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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, May 29, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that it has signed an agreement with Mansoor Brothers Enterprises Inc. ("MBE") for services which enhance the Company's North American mobile wallet offering and is another key step toward the Company's North American service launch.
MBE will push its existing member base across to the First Global Payqwik mobile wallet providing the Company with immediate mobile user traction in Canada. Users in Canada will receive discounts when they purchase telephone and internet services, international money remittance, entertainment, personal tax returns, drug benefits, movies at Cineplex, Esso gasoline, auto and home insurance, and more using the Payqwik app.
MBE has 24,000 POS devices in Canada and 32,000 in the USA. In addition, MBE has 5,000 ATM's in Canada and 1,000 in the USA. First Global will use this MBE distribution network for loading and cash-out for its mobile wallet.
"By Integrating the First Global Wallet onto our ATM and POS Networks in Canada and the US, it will enable First Global to provide a fluid and FINTECH focused Cross Border Wallet deployment", said Mr. Naqvi, President and CEO of MBE.
"MBE has a strong member base and extensive reach across North America. Partnering with MBE provides First Global with immediate user penetration for its Canadian launch, an ecosystem with value added services for our mobile wallet clients, and a path for rapid monetization as we launch services in Canada.", said Nayeem Alli, Chief Financial Officer of First Global.
MBE is an independent, Canada based business solutions and services providing group that is envisioned to lead the industry through trend-setting innovation and ground-breaking ideas. Since its inception, MB Enterprise's business profile has diversified into IT services, Real Estate, Insurance, Mortgage, POS, ATM, Accounting & Credit Counselling. Our utmost and highest commitment has stayed to offer exemplary support to our existing and potential customers and to ensure that our clients enjoy an experience that is above par.
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