- iSignthis’ share price is up nearly 15 per cent today, currently sitting at $0.80 per share
- Revenue is reported to be up 240 per cent from last quarter, sitting at $6.3 million
- iSignthis uses in-house tech to enforce identification and verification for secure e-money transfers, combatting fraud and theft
E-money service iSignthis’ share price climbed nearly 15 per cent today after company CEO John Karantzis presented an investor update.
Between April and June, the company’s revenue skyrocketed 240 per cent from the first quarter of 2019 – going from $1.85 million to $6.3 million respectively.
The company’s cashflow is reported as positive as well, standing at $1.357 million and its cash at bank is at $9.99 million.
iSignthis provides secure electronic money transfers. A focus is placed on identity verification for theft and fraud prevention.
The company is authorised as a European economic area monetary financial and payment institution.
Its license allows iSignthis to issue e-money and international bank account number accounts, as well as to operate transactional banking and card services Europe-wide.
According to the company, these services are soon to be made available in Australia.
A series of in-house programs allow iSignthis to run a “financial ecosystem,” according to the company.
‘ISXPay’ is one of these programs and allows merchants to take payments from all over the world.
‘Paydentity’ is another, which enforces secure measures, linking an identification to online payments. It is designed to uphold anti-money laundering and counter-terrorism financing laws.
The company is a principal member of Visa, MasterCard and AMEX, among others.
iSignthis’ share price currently sits at $0.80 a piece.