TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Sept. 14, 2017 /CNW/ - First Global Data ("First
Global" or the "Company") is very pleased to announce that pursuant
to its June 6, 2017 press release,
the Company has launched the ImpalaPay mobile wallet under the
brand "Comet", and the Company has also secured three additional US
State money transmitter licenses.
The Company had previously announced its strategic partnership
with ImpalaPay. As a reminder, ImpalaPay is a Kenyan based payments
company which has significant partnerships and reach across the
African continent. ImpalaPay and First Global have partnered to
white label the First Global mobile wallet and cross border
compliance platforms for the deployment of a FINTECH ecosystem and
marketplace with domestic and cross border payment and remittance
services in 19 countries across the African continent.
ImpalaPay has access to 7 national payment switches, and is in
partnership with Airtel Africa for access to 76 million
subscribers. ImpalaPay is also engaged in a universal agreement
with UBA Bank which provides licensing in 19 countries and to
approximately 17 million account holders.
The Comet mobile wallet has been launched in Kenya in a controlled beta format which is
part of the standard product launch process. The beta version is
available in Google Play and can be found when searching for
"Comet-Mobile Wallet" provided by MSEWA. MSEWA is the Company's
India subsidiary. Access to Comet
is limited to persons with a Kenyan mobile phone number, which is
standard for the Company's in-country mobile wallet deployments.
Over the next few weeks, First Global will work with ImpalaPay to
fine tune the user experience and services toward a full launch.
This will be followed by a two phased marketing program designed to
first penetrate the existing available client base through
downloads, then to increase the number of transactions per
user.
First Global is also pleased to advise that its wholly owned US
subsidiary, First Global Money Inc., has been granted three new
money transmitter licenses in the USA in the States of Indiana, Wyoming and Alabama. The Company now has money transmitter
licenses and is able to conduct money service business in 29 US
States.
"We are very fortunate to have secured a number of quality
partnerships as is evidenced by our earlier press releases. As we
continue to increase our business partnerships, we have also
focused on methodically increasing our staffing to deploy these
opportunities. That process is working well and we look forward to
sharing additional progress with our shareholders. We are also very
pleased to have obtained three new US State money transmitter
licenses for a total of 29 as we focus to increase our licensing
footprint in the USA and
elsewhere. Our US licenses enable us to build world class compliant
technology and services, and also enable us to expand our services
across the USA and beyond. This is
a cornerstone for First Global. We are generally pleased with our
progress to date as we have shifted into deployment mode. Beyond
deployment our focus is on monetization", said Andre Itwaru, Chairman and CEO of First Global
Data Limited.
About First Global Data Ltd.
(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