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  • iSignthis has been a fast riser on the ASX this year, whose share price rose from 13¢ on October 9 2018, to nearly $2 per share
  • It reported a GPTV of $1.1 billion – which is up 160 per cent since the June report
  • iSignthis provides secure electronic money transfers and is focused on identify verification for theft and fraud prevention

iSignthis has reported a gross processed transaction value (GPTV) of $1.1 billion in August which is up 160 per cent from June 30.

The company has been a fast riser on the ASX this year, whose share price rose from 13¢ on October 9 2018, to nearly $2 per share.

iSignthis is part of the buy now, pay later industry. It is a leading eMoney, payments and identity technology company who provides secure electronic money transfers and is focused on identify verification for theft and fraud prevention.

GPTV is the volume of funds by iSignthis clients from which the company takes varying fees. Therefore the higher the GPTV, the higher iSignthis’ revenue is.

The company collects fees on every transaction or, from the underlying sales from merchants.

Industry competitor, Afterpay, also reported that its customer approvals went up 28 per cent in August compared to June.

Recently, the company signed a deal with a Visa subsidiary. This deal allows the company to process payments globally and make settlements on behalf of merchants who are Visa customers.

In July, the company reported a revenue jump of 240 per cent from the first quarter of 2019. This translates as $1.85 million to $6.3 million.

iSignthis said it will provide a further GPTV update in the Q3 2019 quarterly report.

iSignthis is up 14.38 per cent on the ASX today and is currently selling shares for $1.57 apiece at 1:39 pm AEST.

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