PALM BEACH, Florida, March 22, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The deployment of NFC-ready payment infrastructure and growing popularity of NFC as a preferred mode of payment for customers globally is pushing the NFC enabled point of sales (POS) market. The trend of pay-by-phone, push of NFC compatible phones from various mobile phone vendors and rapid adoption of NFC handsets among the consumers is also accelerating the rollout of NFC-ready POS terminals in market segments such as retail, vending and parking. According to ResearchandMarkets, the POS terminals market was valued at US$ 55.75 Billion in 2017, and is expected to reach US$ 113.28 Billion by 2025, expanding at a CAGR of 12.9% from 2017 - 2025. The global POS market is supported by various growth drivers, such as rising e-commerce sales, financial services, increasing shipments of NFC enabled handsets, upsurge in number of hotels, resorts and spas, boom in number of smartphone users and increased use of mobile POS by small and medium enterprises. The flourishing Internet of Things is also a lucrative opportunity for the market players to capitalize on and also develop innovative offerings which integrate with advanced point of sale solutions using IoT. Active companies in the markets this week include Gopher Protocol Inc. (OTC :GOPH ), VeriFone Systems, Inc. (NYSE :PAY ), Pitney Bowes Inc. (NYSE :PBI ), NCR Corporation (NYSE :NCR ), Pareteum Corporation (NYSE :TEUM ).
Gopher Protocol Inc. (OTCQB: GOPH) BREAKING NEWS: Gopher Protocol, a development-stage company which specializes in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, effective March 1, 2018 acquired certain assets from ECS Prepaid LLC ("ECS"), including, but not limited to, the processing prepaid platform, servers, POS terminals, customer list, a processing software program and goodwill. The core asset of ECS is its processing software program, which Gopher intends to marry immediately into the prior acquisition of the UGO HUB and the UGO brand of products. Following its September 2017 acquisition of the UGO assets from RWJ Advanced Marketing, Gopher has been focused on integrating these assets into its operations. Gopher intends to upgrade the designated website for the brand, which is currently located at http://www.myugoonline.info/ - The coupling of the UGO and ECS assets will allow Gopher to "in house" process all of its PIN and financial products and will eliminate any dependency upon third parties for processing services allowing Gopher to curate and distribute a faster time to market.
ECS PrePaid's core operating system currently operates over 9,000 terminals in retail locations throughout the United States. These terminals process over 14,000 transactions a day and have capacity to entertain at least three times its current volume, without further software expense. This platform generated approximately $32 million in revenue for the year ended December 31, 2017 (unaudited), approximately $4.2 million for the month of January 2018 (unaudited) and approximately $4.3 for the month of February 2018 (unaudited).
In total, Gopher paid $1.2 million in cash, note and employment signing bonuses, issued 2,000,000 shares of common stock and 3,000,000 warrants to purchase shares of common stock for a period of five years at a fixed exercise price of $1.85 per share. "We believe this acquisition will uniquely position Gopher to establish our mesh network and connect with consumers. In addition, it allows us to fill a void in the market created by Pay-Pal's abrupt termination of their services in November 2017" stated Gopher CEO Greg Bauer. Read this and more news for GOPH at http://www.marketnewsupdates.com/news/goph.html
In other industry related developments in the markets of note:
To meet the needs of the rapidly evolving and growing payments technology landscape in India, VeriFone Systems, Inc. (NYSE :PAY ), a world leader in payments and commerce solutions, and Ezetap, one of Asia's most innovative software and payment processing players, announced a partnership to enable merchants to more quickly and easily adopt both instore and online payment acceptance. The scope and scale of the collaboration will bring together Verifone's best-in-class payment solutions and services, and Ezetap's excellence in software and payment processing, to deliver simple and secure checkout experiences for merchants and their customers in any sector. "The payments industry has undergone a global transformation in the last few years and India is on a fast track to match developed countries in terms of technology requirements and consumer demand," said Abhijit Bose, Chief Executive Officer, Ezetap.
Pitney Bowes (NYSE :PBI ) is a global technology company powering billions of transactions - physical and digital - in the connected and borderless world of commerce. Clients around the world, including 90 percent of the Fortune 500, rely on products, solutions, services and data from Pitney Bowes in the areas of customer information management, location intelligence, customer engagement, shipping, mailing, and global ecommerce. And with the innovative Pitney Bowes Commerce Cloud, clients can access the broad range of Pitney Bowes solutions, analytics, and APIs to drive commerce. The Company recently provided an update to its review of strategic alternatives, previously disclosed by the Pitney Bowes Board of Directors which can be read at: https://finance.yahoo.com/news/pitney-bowes-updates-review-strategic-173000279.html
Last month, NCR Corporation (NYSE :NCR ), a global leader in omni-channel solutions, launched its NCR WinEPTS payment solution that has been developed specifically for retailers and restaurants in Europe at EuroCIS 2018. An entirely hardware independent, cloud based solution that is omni-channel and omni-commerce ready, NCR WinEPTS can easily be integrated with instant payments solutions of European banks. Flexible payment options are an increasingly important part of a frictionless customer journey. While many retailers are capable of accepting e-commerce and in-store payments, they typically use separate systems for payments online and in-store. NCR WinEPTS helps retailers close this gap and enables them to offer a variety of payment options and services across all their channels and platforms.
Pareteum Corporation (NYSE :TEUM ), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced yesterday that it has signed a 5-year contract to provide Managed Service Platform (MSP) services to an Africa-based Mobile Virtual Network Operator (MVNO). Pareteum's Managed Services Platform will provide a fully integrated, single source solution that will enable its newest customer to provide multi-country digital applications, data services and traditional mobile services to its end users in Africa. This MVNO will provide Digital Wallet solutions, including Blockchain technology, to provide identity management, transaction settlements and payment solutions, safely and securely. Additionally, Branded Voice and SMS airtime services are enabled via Pareteum's solution suite for private labeling.
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