Xpress Money and Mobetize Partnership Powers FICANEX SendGlobal™ International Money Remittance Service
VANCOUVER, British Columbia, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Mobetize Corp. (OTCQB:MPAY), a provider of mobile financial services for the multi-billion dollar business to business segment of the fintech sector, is pleased to announce a partnership with Xpress Money in a fintech collaboration based on its smartRemit solution. smartRemit has been licensed by FICANEX® to launch its premier service SendGlobal™ with their member financial institutions.
Mobetize’s smartRemit is a proprietary white-label payments solution that enables international money transfer capabilities globally. smartRemit is fully integrated with the Xpress Money remittance processing network to provide convenient, efficient, scalable, and inexpensive global money transfers for senders and recipients using mobile devices. The partnership onboards financial institutions through a network partnernship agreement with the Xpress Money network, so that customers can complete cross border peer to peer international money transfers. smartRemit is designed to meet global compliance and security requirements drawing on Xpress Money’s substantial experience in international money remittance.
“Financial institutions today are moving towards integrating multiple fintech solutions together to reach a larger audience base. Through this collaboration the digital realm of remittances has opened itself to state-of-the-art technology, increased channels of revenue and satiates burgeoning customer demand. This platform will serve as an ideal playing field to cater to the rising remittance demands of Canadians, said Xpress Money COO, Sudhesh Giriyan, “With experience spanning two decades and a robust network in more than 160 countries built through strong partnerships over the years, we have the expertise and the technology to deliver solutions for all money transfer needs”, he concluded.
“This partnership is a milestone for Mobetize in its determination to deliver trusted and value added financial services. Our partnership provides Canadians with a convenient and secure way to send money globally. We are passionate about ensuring that our solutions help families to improve their financial well-being”, stated Ajay Hans, CEO Mobetize. “Canadians send over $20 billion each year to recipients in foreign countries. We are thrilled to partner with Xpress Money and FICANEX® to enable Canadian financial institutions the platform to offer a compelling money transfer service, generate new revenue opportunities and increase customer loyalty.”
About ‘Xpress Money’:
Established since 1999, ‘Xpress Money’ is a global money transfer brand with a thriving presence in more than 160 countries across all continents through over 160,000 locations. It is one of the most dependable and renowned international money transfer brands across the globe. ‘Xpress Money’ provides customers convenient, simple and secure ways to transfer money across geographies. Its widespread network is strengthened by collaborations with renowned organizations that include international money transfer operators (IMTOs), banking as well as non-banking institutions, retail chains, online remittance players and fintech companies. Xpress Money’s state of the art compliance and security policies ensure customers a secure and hassle-free money transfer process.
Xpress Money is part of the Finablr network of brands. With category renowned brands in its fold, Finablr provides a broad array of innovative and trusted financial solutions for consumers, corporates and enterprises, through its deep regulatory know-how, relentless focus on technological innovation and a global network of retail stores, digital channels, payments platforms and industry partnerships.
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About Mobetize Corp.
Mobetize is a mobile business to business fintech that is transforming the way money is managed. We provide digitized payments and lending solutions to financial institutions, money service businesses, and telecommunications organizations.
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Contact Information:
Ajay Hans, President & CEO
(778) 588-5563
Forward Looking Statements
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, statements concerning Mobetize's outlook, pricing trends, and forces within the industry, expected sales growth, cost reduction strategies, and their results, long-term goals of Mobetize and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for Mobetize's products or in supplier costs; the actions of competitors; the success of customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; and other unforeseen circumstances. A number of these factors are discussed in Mobetize's filings with the Securities and Exchange Commission. Mobetize disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
