PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Public PF Quarterly Results
Square total net revenue up 44% for Q3. The company also reports a gross profit of $500 million (up 42% YoY) and a net income of $29 million (up from $20 million in 2018). “We continued to generate strong revenue growth at scale and are investing in our business to drive long-term growth,” according to the company. From Square’s 3Q 2019 Earnings Release.
Total revenue for Real Page grew 13% in 3Q. The company reports impressive numbers in other areas too, including a 29% increase in net income and a total GAAP revenue of $255.2 million. “Strong financial results for the quarter continue to be driven by our focus on innovation and simplification,” said Steve Winn, chairman and CEO of RealPage. From Real Page’s 3Q Earnings Report Press Release.
Big Brands Getting Bigger
MobiKwik sets goal for 250 million users. In an interview with MobiKwik co-founder Upasana Taku, plans were revealed to enhance fintech operations in an effort to grow from 110 million users (at present) to 250 million users over the next few years. The company aims to make 2021 their first full year of profitable growth, with an IPO anticipated for 2022-2024. From ET Rise.
China gets proactive about digital payments. The People’s Bank of China has taken a regulatory stance on digital by introducing a governing body that will oversee any momentum related to digital payments, blockchain products and fintech services. Under the watch of the central bank, responsibilities also include the certification of close to 11 different types of financial products. From FXSTREET.
Fintech poised to take India’s financial inclusion efforts to next level. According to Ari Sarker, co-president, Asia Pacific Mastercard, fintech advancements are driving financial inclusion in India to a large degree. And Mastercard is doing their share to further the progress with consumer education, merchant education and a proprietary app that caters specifically to farmers – helping them gain access to pricing and other produce information in up to 10 different states. From Fortune India.