{"id":4868,"date":"2020-05-06T16:32:15","date_gmt":"2020-05-06T16:32:15","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4868"},"modified":"2022-08-09T11:28:38","modified_gmt":"2022-08-09T17:28:38","slug":"square-shopify-report-strong-first-quarter-pf-flutterwave-launches-storefront-platform-news-roundup","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/square-shopify-report-strong-first-quarter-pf-flutterwave-launches-storefront-platform-news-roundup\/","title":{"rendered":"Square, Shopify Report Strong First Quarter; PF Flutterwave Launches Storefront Platform: News Roundup"},"content":{"rendered":"\n

PaymentFacilitator\u2019s News Roundup is a curated mix of the\npast week\u2019s news and articles from around the web, including company announcements,\nglobal payments news, and other coverage and analysis of topics relevant to\npayment facilitators.<\/strong><\/p>\n\n\n\n

PF Quarterly Earnings<\/strong><\/h4>\n\n\n\n

Square reported 44% growth in revenue year over year. <\/strong>The company said it earned total net revenue of $1.38 billion during the first quarter. It processed $25.7 billion in gross payments volume, up 14% from the same quarter last year. \u201cWe are focused on supporting our customers with information and resources; adapting our products to changing commerce experiences; and helping our customers access government stimulus programs. While the macroeconomic environment remains uncertain, we believe our long-term strategy of building a diverse ecosystem of products, customers, and use cases adds resilience to our company,\u201d the company said in its letter to shareholders. <\/em>From Square<\/a>. <\/p>\n\n\n\n

Blackbaud announced its first quarter results.<\/strong> The company reported total GAAP revenue for the quarter of $223.6 million, up 3.6% from the previous year. GAAP recurring revenue represented 91.6% of the total and was up 3.4%. “Our recurring revenue model and strong balance sheet remain stabilizing factors as we navigate the wide array of potential outcomes that could result from COVID-19, and we will continue to implement the necessary near-term measures to make certain Blackbaud remains in a strong position longer-term on behalf of all of our stakeholders,” said Tony Boor, executive vice president and CFO, Blackbaud. <\/em>From Blackbaud.<\/p>\n\n\n\n

The shift of commerce to online sales drove significant growth for Shopify in the first quarter.<\/strong> The company reported that new stores on its platform grew 62% between March 13 and April 24. Its gross payments volume grew to $7.3 billion, up from $4.9 billion for the first quarter last year. “The spread of COVID-19 is going to be a tough time for all entrepreneurs. We are working as fast as we can to support our merchants by re-tooling our products to help them adapt to this new reality. Our goal is that, because Shopify exists, more entrepreneurs and small businesses will get through this.” said Tobi L\u00fctke, Shopify CEO. <\/em>From Shopify<\/a>.<\/p>\n\n\n\n

Total revenue for RealPage in the first quarter was up 18%. <\/strong>The company reported GAAP total revenue of $276.7 million. Its net income was down by 50% to $5.6 million. \u201cWhile our range of financial expectations for 2020 includes anticipated headwinds related to lower leasing velocity and delayed new client projects, we remain focused on leading the industry through the storm, including rapidly delivering innovative solutions to optimize rental housing operations such as those that facilitate virtual leasing, living and payments,\u201d said Steve Winn, RealPage chairman and CEO. <\/em>From RealPage<\/a>. <\/p>\n\n\n\n

Brand Evolution<\/strong><\/h4>\n\n\n\n

Fintech company and PF Flutterwave has launched what it\nhas dubbed Flutterwave Store<\/strong> \u2013 a platform for African merchants to create online\nstorefronts. The company is offering the stores for free for now, charging only\na payment processing fee. Flutterwave says it has no plans to become an online\nretailer and will continue to focus on providing payments infrastructure. From TechCrunch<\/a>.  <\/p>\n\n\n\n

Classplus raises $9 million for its education platform.<\/strong>\nThe India-based company enables local teachers and coaching centers to deliver\nclasses and accept payment from students online. Classplus describes its\nservice as a \u201cShopify for coaching center.\u201d From TechCrunch<\/a>.<\/p>\n\n\n\n

SCA Delay<\/strong><\/h4>\n\n\n\n

The U.K.\u2019s Financial Conduct Authority has pushed back\nthe deadline to implement strong customer authentication (SCA) for ecommerce. <\/strong>The\nregulatory body said that it would give the payments industry another six\nmonths to comply with the new rules, which are intended to improve payments\nsecurity and reduce fraud. The agency delayed the implementation to avoid\ndisruption to consumers and merchants during the coronavirus crisis, it said.\nFrom Financial\nConduct Authority<\/a>.<\/p>\n\n\n\n

Industry news<\/strong><\/h4>\n\n\n\n

PPRO: PPRO\nLaunches Leading Japanese Payment Methods, Propels APAC Expansion<\/a><\/p>\n\n\n\n

RunSignup: RunSignup\nReleases Stage 1 of Virtual Challenge Events<\/a><\/p>\n\n\n\n

Identiq: Identiq\nSummit Brings Together Global Brands for the First Time to Advance Customer\nPrivacy, Safety and Trust Challenges<\/a><\/p>\n\n\n\n

Paysafe: COVID-19\nServes as eCommerce Catalyst for North American Consumers <\/p>\n\n\n\n

Mastercard: Mastercard\nStudy Shows Consumers Globally Make the Move to Contactless Payments for\nEveryday Purchases, Seeking Touch-Free Payment Experiences<\/a><\/p>\n\n\n\n

Mindbody: Men\u2019s\nHealth, Women\u2019s Health and Mindbody Announce \u201cRelay for Relief\u201d<\/a><\/p>\n\n\n\n

Fiserv: Accel\nIncreases PINless Transaction Approval Limits to Provide Consumers Additional\nTouch-Free Purchasing Opportunities<\/p>\n\n\n\n

Blackbaud: Blackbaud’s\nJustGiving\u00ae Powers World’s Largest Fundraiser By An Individual On An Online\nCrowdfunding Platform<\/p>\n\n\n\n

Paya: Healthfully\nand Paya Deliver Expanded Patient Care and Integrated Payments through New\nPartnership<\/a> <\/p>\n\n\n\n

SafeCharge: SafeCharge,\na Nuvei Company, Launches Cartes Bancaires Offering, Expands Local Acquiring\ninto France<\/p>\n\n\n\n

Wirecard: Wirecard\nHelps Food Service Restaurants and Merchants Strengthen Their Businesses with Digital\nServices<\/p>\n\n\n\n

Fiserv: STAR\nIncreases PINless Transaction Approval Limits to Provide Consumers Additional\nTouch-Free Purchasing Opportunities <\/p>\n\n\n\n

Payroc: Payroc\nAnnounces New Software Development Kit for Integrated Payments in Mobile Apps<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PaymentFacilitator\u2019s News Roundup is a curated mix of the past week\u2019s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[103,196,246,643,740,793,828],"class_list":["post-4868","post","type-post","status-publish","format-standard","hentry","category-archive","tag-blackbaud","tag-covid-19","tag-earnings","tag-payment-facilitator","tag-realpage","tag-shopify","tag-square"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4868"}],"version-history":[{"count":8,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4868\/revisions"}],"predecessor-version":[{"id":8841,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4868\/revisions\/8841"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}