TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Feb. 7, 2017 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to advise that it has entered into an agreement to provide business to business cross border payment services for China based eGTCP.com, which is owned and operated by the Great Tao E-Commerce Holdings Co. Ltd. ("eGTCP").
eGTCP is considered a mini Alibaba. It is a leading B2B e-Commerce Integrated Service Platform for Global Trade Supply Chain whose comprehensive product package is called "Gate to China". eGTCP is a business to business brokerage platform that connects vendors of a variety of goods across China to purchasers around the world.
2016 was a year of significant growth for eGTCP having established a base of more than 15,000 vendors.
"eGTCP is a key strategic partner for First Global. They are a fast moving company focused on extending their reach to business purchasers around the world. Our global reach, strategic partnership model and compliant international payments capabilities enables us to add value and drive new revenues from the B2B market segment. This is new frontier for First Global and we believe that the B2B market will generate significant revenues for the Company in the future", said Nayeem Alli, First Global's CFO.
"We are very pleased to be working with eGTCP. The Chinese market dominates the ecommerce landscape, the B2B market is large and growing, and this is a key next step in First Global's evolution. We had historically focused on the P2P and B2C market opportunities, and are very pleased to demonstrate that we are able to deliver services to the B2B markets around the world, as we continue to evolve into a full suite global FINTECH company", said Andre Itwaru, First Global's Chairman and CEO.
About Great Tao E-Commerce eGTCP.com
Zhejiang Great Tao E-Commerce Holdings Co., Ltd, ("Great Tao") established in 2015, located in the globally fourth largest port, Ningbo Port. The company is a driver in developing the integrity ecosystem for international trade, to enable trades to happen with more frequency, more safety, and more efficiently. The company has a high domestic and international reach in offering its trade services, with office locations in Ningbo, Hangzhou, Qingdao, Changsha and Hong Kong. Areas that it serve includes North America, Europe, EMEA, ASEAN countries, India and Australia. eGTCP.com is the B2B platform operated and developed by Great Tao, and is a leading Global Supply Chain B2B Electronic integrated service platform. The platform is based on establishing a "digital trust", and through its platform partners, to provide a full range of services, includes: order matching, credit reports, trade finance, risk management, export agency, logistics, credit protections, and other related trade services for its vendors and purchasers.
About First Global:
First Global is an international financial services technology ("FINTECH") company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ("P2P"), Business to Consumer ("B2C"), and Business to Business ("B2B") payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE First Global Data Limited
For further information: Andre Itwaru, Chairman and Chief Executive Officer, Telephone: 416.504.3813, Facsimile: 416.504.7092, Email: firstname.lastname@example.org