TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Dec. 29, 2016 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to announce that it's Indian subsidiary MSEWA Software Solution Private Limited ("MSEWA") has entered into an agreement with Metro Infrasys Pvt Ltd. ("Metro Infrasys") to provide the mobile payment feature to Metro Intrasys' "Highway Saathi™" mobile payment app.
Highway Saathi™ is an integrated platform for multi-bank, multi-wallet transactions for toll tag recharge which ensures a smooth and hassle-free travel experience for highway travelers. The application has a built-in feature which facilitates toll tag recharge through the click of a button. So now travelers don't have to wait in long queues at the toll plazas for their turn to pay.
Highway Saathi™ provides real-time information about :
- Highway incidents and congestion hotspots, with reporting facilities.
- Restricted speed limits.
- Wayside amenities like food courts, hospitals, toll plazas, gas stations etc.
- Highway conditions, with reporting facility.
- Estimated journey time with directions to destination of choice.
- Emergency services and SOS alerts.
- Free vehicle tracking services for fleet owners.
- Voice-based option for all reporting facilities. Customers speak their query into the phone and the app answers the question, be it the location of the nearest restaurant or gas station.
Highway Saathi™ is launched and available for download at the Google Play store. It is currently being rolled out in 50 toll stations across India through which millions of automobiles traverse annually.
Highway Saathi will have VPayQwik™ as a mobile payment option in the app. VPayQwikTM is a mobile payment service which the Company previously launched with Vijaya Bank (the "Bank"). The Company makes revenues from each automobile using the app for payment at the toll stations, and shares revenues with Metro Infrasys and Vijaya Bank.
Andre Itwaru, Chairman and CEO of First Global comments, "There are so many verticals where mobile payments is apropos and toll fee transactions are just another example of how First Global is innovating and revolutionizing the digital divide as it relates to FinTech. We will continue to tap into other verticals to take full advantage of the consumer sentiment shift to all things digital."
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]