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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, June 22, 2017 /CNW/ - First Global Data ("First
Global" or the "Company") is pleased to advise that pursuant to its
press release dated February 1, 2017.
it has concluded the definitive agreement to deploy mobile payment
services across Bangladesh with
strategic partner Aamra Payment Solutions, a division of Aamra
Group ("Aamra").
First Global will white label its mobile wallet technology and
launch services jointly with Aamra in Bangladesh under the Aamra Pay brand. Aamra
has access to more than 5 million users in Bangladesh. First Global will also originate
remittance transactions to Bangladesh and deliver funds to beneficiaries
in Bangladesh via the mobile
wallet.
Aamra will integrate the Aamra Pay app into the mobile handsets
(WE Mobile) they manufacture and distribute in Bangladesh. Their 14,000+ POS locations will
be integrated into the mobile wallet to leverage a new way of
payment and will be used for Cash-In and Cash-Out.
Aamra currently holds a market share of 75 per cent of the POS
market and Aamra solutions are preferred by 14 of the 17 leading
banks and financial institutions in Bangladesh.
Some of the services and capabilities of the Aamra Pay mobile
wallet, provided by First Global include:
- Registration, Login/out, Forgot Password, Receipts
- Payment Gateway Credential
- Top Up for both prepaid and postpaid
- Fund transfer P2P
- Redeem Coupon
- Mobile PIN
- Cash In at branches
- Cash Out at ATM machines
- Merchant Payment Web & App
- QR Code and QR Pay
- MPOS
- Online Payment Gateway
- Integrated Analytics
According to Wikipedia, "Remittance has become a major
contributor to the Bangladeshi economy. As the emigrant workers
from Bangladesh gradually
increased over the years, the amount of annual remittance to the
country significantly rose. According to World Bank, Bangladesh is now one of the largest
recipients of remittance with almost $15
billion as of June 2015."
"We are very pleased to have concluded the definitive agreement
with Aamra and are shifting to deployment mode. Aamra is an
excellent partner and are as motivated as First Global to provide
our leading edge mobile payment and cross border payment services
to the Bangladesh market",
commented Andre Itwaru, Chairman and
CEO of First Global.
About Aamra: (www.aamratechnologies.com/)
Aamra is a pioneering technology company that has been dedicated
towards providing the banking market with the most advanced and
revolutionary hardware, software and connectivity solutions for
close to three decades. The synonym of excellence, Aamra is trusted
by all the leading local and foreign banks for its exemplary
service that is always on the rise owing to its highly talented and
empowered human resources. Aamra has throughout the years continued
to provide comprehensive IT solutions and services that include
Systems Integration, Information System Outsourcing, Core Banking
Software, Switching and Network and Solutions, supply,
implementation and maintenance. As a major player in the IT sector
of Bangladesh, Aamra has developed
its business model over the time through carefully analyzing the
emerging market trends of the Asia-Pacific region. The company is investing
in capacity and technology that will lead to sustainable, long-term
growth and profitability based on the value offered to clients.
Aamra's core focus is to consistently introduce the latest products
while maintaining outstanding customer services as it continues to
explore newer horizons to deliver newer and better IT solutions to
its most valued premium asset – its customers. As Aamra grows ever
so competently, it promises to be the first to empower its customer
base with groundbreaking technological services that are
specifically designed to improve the efficiency of their business
for the first time in the history of its industry in Bangladesh.
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.
Caution:
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