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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, April 19, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that it has partnered with LianLian Pay to launch a Social Messaging Payments and Remittance service to over 100 million users and merchant partners.
First Global has partnered with LianLian Pay to launch a co-branded remittance service that enables Chinese living in the USA and Canada to make person to person international money transfers to China utilizing the social media messaging platform WeChat.
A Push/Pull marketing program will be used whereby LianLian will promote the service to its approximately 100 million plus registered users and its merchant partners.Lianlian will also roll out a full-on marketing campaign among more than 1000 outplacement employment agencies to inform targeted immigrants of the value of the service.
"This partnership took a lot of time and effort to construct. The resulting innovative and disruptive remittance product speaks for itself. This co-branded social messaging payments/remittance service is a vivid example of the adaptability and relevance of our FINTECH technology. This collaboration changes the game for First Global in that the penetration of such a large user base with a clear and distinct monetization strategy will create an exponential transactional, recurring revenue pathway", said Andre Itwaru, First Global's Chairman and CEO.
"People talk about FINTECH nowadays like they have to stay informed and relevant. We take a step further to contemplate how it improves livelihood and creates value. You don't have to be personally in China to sense the ubiquity of a social messaging platform's penetration. With big enough market demand and Lianlian's proven capability in China, we look to deliver a superior user-oriented product that defines game-changing industry disruption", said Ken Zheng, COO and Head of Global Strategy and Business Development of Cross Border Payments at LianLian Pay.
About Lianlian: (www.lianlianpay.com)
Lianlian Pay is the fourth largest non-banking third-party payment service provider in China, with transaction volume exceeding $50 Billion in 2016. Fast-growing, innovation-oriented and highly-adaptive, Lianlian Pay, as one of the top licensed mobile payment companies in China, has been priding itself in focusing on and excelling at providing all-in-one payment solution in the form of CUP cards mobile payment, cross-border payment and settlement, RMB and foreign currency disbursement, and international remittance services etc. for tens of millions of individual customers and thousands of merchants and partners.
About First Global: (www.firstglobaldata.com)
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 Inc. ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE First Global Data Limited
For further information: Andre Itwaru, Chairman and Chief Executive Officer, t: (416) 504-3813, e: [email protected]