CEO’s of PayPal, Logiq, Peak Fintech, and Square Discuss Bitcoin, Fintech and New Growth Opportunities in Digital Wallets
NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: PayPal Holdings (NASDAQ: PYPL) Peak Fintech Group (OTC:PKKFF) (CSE: PKK) Logiq, Inc. (OTC: LGIQ), and Square (NYSE:SQ). The convergence of AI, Big Data, Smart Phones, and financial innovation is driving massive new growth opportunities in all aspects of financial services.Wall Street Reporter highlights the latest comments from industry thought leaders:PayPal Holdings (NASDAQ: PYPL) CEO Dan Schulman: “Rise of Digital Wallets Will Drive PayPal’s Growth”“...The digitization of the global economy combined with the rise of digital wallets will drive our growth over the next decade. Our scale, two-sided network, trusted brand, our strong relationships with the regulators around the world, and our AI and data modeling capabilities can all be leveraged to ensure our PayPal and Venmo apps are essential parts of our customers’ daily lives...This is beginning to play out in our strong Q3 results. In Q3, our total payment volume grew by a record 36% on an FX neutral basis to $247 billion in annual run rate, just shy of $1 trillion.”“Over the next year, both the Venmo and PayPal apps will undergo a fundamental transformation intended to dramatically increase their functionality and drive engagement...This expanded suite of services will include enhanced direct deposit and check cashing, budget and savings tools, bill pay, investment alternatives, including crypto, subscription management, buy now, pay later optionality and all of Honey’s shopping tools from wish list, price monitoring, deals, coupons, and rewards…We recently announced that PayPal will allow account holders to buy, sell and hold cryptocurrencies first, in the U.S. and then expanding to international markets in the Venmo platform in the first half of next year…We will rapidly move at the beginning of next year and allow consumers to use cryptocurrencies as a funding instrument to shop across all 28 million of our merchants. This solution will not involve any additional integrations, volatility risk or incremental transaction fees for either consumers or merchants and will fundamentally bolster the utility of cryptocurrencies…”PayPal Holdings, Inc. (NASDAQ:PYPL) Q3 2020 Earnings Highlights: https://bit.ly/3fsidCx Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph: “China Fintech Revenues Ready to Explode”NEXT SUPER STOCK conference presenter Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph, recently spoke with Wall Street Reporter’s investor audience about PKKFF fast growing China fintech business which connects small-medium business with commercial lending solutions. Joseph explained how Peak Fintech has already gained significant traction, generating over C$7.2 million revenue in Q 2020, and is now ready to start scaling revenues as it enters new markets in coming months. PKKFF’s recently announced partnerships open opportunities to reach thousands more new fintech customers.Watch PKKFF Next Super Stock (November 19) livestream video: https://bit.ly/3kV3bqkNovember 19 - PKKFF signs agreement with packaged foods wholesale distributor Beijing Jingying Corporate Management Ltd. ("BJM") to bring PKKFF’s Cubeler Lending Hub financing solution to BJM and its more than 250,000 retail clients. BJM is a major distributor of a variety of popular products from China Oil and Foodstuffs Corporation (COFCO), for which it has exclusive distribution rights to approximately 200,000 Petro-China convenience stores and on online retail giant JD.com. COFCO is China's largest food processor, manufacturer and commodities trader and one of the largest agribusiness groups in all of Asia.November 6 - PKKFF hires former People's Bank of China senior manager, Mr. Wenjun Wu, as a special advisor to assist the Company in various business development capacities and in preparing the Company's Cubeler Lending Hub platform for China's upcoming digital currency.October 20 - PKKFF signed an exclusive agreement with the parent company of national consumer electronics distributor Beijing Dianjing Company Ltd. ("BDC") to bring financing solutions to BDC's 60,000 online retail clients. BDC is a wholesale distributor of consumer electronics whose online retail clients sell laptops, smartphones and other consumer electronic products on China's top three e-commerce portals: Tmall, JD.com and Pinduoduo. BDC's clients, who collectively sell about $50B worth of consumer electronics per year, will be able to have up to 90% of the price of the products they purchase from BDC financed. Peak typically earns service fees ranging from 1% to 3% of the value of the credit amounts it helps facilitate, and this represents a total market opportunity of up to $1.35B in annual revenue potential.Watch PKKFF Next Super Stock (November 19) livestream video: https://bit.ly/3kV3bqkClick Here to Join Wall Street Reporter’s NEXT SUPER STOCK livestream December 2, 2020: https://bit.ly/2PX0SpH Logiq, Inc. (OTC: LGIQ) President, Brent Suen: “Southeast Asia Fintech/Ecomm with 10X Upside Potential”Logiq, Inc. (OTC: LGIQ), a regular presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream events, is rapidly growing it’s mobile e-commerce, and fintech business in Southeast Asia, with revenues accelerating to a $40 million run-rate.In a recent livestream event, LGIQ President Brent Suen discussed the company’s new partnership with Indonesia’s government agency which can potentially offer it’s fintech services to 48 million members. Brent also explained why LGIQ has compelling upside, based on valuation comparables to it’s peers in the e-commerce/fintech space. While LGIQ trades at about 2X revenues, it’s peers such as SHOP, SE, STNE, and JMIA, are often trading at 20-30X revenues.Watch (OTC: LGIQ) NEXT SUPER STOCK (November 18) livestream: https://bit.ly/3lYLhnUNovember 18 - LGIQ has launched its previously announced mobile fintech platform in Indonesia, in an exclusive strategic alliance with Indonesia’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Using the new fintech platform, KMSB will provide micro-lending services to Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), Indonesia’s social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.LGIQ and KMSB will jointly own and operate the new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program. The partners will then work together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings. The pilot program will provide mobile micro-lending and related services to 6,000 BPJSTK employees who will be able to borrow up to 20% of their annual salary.“Through this exclusive strategic alliance with KMSB, we have a tremendous opportunity to improve the lives of nearly 20% of the Indonesian population who normally do not have access to traditional financial services,” stated LGIQ president, Brent Suen. “The opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually…”Watch (OTC: LGIQ) NEXT SUPER STOCK (November 18) livestream: https://bit.ly/3lYLhnUClick Here to Join Wall Street Reporter’s NEXT SUPER STOCK livestream December 2, 2020: https://bit.ly/2PX0SpH Square (NYSE: SQ) CEO Jack Dorsey: “Scaling Business and Consumer Fintech Ecosystems”“...We have scaled not one but two ecosystems focused on expanding access to financial services for sellers and individuals…Let’s start with Seller. We’re focused on providing sellers with fast and flexible access to their funds, which has proven to be especially important this year. Square Card, our business debit card, which we launched last year, provides sellers with a way to immediately access and spend earned funds without setting up a bank account. Adoption of Square Card has increased each quarter since launch...We also work to provide employees easier access to funds. In the third quarter, we launched two new features for Square Payroll, Instant Payments and On-Demand Pay. Instant Payments allows Square Payroll merchants to pay employees using earned funds next business day with direct deposit or instantly when employees use Cash App. This strengthens the integration between our Seller and Cash App ecosystems, and it was a great example of what we can do when we connect the two ecosystems together…”“For Cash App, we’ve continued to find ways to make financial services more relatable and accessible for individuals. We’ve seen strong adoption across the Cash App ecosystem, including our stock brokerage product, which has seen the fastest adoption of any product to-date. Since launching it less than a year ago, more than 2.5 million customers have bought stocks using Cash App and billions of dollars have been traded by the end of the third quarter...This quarter we launched Auto-Invest, which allows for dollar-cost averaging from recurring daily or weekly purchase of Bitcoin or stocks.”Square (NYSE:SQ) Q3 2020 Earnings Highlights: https://bit.ly/2UCHP6s WALL STREET REPORTERWall Street Reporter (Est. 1843) is the leading financial news provider, focused on giving investors direct access to CEO's of promising, publicly-traded companies, and market experts. www.WallStreetReporter.comAbout Wall Street Reporter’s Next Super Stock conference:Wall Street Reporter's NEXT SUPER STOCK Live! conference is dedicated to featuring select companies that have near-term catalysts in place which can drive transformational growth (and stock appreciation) in the months ahead. Click here to join next livestream event: https://www.wallstreetreporter.com/next-superstock-online-investor-conference/CONTACT:WALL STREET REPORTER(212) 871-2057 ext 7www.WallStreetReporter.com
GlobeNewswire · 19h ago