Ryvyl Inc. (NASDAQ:RVYL) Q3 2023 Earnings Call Transcript

Min Wei: So Kevin, I’ll answer the question. This is Min. Great question again. There are really probably 2, 3 parts of the question, right? First of all, we continue to work very closely with our partner on the island, the Territorial Bank of America Samoa, [indiscernible] will provide great services to the merchants on the island. At the moment, we are going through further planning with them. There are a couple of major developments. One of them is we introduced the mPOS solution. I think this is actually a very ideal solution for the island, for the business and the users on the island because it does provide a very slick way for us to make the conversion from the conventional power solution to something that’s very easy, less restrictions quite quickly, right?

So that’s point number one. Point number two is, as we previously mentioned, American Samoa Island, it’s a very contained environment to allow us to test coyni. And we’ve been working very closely with our partner on the island. As a matter of fact, we presented the proposal for their 2024 plan to vote it out, right? So that, obviously, will go through the required government approval, and we are very optimistic that we’ll move ahead in the new year. That’s really going to transform the payments experience on the island. Hopefully, those 2 parts together will help answer the question, right? And the conventional way of processing is plateauing a little bit because there are better ways to do it, and we have a plan to do it together with our partner there.

Kevin Dede: Okay. One little hole for me I didn’t quite understand. $861 million total processing, $517 million in the U.S. and $171 million in Europe, but there just seems to be a gap between those 2 figures and the $861 million. What am I missing?

Min Wei: Yes. So Kevin, it’s actually the reverse. It’s $500-plus million out of European markets and $171 million for the North America acquiring business, $42 million for ChargeSavvy and about $30 million for American Samoa. And then, yes, there are probably a couple of other pieces, but those are the major pieces in the equation as I went over in my session, okay?

Ben Errez: Sara, go ahead.

Operator: Showing no further questions. I’d like to turn the conference back over to Ben Errez for any closing remarks.

Ben Errez: Okay. Thank you all for submitting questions and your interest in RYVYL. So Sara, back to you, and you can close the session.

Operator: Thank you. This concludes today’s conference call. You may now disconnect.