The Company has experienced a rapid geographic diversification of its merchant base in 2020 when compared to 2019. In 2019, 27% of the Company's merchants were located outside of
Along with the international expansion, as a result of COVID-19 and shifting merchant and consumer demand, the Company has greatly diversified its target merchant industries. Before March, the Company's merchant base was heavily concentrated in Luxury, Travel, Tourism, and Retail. Over the past five months, the Company has successfully focused its business development efforts on growing its market share in the B2B, Services, and Gaming industries.
As a benefit of these dynamics
About
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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