#Fintech and #MobilePayment
#Apps; #Stocks to Watch (NASDAQ: $APCX) (NYSE: $SQ) (NASDAQ: $PYPL) (NASDAQ: $RPAY)
@AppTechCorp @Square @PayPal @REPAYholdings
#P2P is Here with
Convenience for #Consumers and #Business
Vancouver,
Kelowna, Delta, BC – June 26, 2023 - Investorideas.com, a
leading investor news resource covering Fintech stocks releases a special news report
on the mobile-to-mobile payment market featuring fintech company AppTech
Payments Corp. (NASDAQ:APCX).
Read this article,
featuring APCX in full at https://www.investorideas.com/news/2023/technology/06261Fintech-Mobile-Payment-Apps.asp
Well-known
peer-to-peer mobile payment apps currently include Venmo,
PayPal, CashApp and Zelle. Mobile-to-mobile payments enable consumers to finalize
transactions with a single tap; a convenient option for both businesses and
their customers.
According
to ReportLinker, ”The
global p2p payment market grew from $2.62 billion in 2022 to $3.04 billion in
2023 at a compound annual growth rate (CAGR) of 16.4%. The Russia-Ukraine war
disrupted the chances of global economic recovery from the COVID-19 pandemic,
at least in the short term. The war between these two countries has led to
economic sanctions on multiple countries, a surge in commodity prices, and
supply chain disruptions, causing inflation across goods and services and
affecting many markets across the globe. The p2p payment market is expected to
grow to $5.61 billion in 2027 at a CAGR of 16.5%.” The P2P Payment
Global Market Report 2023 names leaders such as: SnapCash,
Square Inc., TransferWise Ltd., WePay Inc., Wise Payments Limited, and Zelle.
Fintech
innovator AppTech Payments Corp. (NASDAQ:APCX) has
been building an impressive list of partnerships and just
recently announced it has
entered into a Strategic Partnership Agreement with InstaCash,
Inc. AppTech will license its patent portfolio and develop, launch, and manage InstaCash’s
mobile-to-mobile payment system.
From the news: InstaCash,
Inc. is a peer-to-peer instant payment app similar to Venmo, Zelle, and Cash
App but will offer lower transfer fees and more advanced security protocols.
The payment system will facilitate business-to-business, consumer-to-business,
and consumer-to-consumer or person-to-person (“P2P”) transactions. AppTech will
develop mobile and web-based applications for the contactless payment system,
which will feature digital banking services and Visa/MasterCard sponsorship.
AppTech will also provide user support services and an equity stake in
InstaCash.
“This
partnership is a strong validation of AppTech’s specialty payments division
incorporating our patented technologies into our client’s vision,” said Luke
D’Angelo, Chief Executive Officer of AppTech. “The agreement will allow us to
demonstrate the core differentiation of our Fintech platform, Commerse™. This
platform is a patent-backed, modular, cloud-based solution with
industry-leading security features. We look forward to working with the
InstaCash team and our network of banking partners to develop and manage the
platform,” added Mr. D’Angelo.
AppTech
Payments Corp. also recently announced it will
join the Russell Microcap® Index at the conclusion of the 2023 Russell indexes
annual reconstitution, effective after the US market opens on June 26.
Repay
Holdings (NASDAQ:RPAY), a
leading provider of vertically-integrated payment solutions reported in
mid-June that it is adding PayPal and Venmo to its suite of payment solutions,
making them available to clients across REPAY’s verticals, including personal
finance, auto finance, credit unions and mortgage.
From the news: With
its expansion of digital wallet capabilities, REPAY will enable clients to
accept seamless payments with PayPal and Venmo, offering secure and convenient
payments through a web browser or mobile app, and eliminating long payment
forms. Through direct integration to the REPAY payment platform, this expansion
is designed to help clients boost their overall revenue, as companies have
found supporting preferred payment methods makes customers more likely to make
payments on time
Square,
Block, Inc. (NYSE: SQ) announced in late
April it had launched Tap to Pay on Android for sellers across the US, Australia,
Ireland, France, Spain and the United Kingdom. The new technology empowers
sellers to securely accept contactless payments with a compatible Android
device, and at no additional cost.
From the news: “With
Tap to Pay on Android, Square is making it even easier for new sellers and
established businesses to conduct in-person commerce. Using a compatible
Android device, a seller simply opens the Square Point of Sale, Square
Appointments, Square for Restaurants, or Square Invoices app, enters the sale,
and presents their smartphone to the customer. From there, the buyer will see
the total they owe along with the familiar contactless payments symbol, and can
choose to complete the payment with a contactless credit or debit card, or a
digital wallet such as Google Pay.”
Venmo,
a leader in the P2P space and a subsidiary of Paypal Holdings ( NASDAQ: PYPL), announced in late April the evolution of its
service into crypto saying, “We
are taking steps to make the management and movement of cryptocurrencies
(crypto) for Venmo customers easy by introducing the ability to transfer crypto
to friends and family in the Venmo community. Customers will also be able to
transfer to a PayPal account and to external wallets and exchanges, delivering
more choice and flexibility in how they move and manage their crypto.”
Looking
at the history, an article in Businessmodelanalyst.com reports,
“Acquired in 2013, PayPal has owned Venmo ever since. The company was launched
in 2009 by two friends, Andrew Kortina and Iqram Magdon-Ismail; however,
Venmo’s ownership has shifted ever since, at least twice, to two different
companies, lastly being acquired by PayPal LLC.”
“Venmo
is an American mobile payment app for transferring or sending money between
friends and families. In 2021, Venmo processed a total of $230 billion payment
and made approximately $850 million, an almost 90% increase from what it made
in 2020. Venmo is currently being used by over 80 million people, most of whom
are based in the United States. Although PayPal is the current owner of Venmo,
it wasn’t the first to acquire the mobile paying company, as Braintree first
acquired it in 2012, just three years after its launching. Less than a year
later, PayPal became the owner of Braintree, indirectly becoming the owner of
Venmo.”
Introspective
Market Research says,
“The high level of competitiveness in the market for peer-to-peer payment
methods, along with the significant presence of service providers worldwide,
creates opportunities for the introduction of new convenient services. This
competitive environment encourages various players to offer a wide range of
products and services to cater to the needs of a large user base. The intense
competition drives contenders to vie for the top position, often resulting in
acquisitions or collaborations with new rivals.”
AppTech
Payments Corp. (NASDAQ:APCX) is
betting its strategic partnership agreement with InstaCash, Inc. is a
collaboration that will be a win-win for consumers and businesses and
ultimately, its shareholders.
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