The iSignthis Ltd (ASX: ISX) share price could go bananas today after announcing its September 2019 gross processing turnover volume (GPTV) update.
iSignthis is listed on the ASX and Frankfurt Stock Exchange. It provides remote identity verification and payment authentication combined with e-money, transactional banking, IBAN issue and payment processing capability. Its products and businesses are iSignthis Paydentity, ISXPay, UAB Baltic Banking Service and Probanx Information Systems.
iSignthis September 2019 Update
iSignthis has revealed its September 2019 GPTV update to investors, it revealed that its actual annualised Europe and Australia Paydentity Ecosystem GPTV was $1.9 billion, up 360% from 30 June 2019.
This growth is in line with expectations as new business customers are brought onto the system. According to iSignthis, business customer group approvals were up 45% to 304 from the end of June.
The fintech company said there’s a growing pipeline of business customer applications.
Its merchant services fee (MSF) percent was consistent with the targeted 125 basis points (1.25%) ecosystem average which is important for its profitability.
The GPTV was under $200 million in February 2019, so it has clearly grown a lot this year. That’s why the iSignthis share price is up 526% so far this year to $0.94.
However, iSignthis was up even more to $1.65 earlier this month but there has been a cloud over the company recently after a report by Ownership Matters relating to performance rights and alleged lack of disclosure about its ownership.
But iSignthis has refuted these questions about it and it’s getting on with growing the elements of the business that it can such as the GPTV, which is growing exceptionally well.
Is The iSignthis Share Price A Buy?
I’m really not sure what a good price to pay for iSignthis is considering its early stage of growth, its high valuation and how fast it’s growing.
For me, it’s too hard to judge. But I wish the company and shareholders all the best. I find it easier to say that the growth shares in the free report are more understandable opportunities.
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