PF Paystack Launches in South Africa; Square Reports Revenue Increase: News Roundup

PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

Excluding its bitcoin revenue, Square reported total net revenue in the first quarter 2021 of $1.55 billion, up 44% year over year. Its transaction-based revenue was $960 million, an increase of 27% from last year. “Our ecosystem of products continued to support growth of larger sellers. In the first quarter, midmarket Seller GPV grew 43% year over year, more than 2x the growth of total Seller GPV. With our increase in sales and marketing investments, we see an opportunity to continue driving awareness of our broader ecosystem among larger sellers,” the company said in a letter to its shareholders. From Square.

Restaurant PF PAR Technology reported revenue of $54.5 million for the first quarter, down slightly from $54.7 million during the same period last year. “Our Q1 performance showed the strength and resiliency of our business and the continued aggressive investments in technology from our customers. In the quarter we saw significant demand for our cloud Brink POS® software and bookings in Q1 totaled 1,345 stores, which is an 85% increase from the Brink bookings in Q1 last year,” said Savneet Singh, PAR Technology CEO. From PAR Technology.

Cantaloupe, a PF that serves the unattended retail market, reported revenue of $42.8 million for its fiscal third quarter 2021, up 11.7% from the previous quarter and down 0.8% year over year. “We are pleased with our financial results for the third fiscal quarter, which improved sequentially as schools and other organizations across the country continue to re-open. During the quarter we also made great progress on our strategic initiatives by driving sustainable organic growth through deepening existing relationships and winning new customers,” said Sean Feeney, Cantaloupe CEO. From Cantaloupe, Inc.

PF Nuvei reported a revenue increase of 80% to $149.9 million for the first quarter. “We’re very pleased with our results for the first quarter with both continuing momentum in the core business and the acceleration of new client wins contributing to 132% total volume growth, 80% revenue growth and 97% Adjusted EBITDA growth over the first quarter of 2020,” said Philip Fayer, Nuvei chair and CEO. From Nuvei.

Nigerian PF Paystack, which was acquired by Stripe last fall, has launched in South Africa. Today, the company says it powers half of the online payments in Nigeria. It also operates in Ghana. The company preceded its official South African launch with a six-month pilot project. Paystack has enabled Stripe, which is expanding globally, to enter the African market. From TechCrunch.

PF PayU expects the gross merchandise value of transactions on its platform to triple to $100 billion over a three-year period. The company said that the pandemic and the rising popularity of ecommerce are driving significant growth. From The Hindu BusinessLine.