Adds Data Top-Up Technology to Meet Massive Mobile Data Traffic Demand
VANCOUVER, British Columbia, Dec. 28, 2016 (GLOBE NEWSWIRE) -- Mobetize Corp. (OTCQB:MPAY), a provider of mobile financial services (MFS) technology for the multi-billion dollar business to business (B2B) segment of the Fintech as a Service (FAAS) sector is pleased to announce it has delivered a solution to Tata Communications Canada Ltd. (“Tata”) for a pilot B2B Data Top-up/Gifting through its existing smartCharge API technology.
About smartCharge
smartCharge enables companies to allow their customers to top-up or gift air time to friends and family around the world through the Mobetize network of 350+ global carriers.
This new Data Top-up/Gifting service provides Mobetize customers with an aggregation solution to gift data globally across carrier networks. Mobetize currently offers this service in three countries, namely Honduras, Guatemala and El Salvador. We anticipate the completion of our carrier network expansion into North America by the end of Mobetize’s Q1 2017, and are now working to expand our carrier network globally.
Mobetize CEO, Ajay Hans stated that, “In response to market demand from our clients and projections that there will be 9 billion mobile subscriptions with 7.7 billion mobile data users by 2021 ( Ericsson Mobility Report-On the Pulse of the Networked Society June 2016 ), it’s clear that Mobetize should lead the charge for digitized data consumption and gifting.”
Data – Industry Statistics
Smart devices, demand for mobile video, the continued growth of 4G networks and an ever-increasing number of wireless users will drive an 800 percent increase in mobile data traffic over the next five years, according to Cisco's latest forecast.
In its most recent annual Visual Networking Index, the telecom gear vendor predicted there will be 5.5 billion mobile users by 2010, representing 70 percent of the worldwide population. Smart mobile devices and connections -- which Cisco defines as those "with advanced computing/multimedia capabilities and a minimum of 3G connectivity" -- will account for 72 percent of all mobile devices by 2020, according to Cisco, up from 36 percent in 2015 and are expected to drive 98 percent of mobile data traffic by that time.
Cisco predicts mobile data traffic will see a 53 percent compound annual growth rate through 2020.
Operators in the U.S. and other mature markets are already struggling to manage data traffic on their networks due largely to a sharp increase in mobile video usage. Those challenges will only increase over the next several years, forcing operators to develop innovative strategies and technologies to meet demand.
Source: http://www.fiercewireless.com/wireless/cisco-...in-5-years
About Mobetize Corp.
Mobetize Corp. (OTCQB:MPAY) has developed a global B2B Fintech as a Service (FaaS) Supermarket by digitizing bricks and mortar financial services to deliver mobile money services to leading telecommunications companies and financial institutions. Mobetize ensures end-to-end integration for services such as prepaid air-time top ups, data gifting, mobile lending, international money transfers, P2P transfers, Visa™/MasterCard™ programs and mobile bill payments. Mobetize seamlessly integrates and white labels its secure mobile money platform services for customers who then offer the services to millions of users. Mobetize experts help telecom and banking providers discover new revenues, new customer relationships and to navigate the emerging Fintech ecosystem. For more information, visit http://www.mobetize.com
Forward Looking Statements
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning Mobetize's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of Mobetize and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for Mobetize's products or in the supplier costs; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in Mobetize's previous filings with the Securities and Exchange Commission. Mobetize disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Investor Relations: 778-588-5563 info@mobetize.com
