According to U.S. based market research and business intelligence company, Crystal Market Research, the Mobile Point of Sale Market (mPOS) was worth USD $9.73 billion in 2014 and is expected to reach approximately USD $46.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 18.92% during the forecast period. mPOS devices are expected to drive an increased usage of payment cards in Global markets, such as China, India and so forth. The global POS terminals/systems market is highly fragmented across vertical markets while a POS terminal itself enhances the shopping experience for customers by minimizing the payment processing time and provides companies with information pertaining to the sales of their respective products. Active tech companies in the markets this week include Gopher Protocol Inc. (OTC:GOPH), Verifone Systems, Inc. (NYSE:PAY), PayPal Holdings, Inc. (NASDAQ:PYPL), Square (NYSE:SQ), NCR Corporation (NYSE:NCR),
Gopher Protocol Inc. (OTCQB:GOPH) BREAKING NEWS: Gopher Protocol, a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, is pleased to announce that its recent acquisitions, which now comprise its fintech division, led by ECS, have been fully integrated. ECS, since the beginning of 2018 (cumulative through last week) did 2,274,195 transactions from 21,729 terminals of which 1,399,975 were billable amounting to gross revenue of $24,863,692 (unaudited).
Looking at the comparable 90 day period in 2017, ECS Prepaid had $7.5 million(unaudited) in revenue while processing 813,000 transactions over an average of 5,300 locations. ECS Prepaid’s revenue for the 90 days just prior to being acquired by Gopher was $8.5 million (unaudited) while processing 859,400 transactions. For the 90 day period post acquisition by Gopher, ECS Prepaid’s revenue was $13.3 million(unaudited) while processing over 1.1 million transactions, resulting in an increase in revenue of 77% over the comparable period in 2017. Gopher intends to continue this pattern with recent agreements for processing alignments, the addition of AT&T SIM Activation program, and increased product margins on existing core products.
“ECS Prepaid would be able to operate the ‘UGO doors’ with little impact to our current work flow with the addition of one new employee in the Springfield’s office for technical support” said Derron Winfrey, Gopher’s COO. “The UGO platform, which used third parties for processing transactions, will now use the ECS platform reducing ACH transaction costs from $0.14 to $0.02, which is expected to increase our profit margins” added Kevin Pickard, Gopher’s CFO. Read this and more news for GOPH athttp://www.marketnewsupdates.