MONTREAL, April 27, 2012 /CNW Telbec/ - Freeport Capital Inc., (the "Corporation" or "Freeport"), (CNSX: FAS) is pleased to announce that the company has opened an expansion office in the Makati Financial District of the Philippines establishing a local presence to meet demands and requirements of Financial Institutions, Payment Acquirers and Processors in the Country a direct benefit for local Merchants.
About the Philippines - Population 98,387,000 , the Philippines ranks 14th in the World in number of Mobile Phone users with over 86,000,000 in use.
Demographic and economic indicators
|Real GDP Growth (% growth)||4.2||1.1||7.6||4.5||3.8|
|Inflation (% growth)||9.3||3.2||3.8||4.4||4.1|
|GDP Measured at Purchasing Power Parity (international $ million)||331,170.1||338,512.9||368,542.0||388,769.2||412,053.0|
|Consumer Expenditure (US$ million)||128,251.3||124,346.1||141,079.2||162,947.0||170,707.8|
|Annual Gross Income (US$ million)||139,745.1||135,222.6||154,070.1||178,069.3||187,089.2|
Company President Mr. Michele Tasillo stated "We are very excited about this expansion into the Philippines which will be led by Mr. Gary Repchuk our VP of Foreign Business Operations as it allows the company to have a local presence engaging with Payment Acquirers and Processors providing Credit and Pin Debit processing and settlement. The Philippines is enjoying a vibrant demand for Mobile Payment Solutions with a significant demand for Telco's, Transit and Delivery Services. The direct benefit that will be offered by Hybrid Pay Tech Asia responds to the demands of Merchants needing an affordable consumer enabled Smartphone and Tablet payment solution utilizing popular OS's (Windows Mobile 7, IOS, BlackBerry and Android). Our solutions directly respond to merchants needs with traditional Point of Sale Terminals which are too costly, too expensive to maintain and which are limited in scalability and are not EMV L1 L2 compliant.
Mr. Ray Serion a payment industry specialist with over 15 years of experience in Asia - as Director of Hybrid Paytech Asia he states "this expansion will allow us to broaden our Global deployment and service capacity which will directly best fulfill demand from our Fleet, Transport, Logistics and Global Retail Franchise customers requiring an Enterprise Ready Platform. We anticipate operations beginning in 3rd quarter of this year as partnerships and distribution negotiations are already underway which require the company to have a local presence."
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX: FAS) develops an Enterprise Ready Mobile Payment Platform for the leading OS's (IOS, Android, BB and Windows 7). The Corporations holding First Equity Strategy LLC markets itself with the DBA : HybridPay Tech. Visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be
The Canadian National Stock Exchange (CNSX) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United States
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