MONTREAL, July 11, 2018 (GLOBE NEWSWIRE) -- MOBI724 Global Solutions Inc. (“MOBI724”) (TSX-V: MOS ) (OTCQB:MOBIF), a Fintech leader offering all-in-one, fully integrated EMV payment, Card-Linked offers, Digital Marketing and Business Intelligence Solutions, is pleased to announce that its Asian subsidiary, MOBI724 Asia Inc., has signed a commercial agreement with the Philippines' branch of Fexco, an international fintech and payments company headquartered in Ireland.
Under the terms of the agreement, cash withdrawal transactions from Fexco’s EasyDebit MicroATM ("EasyDebit") terminals will be processed via MOBI724’s gateway and processing switch (Virtuo®) in over 450 locations across the Philippines.
Through this collaboration, Fexco and MOBI724 can offer more robust and scalable processing of cash out transactions further promoting financial inclusion across the country.
Ann Chan Foley, CEO of Fexco Philippines Inc., said, “Extending our partnerships with innovative and forward-thinking providers like MOBI724 helps us to reach even more underserviced ATM and debit card-holders across the Philippines.”
Marcel Vienneau, CEO of MOBI724, said, "MOBI724 is committed to expanding its EMV payment processing presence in the Philippines and Asia Pacific by adding partners such as Fexco. This agreement serves to solidify our base in the region. Our innovative solution enables full ATM functionality directly at POS, whereas in rural/remote areas in the country the cost of operating ATMs is too expensive, and customers sometimes have to travel long distances to get access to cash. MOBI724’s technology facilitates cash liquidity while promoting banking services. We are pleased to see that our technology is valued and implemented by globally reputable and well-established companies.”
About Fexco
Recognised as one of the world’s original and most established fintech players, Fexco employs over 2,300 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South West of Ireland. Founded in 1981, Fexco now has operations in 29 countries across Europe, the Middle East, Asia-Pacific, North America and Latin America.
Fexco serves some of the world’s biggest brands across multiple industries, predominantly in the payments and FX sectors, through a wide range of innovative products and services including; Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Tax Free Shopping and Retail FX. Fexco also offers bespoke Managed Business Solutions and Outsourcing services as well as a full suite of payment management solutions through its Corporate Payments business.
Since inception, Fexco has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more visit www.fexco.com
About EasyDebit
Fexco has developed a microATM card solution for merchants which allows merchants to offer cardholders cash out and balance inquiries. The EasyDebit solution acts as an additional revenue stream for merchants who earn a fee from each transaction. The solution is safe and secure, accredited to the highest security standards - PCI DSS and EMV Level 1 & 2 compliant. To find out more visit www.easydebitasia.com
For more information, contact: Fexco Philippines Inc. Richard Molloy, +63-917-71-22241, Richard.molloy@fexcoasia.com
About Mobi724 Global Solutions Inc.
“We enable smart transactions anywhere”
MOBI724, a global Fintech company, offers a fully integrated suite of multiple Payment Card-linked, Digital Marketing and Business Intelligence Solutions, which work with any payment card, on any mobile device and at any Point of Sale; and a mobile EMV compliant payment platform. MOBI724 provides turn-key solutions for card associations, card issuers, banks, retailers, manufacturers, offer providers, to create, manage, deliver and track and measure incentive campaigns worldwide in real time. The company captures value from big data to deliver seamless and personalized user experiences for the benefits of all parties in the ecosystem. MOBI724 headquarters are in Montreal, Canada, and the company presently has operations in North and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute a solicitation to buy or sell any securities in the United States.
For further information, please visit www.MOBI724.com or contact:
Investor Relations :
Mr. George Aizpurua, Vice-President, Communications First Canadian Capital Corp. T: 647-500-2389/416-742-5600; E: gaizpurua@firstcanadiancapital.com
Mr. Derek Lindsay MOBI724 Global Solutions Inc. Chief Financial Officer T: 514-394-5200; E: derek.lindsay@mobi724.com
