SEGMENT INFORMATION

6 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 14 – SEGMENT INFORMATION

General information

The segment and geographic information provided in the table below is being reported consistent with the Company's method of internal reporting. Operating segments are defined as components of an enterprise for which separate financial information is available and which is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The CODM regularly reviews net revenue and gross profit by geographic regions. The Company's products and services operate in two reportable segments; identity management and payment processing.

Information about revenue, profit/loss and assets

The CODM evaluates performance and allocates resources based on net revenue and operating results of the geographic region as the current operations of each geography are either primarily identity management or payment processing. Identity management revenue is generated in North America and Africa and payment processing revenue is earned in South America which are the three geographic regions of the Company. We have included the lease income in payment processing as the leases are related to unattended ticketing kiosks.

Long lived assets are in North America, South America and Africa. Most assets are intangible assets recorded from the acquisition of MultiPay (South America) in 2015 and FIN Holdings (North America and Africa) in 2016. Assets for North America, South America and Africa amounted to approximately $8.9 million, $0.3 million and $0.3 million.

Analysis of revenue by segment and geographic region and reconciliation to consolidated revenue, gross profit, and net loss are provided below. The Company has included in the schedule below an allocation of corporate overhead based on management's estimate of resource requirements.

(unaudited)
	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2020			2019			2020			2019
Net Revenues:
North America	$	135,698		$	146,583		$	269,252		$	373,624
South America		72,133			120,613			185,757			245,941
Africa		113,288			377,765			659,899			765,774
		321,119			644,961			1,114,908			1,385,339
Identity Management		248,986			524,348			929,151			1,139,398
Payment Processing		72,133			120,613			185,757			245,941
		321,119			644,961			1,114,908			1,385,339
Loss From Operations
North America		(670,183	)		(681,690	)		(1,076,575	)		(1,419,652	)
South America		(1,803,784	)		(1,220,869	)		(3,015,936	)		(2,477,821	)
Africa		(332,654	)		(181,979	)		(1,386,718	)		(355,439	)
		(2,806,621	)		(2,084,538	)		(5,479,229	)		(4,252,912	)
Identity Management		(1,002,837	)		(863,669	)		(2,463,293	)		(1,775,091	)
Payment Processing		(1,803,784	)		(1,220,869	)		(3,015,936	)		(2,477,821	)
		(2,806,621	)		(2,084,538	)		(5,479,229	)		(4,252,912	)
Interest Expense		(310,153	)		(93,260	)		(489,203	)		(180,150	)
Other income/(expense)		(342,082	)		6,271			(1,317,971	)		12,497
Loss before income taxes		(3,458,856	)		(2,171,527	)		(7,286,403	)		(4,420,565	)
Income tax expense		(3,592	)		(4,264	)		(12,466	)		(17,965	)
Net loss	$	(3,462,448	)	$	(2,175,791	)	$	(7,298,869	)	$	(4,438,530	)

NOTE 15 – SEGMENT INFORMATION

General information

The segment and geographic information provided in the table below is being reported consistent with the Company's method of internal reporting. Operating segments are defined as components of an enterprise for which separate financial information is available and which is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The CODM regularly reviews net revenue and gross profit by geographic regions. The Company products and services operate in two reportable segments; identity management and payment processing.

Information about revenue, profit/loss and assets

The CODM evaluates performance and allocates resources based on net revenue and operating results of the geographic region as the current operations of each geography are either primarily identity management or payment processing. Identity management revenue is generated in North America and Africa and payment processing is earned in South America which are the three geographic regions of the Company. We have included the lease income in payment processing are the leases are related to unattended ticking kiosks.

Long lived assets are in North America, South America and Africa. Most assets are intangible assets recorded from the acquisition of MultiPay (South America) in 2015 and FIN Holdings (North America and Africa) in 2016. Assets for North America, South America and Africa amounted to approximately $9.1 million, $0.4 million and $1.4 million, respectively, of which $4.2 million, $0.0 million and $1.2 million related to goodwill as of December 31, 2019.

Analysis of revenue by segment and geographic region and reconciliation to consolidated revenue, gross profit, and net loss are provided below. The Company has included in the schedule below an allocation of corporate overhead based on management's estimate of resource requirements.

	Year Ended December 31,
	2019			2018
Net Revenues:
North America	$	642,313		$	1,941,866
South America		455,475			476,234
Africa		1,454,257			1,410,893
		2,552,045			3,828,993
Identity Management		2,096,570			3,352,759
Payment Processing		455,475			476,234
		2,552,045			3,828,993
Loss From Operations
North America		(3,536,664	)		(1,959,125	)
South America		(5,186,550	)		(6,540,029	)
Africa		(1,362,535	)		(824,065	)
		(10,085,749	)		(9,323,219	)
Identity Management		(4,899,199	)		(2,783,190	)
Payment Processing		(5,186,550	)		(6,540,029	)
		(10,085,749	)		(9,323,219	)
Interest Expense		(375,598	)		(757,801	)
Other income/(expense)		23,920			83,649
Loss before income taxes		(10,437,427	)		(9,997,371	)
Income tax expense		(62,931	)		(30,242	)
Net loss	$	(10,500,358	)	$	(10,027,613	)