MOBI724 Global Solutions Inc. (“MOBI724” or the
“Company”) (TSX-V:MOS), a global Fintech company, announces that on
May 17th, 2019, its wholly owned subsidiary, MOBI724 Smart
Transactions Inc., signed a 3-year regional agreement with
Promerica Financial Corporation (“Grupo Promerica”), a group that
operates commercial banks in 9 countries in Central and South
America, and the Caribbean, to enable cardholders of Grupo
Promerica banks to use their accumulated points to purchase travel
and entertainment products offered by the Despegar.com platform
(“Despegar”), the leading online travel company in Latin America,
through MOBI724’s fintech platform.
Under the terms of the commercial agreement,
Grupo Promerica’s cardholders will be able to use MOBI724’s white
label platform to access Despegar’s ecosystem, thereby allowing
them to use their loyalty points to book and pay for Despegar
products and services directly through Grupo Promerica’s websites
or mobile apps. MOBI724 will generate booking fees from the
sales processed through the Company’s platform. The commercial
agreement extends to all countries where Grupo Promerica
operates.
Grupo Promerica is the first client to benefit
from the Market Development Agreement between MOBI724 and Despegar,
which will permit the Company’s clients, banks and other payment
card issuers, as part of their loyalty reward strategy, to use
MOBI724’s platform to access Despegar’s ecosystem. MOBI724 will
generate booking fees from the sales processed through its
platform. The Market Development Agreement extends to all 20
countries where Despegar operates.
Adolfo Rosales, Executive Vice President at
Grupo Promeria, said: “We are committed to delivering best-in-class
benefits to our clients, and working with visionary innovators and
market leaders is a part of our strategy”.
Pablo Montivero, Regional Distribution Director
at Despegar, said: “This is in line with our aim to bring
innovation to our ecosystem and provide an improved travel
experience to cardholders, by enabling them to seamlessly redeem
their points when purchasing for leisure products and services in
our platform”.
Marcel Vienneau, CEO of Mobi724, said: “Our goal
is to offer payment card issuers an all-in-one comprehensive,
seamless and complete loyalty solution. To this end, signing these
agreements with Despegar and Grupo Promerica, true market leaders,
are remarkable milestones, and we are very proud of the confidence
placed in us.”
About Promerica Financial
Corporation
Grupo Promerica is a large financial group
domiciled in Panama, authorized to operate and supervised by the
Superintendencia de Bancos de Panama. As of November 2018, the
company had consolidated assets of US$14.0 billion, deposits of
US$10.6 billion and capital of US$1.3 billion. Grupo Promerica is
the majority shareholder in commercial banks, with over 2 million
customers and 10,000 employees, in nine countries in Central and
South America and the Caribbean, and it is the third largest
financial institution in the region. For more information, please
visit www.grupopromerica.com
About Despegar.com
Despegar is the leading online travel company in
Latin America. With over two decades of business experience and
operating in 20 countries in the region, Despegar accompanies Latin
American travelers from the moment they dream of taking a trip
until they share their memories of that trip. Thanks to the strong
commitment to technological development and customer service,
Despegar offers a tailor-made experience to more than 18 million
customers.Despegar’s websites and leading mobile apps, offer
products from over 300 airlines, more than 520,000 accommodation
options, as well as approximately 1,100 car rental agencies and
approximately 240 destination services suppliers with more than
8,700 activities throughout Latin America. The Company owns and
operates two well-recognized brands, Despegar, its global brand,
and Decolar, its Brazilian brand. Despegar is traded on the New
York Stock Exchange (NYSE: DESP). For more information, please
visit www.despegar.com.
About Mobi724 Global Solutions
Inc.
“We enable smart transactions anywhere.”
MOBI724, a global Fintech company, offers a
fully integrated suite of multiple Card-Linked Offers and Rewards,
Digital Marketing and Business Intelligence and Payment Solutions
(including a mobile EMV compliant payment platform), which work
with any payment card, on any mobile device and at any Point of
Sale. MOBI724 provides turnkey solutions for card associations,
card issuers, banks, retailers, manufacturers, offer providers, to
create, manage, deliver and track and measure incentive campaigns
worldwide in real time. The company captures value from big data to
deliver seamless and personalized user experiences for the benefits
of all parties in the ecosystem. MOBI724 headquarters are in
Montreal, Canada, and the company presently has operations in North
and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
Certain statements in this document, including
those which express management expectations or estimations with
regard to the Company’s future performance, constitute
“forward-looking statements” as understood by applicable securities
laws. Forward-looking statements are, of necessity, based on a
certain number of estimates and hypotheses; while management
considers these to be accurate at the time they are expressed, they
are inherently subject to significant uncertainties and risks on
the commercial, economic and competitive levels. We advise readers
that these forward-looking statements are subject to risks,
uncertainties, and other known and unknown factors that may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. Investors are advised to not rely unduly on the
forward-looking statements. This advisory applies to all
forward-looking statements, whether expressed orally or in writing,
attributed to the Company or to any individual expressing them in
the name of the Company. Unless required by law, the Company is
under no obligation to publicly update these forward-looking
statements, whether to reflect new information, future events, or
other circumstances.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute a
solicitation to buy or sell any securities in the United
States.
For further information, please visit www.MOBI724.com or
contact:
Investor Relations:
Marcel VienneauPresident/CEOMOBI724 Global Solutions Inc.T:
514-394-5200; E: ir@mobi724.com
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