inc. (NYSE: SQ) creates tools that help sellers start, run, and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Square's point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage customers, and grow sales. The Cash App is an easy way for businesses and individuals to send and receive money, and Caviar is a food-ordering service for popular restaurants. In June, the Company announced updates to its second quarter and full year 2018 guidance to reflect the impact of its acquisition of Weebly, Inc. Square is raising its guidance for total net revenue and Adjusted Revenue to reflect the contribution from Weebly.
VeriFone Systems Inc. (NYSE: PAY) is a world leader in payments and commerce solutions. Recently, the Company and Bluefin announced a partnership to provide Bluefin's PCI-validated Point-to-Point Encryption (P2PE) security solution to merchants using either Verifone's POINT or Retail Transaction Switch (RTS) solutions. Through this partnership, merchants can reduce not only the cost and effort they incur when trying to comply with PCI PA DSS requirements, but also mitigate the risk associated with face-to-face payments. The Verifone Validated P2PE solution is an incremental offering within Verifone's industry-leading payment security product line. This validated P2PE solution is designed to meet the needs of merchants of all sizes and offers multiple configurations and processing options.
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