The iSignthis Ltd (ASX: ISX) share price has been an impressive performer once again on Friday.
In afternoon trade the neobank's shares are up 21% to an all-time high of 54 cents.
This latest gain means the iSignthis share price has risen a staggering 260% since the start of the year.
Why is the iSignthis share price charging higher today?
This morning the company held its annual general meeting in Melbourne and released its presentation ahead of the event.
Within the presentation the company reminded investors of all the progress it has made so far this year. This includes its evolution into a wholesale neobank, differentiated by its unique digital identity and banking services for regulated businesses and financial institutions in Australia and Europe.
It also pointed out that it is the only neobank offering payments, eMoney deposit taking, and identity verification across multiple jurisdictions.
It has also made a lot of progress with its card payment channel capability. According to the presentation, the company is moving towards finalising ChinaUnionPay, Amex, Diners and Discover technical integrations at present.
This will give the company a "world class card payment channel capability, that boasts not only being more extensive than Australia's Big 4 banks, but is comparable to card payment channel capability offered by the world's largest banks."
Another positive is that management reiterated its earnings guidance for FY 2019. After recently achieving a break even position on a weekly cash run rate basis, the company is now targeting earnings before interest and tax of $10.7 million this year.
This appears to have the market excited that iSignthis could be another Afterpay Touch Group Ltd (ASX: APT) or Zip Co Ltd (ASX: Z1P) success story in the payments space or perhaps even Australia's answer to U.S. giant Paypal.
