FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, Feb. 13, 2019 /PRNewswire/ -- A rising number of tech companies in the merchant services arena are gearing up for a strong 2019 by improving upon and offering custom solutions which includes businesses with the technology to seamlessly integrate cryptocurrency processing, payment facilitators, direct merchant accounts and secure platform services. Consumers have thousands of services and products to choose from and that pool has only grown larger as the global economy expands. To stay ahead of the curve, merchants are quickly adapting and able to recognize the need to innovate both online and in their physical stores. To gear up for innovation and stay ahead of the competition, many are turning to smart POS systems and other technologies to enhance the in-store experience, and deploying consumer-facing applications and tools for online. Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NYSE: SQ), Shopify Inc. (NYSE: SHOP), GrubHub Inc. (NYSE: GRUB).
In an example of the latest moves in the industry, The Financial Times covered the topic by citing Takis Georgakopoulos, the head of JPMorgan's new wholesale payments unit, reported the goal is to increase its market share during the next few years by increasing business with foreign multinationals as well as in the eCommerce market. In January JPMorgan merged its business-to-business treasury services and its consumer-to-business merchant services division to create the new unit that will go after the digital payment companies. That has enabled the bank to create an end-to-end payments network for eCommerce players from acceptance to payout.
NetCents Technology Inc. (CSE:NC) (OTCPK:NTTCF) (Frankfurt:26N) BREAKING NEWS: NetCents Technology is pleased to announce that it has entered into an agreement with Powered by ZOMONGO (ZOMONGO).
ZOMONGO is one of the fastest growing digital networks in North America and is currently in 90,000+ ZOMONGO merchant locations, 3.5 million hotel rooms, and 22 major airports, as well as having a strong social presence with over 600,000 followers. ZOMONGO's mission is to become the leader in this point-of-sale media by providing a fully managed, totally turnkey, digital signage, media/product dissemination, and couponing solution.
As part of this agreement, ZOMONGO will use the NetCents Asset Management System (AMS) to be the underlying technology that manages their new reward token, MONGOrewards. The integration of the NetCents AMS will allow ZOMONGO to launch MONGOrewards to their current userbase and to expand on that in a very cost-effective manner. "Our ultimate goal has always been to be and provide the underlying technology that enables cryptocurrency transactions to become mainstream by working with innovative companies like ZOMONGO," stated Clayton Moore, CEO of NetCents Technology.
MONGOrewards will debut this year during the Daytona Speed Week which includes the Daytona 500 on February 17, 2019. The Daytona 500 is the preeminent NASCAR event of the year with a track attendance exceeding 100,000 people and another 9.3 million people viewing across all platforms. At the event, ZOMONGO will have a large presence with their partnership with Norm Benning Racing. Read this and more news for NetCents at: https://www.financialnewsmedia.com/news-nc/
Other recent developments in the tech industry include:
PayPal Holdings, Inc. (NASDAQ: PYPL) recently the company announced that it has appointed Deborah (Debbie) M. Messemer, CPA, to its board of directors. Ms. Messemer has more than 30 years of experience advising public and private companies and most recently served as the managing partner of KPMG's Bay Area and Northwest region. Ms. Messemer will serve on the audit, risk and compliance committee of PayPal's Board. Her appointment was effective January 16, 2019.
"Debbie is a talented leader whose global perspective, strategic vision and expertise in business strategy and governance will be a valuable addition to PayPal as we continue to grow," said Dan Schulman, president and CEO, PayPal. "The board of directors and the entire PayPal team join me in welcoming Debbie to the board."
Square, Inc. (NYSE: SQ) recently the company announced that it will release financial results for the fourth quarter of 2018 on February 27, 2019, after market close. Square will also host a conference call and earnings webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day to discuss these results. The live webcast of the call can be accessed from Square's Investor Relations website at square.com/investors. A replay will be available at the same website following the call.
The company revolutionized payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or a tablet computer.
Shopify Inc. (NYSE: SHOP) the company, the leading multi-channel commerce platform, recently announced strong financial results for the quarter and full year ended December 31, 2018.
"We made history in 2018: no other SaaS company has crossed the $1 billion-dollar revenue mark at a faster growth rate than Shopify has," said Tobi Lütke, Shopify's CEO. "This milestone is significant due to the backdrop: Shopify allows people to partake in the entrepreneurial world who would otherwise not be able to do so. We have been focused on growing this market for the past 12 years even though a lot of people told us that this isn't a valuable business model. We let the results speak for themselves."
GrubHub Inc. (NYSE: GRUB) the company, the nation's leading online and mobile food-ordering and delivery marketplace, recently announced financial results for the fourth quarter ended Dec. 31, 2018. The Company posted revenues of $288 million, which is a 40% year-over-year increase from $205 million in the fourth quarter of 2017. Gross Food Sales grew 21% year-over-year to $1.4 billion, up from $1.1 billion in the same period last year.
"2018 was a transformational year for Grubhub. We made great progress connecting hungry takeout diners with the restaurants they want, further positioning ourselves to continue to capture a significant share of the more than $200 billion takeout industry in the U.S.," said Matt Maloney, Grubhub's founder and chief executive officer. "We deepened relationships with our restaurant partners through acquisitions of LevelUp and Tapingo, increased the number of restaurants that partner with us to more than 105,000, grew active diners on our platform by 3.2 million, and – most emblematic of the year – accelerated organic DAG growth on our marketplace every single quarter. We couldn't be more excited about building on this momentum in 2019."
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