Market Overview

Emerging Economies are Expected to Drive the Digital Payment Utilization

Share:

Emerging Economies are Expected to Drive the Digital Payment Utilization

FinancialBuzz.com News Commentary

PR Newswire

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 Additionally, no client has withdrawn from the system to-date, and transaction volumes more than double every week.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.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For GreenBox Pos LLC. financial news dissemination and PR services, FinancialBuzz.com has been compensated four thousand dollars by Cambridge Consultants. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.



Media Contact:

info@financialbuzz.com  

+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com