TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Jan. 4, 2017 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to provide the following corporate performance update.
Since the beginning of the third quarter 2016, the Company has experienced an average of 18% growth week-over-week in its international payments business, representing an overall growth in transaction volumes of 2,869%
Since the September 20, 2016 launch of its mobile payment service in India, the Company has experienced an average of 22% week-over-week growth in number of new customers and an average of 20% week-over-week growth in transaction volumes, with customers performing an average of 3 transactions each.
"These are extremely promising statistics especially when you consider the Indian toll stations accepting VPayQwik™ and the Hidase Telecom initiative in Ethiopia are not yet contributing factors. FINTECH is the future and our mandate is future forward. The focus for 2017 is to continue deploying on numerous geographic segments with large enterprise partners, penetrating their respective embedded customer bases and monetizing these clients. We look forward to an exponential year of growth in 2017.", said Andre Itwaru, the Company's Chairman and CEO.
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]