Today in PYMNTS’ data, venture capital (VC) funding is backing digital currency operations, bitcoin is edging up on record highs, identity (ID) verification solutions providers are helping merchants verify customers’ ideas, small- and medium-sized businesses (SMBs) are reporting they trust their payment providers and banking infrastructure and small community banks are enjoying the benefits of Same Day ACH credit transactions.
Here are the numbers:
$42.5 million | Amount of VC Series B funding announced by U.S.-based BitGo this week. The company provides businesses with a way to use digital currencies without running afoul of regulations. The funding, which was led by Valor Equity Partners and DRW, will be used to focus on growth outside the U.S. The firm’s CEO, Mike Belshe, said the VC round was “one of the easiest fundraising processes ever.” The commentary reflects the surging value of cryptocurrencies and how eager investors are to take part in the industry.
$17,428.42 | Value of a single bitcoin at the end of trading on Tuesday (Dec. 12). Just two days after the first bitcoin futures launched on the U.S. stock exchange, the digital currency was recorded at this price on the Luxembourg-based bitcoin exchange, Bitstamp. Bitcoin’s record highs represent a 20-fold increase in value for the year. Chicago-based derivatives exchange Cboe Global Markets launched its bitcoin futures on Sunday, and CME Group is expected to launch its own on Dec. 17.
250 | The number of countries’ government-issued IDs that identity verification solutions provider Jumio’s technology can currently verify, including multiple generations of IDs from all 50 U.S. states. The company knows exactly what these documents should look like — from security characteristics and items encoded to how the photo should be held in place — thus helping to make verifying a purchaser a seamless process both online and in-store.
59 percent | Percentage of SMBs polled in a Visa U.K. survey last year that reported they trust their banks as payment providers, compared to 40 percent that trust their alternative online payment providers. The data speaks to small businesses’ trust in the banking infrastructure, even if they’re dissatisfied with the services they receive from traditional financial institutions (FIs).
14 | The number of months that have passed since the first phase of Same Day ACH credits debuted. Data from a joint study by PYMNTS and NACHA showed that business origination of Same Day ACH credit has been significant, with clear trends in place that reveal healthy use and demand. In fact, 43 percent of 125 surveyed U.S.-based FIs offer same-day credits, according to Mike Herd, senior vice president at NACHA. The survey was primarily administered to small community banks and credit unions, making the finding significant.