TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Jan. 24, 2017 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to announce that more than 400 movie cinemas and food courts across India will be accepting the VPayQwik™ mobile app as a payment method.
The many millions of customers who frequent these movie cinemas and food courts on a regular basis will be able to scan a QR code to make payment for movie tickets and food. The service has already been successfully rolled out in select cinemas and the Company is working to complete its full roll out.
Mr. Pankaj Kumar, CEO of the Company's India subsidiary, MSEWA Software Solution Private Limited ("MSEWA") said, "according to Wikipedia, Indian cinemas produced 1,969 feature films in 2014. The number of admissions in 2013 was 1,978,000,000 and gross box office receipts in 2015 was $1.6 billion. This is an unparalleled opportunity to mobilize payments in the Indian cinema entertainment value chain."
"We are very excited about this cinema roll-out as it provides us with a monstrous Indian footprint and is an enabler for massive user outreach in the tens of millions to drive revenues while providing customers with more options to use VPayQwik™" said Andre Itwaru, Chairman and CEO of First Global.
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, money transfers, shopping and peer to peer 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: [email protected]