Much to the delight of its shareholders, the iSignthis Ltd (ASX: ISX) share price continued its incredible run on Monday.
The neobank's shares surged over 13% higher this morning to hit a new all-time high of 67.5 cents.
This latest gain means the iSignthis share price has now rocketed an incredible 350% higher since the start of the year.
Why is the iSignthis share price on fire in 2019?
Earlier this month the company held its annual general meeting and released a presentation which appears to have caught the eye of investors.
The presentation revealed how successful the company's evolution into a wholesale neobank has been and how it offers something different thanks to 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.
Another positive that management shared with investors is the progress it has made with its card payment channel capability.
Management revealed that the company is moving towards finalising ChinaUnionPay, Amex, Diners and Discover technical integrations at present, which will give it a world class card payment channel capability that is more extensive that those on offer with Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), and the rest of the big four.
And perhaps the biggest positive of them all is that this small cap tech share is actually running a profitable operation.
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 in FY 2019.
All in all, this appears to have some in the market believing that iSignthis could be Australia's answer to U.S. giant Paypal and the next success story in the payments industry.
