IQST - iQSTEL Brings PayPal and Venmo Alternatives To Underserved Rapidly Growing Market Segment
October 20 2020 - 9:33AM
InvestorsHub NewsWire
New York, NY
-- October 20, 2020 -- InvestorsHub NewsWire -- iQSTEL, Inc.
(USOTC:
IQST) today announced the market segment focus of the company’s
recently launched Fintech Division is the global migrant
population.
The United Nations reports that the annual global
migrant population growth exceeds the number of new births
globally, with the largest number of the world’s migrants residing
within the United States.
The number of
international migrants reached 272 million globally in
2019.
Migrants have
specific financial management criteria that often cannot be met by
the ordinary and readily available Fintech products such as PayPal
and Venmo. Opening a bank account in a new country and often
being paid in cash for work are just some of the challenges faced
by migrant works.
Building on
top of the company’s $16 million in revenue from telecommunication
services reported in the company’s audited 2019 annual financial
report and the $16 million in revenue reported through June 2020,
IQST has now launched a Fintech Division to provide financials
service alternatives to the common PayPal and Venmo type
applications not readily available to the world’s growing 272
million population.
Below are of
some of the targeted Fintech products and services designed
specifically for the global immigrant
population:
* Send money
domestically and internationally with low
fees.
* Send money via
SMS using a customized SMS service (smartphone not
required).
* Pay utility
bills with minimal payment fees (mobile, electricity, gas
services).
* VISA debit
card solution.
According to
Global X and Mauro F. Romaldini (TopTal), the Fintech industry is
growing at an almost exponential rate with over $500B in annual
remittances and over $1.5T in annual mobile
payments.
Look for more
news coming soon on IQST’s Fintech
Division.
About iQSTEL
Inc.:
iQSTEL Inc
(OTC:
IQST) www.iQSTEL.com is
a US-based publicly listed company offering leading-edge
21st Century Enhanced Telecommunications Services with a focus
on a wide range of cloud-based enhanced services to the Tier-1 and
Tier-2 carriers, corporate, enterprise, as well as the retail
market. iQSTEL through its subsidiaries Etelix, SwissLink, QGlobal
SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain
offers a "one-stop-shopping” for international and domestic VoIP
services, IP-PBX services, SMS exchange for A2P and P2P,
OmniChannel Marketing, Internet of Things (IoT) applications (IoT
Smart Gas Platform), 4G & 5G international infrastructure
connectivity, as well as blockchain-based platforms: Mobile Number
Portability Application (MNPA) and Settlement & Payments
Marketplace for VoIP, SMS and
Data.
About Etelix.com
USA, LLC:
Etelix.com USA
LLC www.etelix.com is
a wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a
Miami, Florida-based international telecom carrier founded in 2008
that provides telecom and technology solutions worldwide, with
commercial presence in North America, Latin America, and Europe.
Enabled by its 214-license granted by the Federal Communications
Commission (FCC), Etelix provides International Long-Distance voice
services for Telecommunications Operators (ILD Wholesale), and
Submarine Fiber Optic Network capacity for internet (4G and 5G).
Etelix was founded in 2008 and has been profitable since
inception.
About SwissLink
Carrier AG:
SwissLink
Carrier AG www.swisslink-carrier.com is
a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a
Switzerland based international Telecommunications Carrier founded
in 2015 providing international VoIP connectivity worldwide, with
commercial presence in Europe, CIS and Latin America. SwissLink
Carrier AG is a Swiss licensed Operator, having a domestic
Interconnect with Swisscom, allowing their international Carrier
Customers direct terminations via SwissLink into all Switzerland
Fix & Mobile Networks. Since the takeover from Swissphone in
November 2018 and the rename into SwissLink, they operate on a
profitable level.
About QGlobal
SMS LLC.:
QGlobal SMS
LLC www.qglobalsms.com is
a 51% owned subsidiary of iQSTEL Inc. QGlobal SMS is a USA based
company and a commercial brand founded in 2020 specialized in
international and domestic SMS termination, with emphasis on the
Applications to Person (A2P) and Person to Person (P2P) for
Wholesale Carrier Market and Corporate Market in US. QGlobal SMS
has commercial presence in US, Mexico, Latin America, EMEA (Europe,
Middle East, Asia) and Africa, through our SMS service providers
based in Austin, TX and Miami, FL Our Austin-based SMS service
provider is specialized in the SMS traffic exchange between US and
Mexico, and our Miami-based SMS service provider is focused in the
development of Latin America and the rest of the world. QGlobal SMS
has robust international interconnection with Tier1 SMS
Aggregators, guarantying its customers high quality and low
termination rates, over more than 100 countries
worldwide.
About Alcyon
Cloud SMS S.A.S (Commercial
Brand SMSDirectos.com ):
Alcyon Cloud SMS
S.A.S. (Commercial Brand SMSDirectos.com),
is a whole subsidiary of QGlobal SMS, a Colombian-based Application
and Content Provider. Alcyon Cloud SMS (SMSDirectos.com) is
registered with the Secretary of Information and Communication
Technology (ICT) in Colombia, offering services to government,
enterprises, small and medium business, as well as end-users. Using
SMSDirectos’ existing network, they plan to expand services from
SMS to offer omnichannel products and services such as: SMS,
Emails, RCS (Rich Communications Services), Social Media Channels
(Whats App, Messenger, etc), WebRTC (Web Real-Time Communication),
VoIP (IP-PBX, SIP Trunking) ChatBots (Artificial Intelligence
Based), SMS to Email, and Email to
SMS.
About IoT Labs
MX SAPI:
IoT Labs MX
SAPI www.iotlabs.mx ,
a subsidiary of iQSTEL Inc, is an Internet of Things (IoT) Mexican
technology development company, creator of the “IoT Smart Gas”
Platform and Application. The IoT Smart Gas
platform www.iotsmartgas.com consists
of an IoT field device installed on the LP gas tank (adaptable to
virtually any gas or liquid storage tank) and, thanks to the
Internet of Things (IoT) technology via Sigfox or GSM network
connectivity, allows remote managed and improved logistic processes
of refilling, usage tracking and tank monitoring in real-time by
the Smart Gas mobile app. The new GSM tracking feature allows for
mobile use including ground, air, and sea tank
monitoring.
About itsBchain
LLC.:
itsBchain LLC www.itsBchain.com is
a 75% owned subsidiary of iQSTEL Inc. itsBchain is a blockchain
technology developer and solution provider, with a strong focus on
the telecom sector. The company is the final stage of
development of a series of blockchain solutions aimed at using the
blockchain ledger and smart contract solutions to enable more
efficiency, quickness in execution and fraud-prevention in the
telco industry. Specifically, the company is developing a
solution that will enable users and carriers to transfer mobile
phone numbers with just a few clicks, allowing users and carriers
the ability to transfer retail users from one mobile carrier
to another instantly. Additionally, the company is finalizing
a carrier-grade marketplace solution to procure payments between
carriers for cross-traffic of VoIP, SMS and data realtime as
traffic is crossed between carriers. This marketplace will
allow for instant payment settlement as well as the prevention of
fraud between carriers.
Safe Harbor
Statement: Statements in this news release may be
"forward-looking statements". Forward-looking statements include,
but are not limited to, statements that express our intentions,
beliefs, expectations, strategies, predictions or any other
statements relating to our future activities or other future events
or conditions. These statements are based on current expectations,
estimates and projections about our business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and are likely to, differ materially from
what is expressed or forecasted in forward-looking statements due
to numerous factors. Any forward-looking statements speak only as
of the date of this news release and iQSTEL Inc. undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this news
release.
iQSTEL
Inc.
IR US Phone:
646-740-0907, IR Email: investors@iqstel.com
Source: iQSTEL
Inc. and its subsidiaries:
www.iqstel.com ; www.etelix.com ; www.swisslink-carrier.com ; www.qglobalsms.com ; www.smsdirectos.com ; www.iotlabs.mx ; www.iotsmartgas.com ; www.itsBchain.com
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