SmartCard Marketing Systems Inc (SMKG:OTCQB) is Pleased to Announce Entering a Joint Venture Partnership with Aces Group LLC, DBA: KanaCash, Africa
New York, NY , June 06, 2022 (GLOBE NEWSWIRE) -- via The company (SMKG:OTCQB) today to announced a JV partnership with KanaCash, a digital fintech organization based in Africa.
The partnership aims at providing KanaCash our proprietary Intellectual Property Portfolio offering to enable a marketplace linked with digital wallet for the merchant and customers based in Africa - offering them a unique solutions in digital payments.
The JV enables KanaCash to reach their goal and aims at capitalizing and implementing the tech suite in the untapped market.
More than two million Sub-Saharan African immigrants living in the US transfer money to families regularly. More individuals have a mobile money account than a traditional bank account in Sub-Saharan Africa. Access to mobile money agents is more widespread, particularly in rural areas, than bank branches. As a result, mobile money is quickly becoming the preferred method to receive remittances in the region, but it is still not widely available by the key players in the market. KanaCash will start sending remittances from the US to 11 African markets. Remittance inflows to Sub-Saharan Africa soared 14.1 percent to $49 billion in 2021. The business opportunity for a cutting-edge platform coupled with deep knowledge of the African diaspora and local (Africa) markets, position KanaCash to capture market share, compete and scale quickly.
In addition, mobile money transaction is becoming the preferred method of payments in Africa. Yet, about 60% of the African population (around 100 million people) remain without a traditional banking account. The unbanked population has a high penetration of smartphone poising a unique opportunity for a FinTech company like KanaCash.
KanaCash is currently operating in the United States, Liberia, Sierra Leone & Cabo Verde. They are licensed to operate in Liberia and Sierra Leone and have over 24,000 customers at the moment.
About the Partnership:
KanaCash has offered 15% stake in their company to SmartCard Marketing Systems Inc. at a valuation of $4 Million USD as part of this initiative in exchange of licensing.
CEO & Co-Founder McSwain Forkoh stated, “We are excited about the Joint Venture with SmartCard. With this JV, KanaCash is positioned to drive seamless customer experience and interoperability in remittance and payments across Africa.”
The CEO of SMKG:OTCQB, Massimo Barone, stated, “We are pleased to partner with KanaCash as a part of our accelerator program and we are excited to be the first to tap the market with this Joint Venture. Our collaboration with KanaCash expands our reach and is a major milestone for us to create adaptive offerings in Digital payments for the growth of local markets in Africa – also expanding Axepay’s global payment rails network.
“We are also extending the services to capture multi-industry services in E-commerce, Mobility, Brick/Mortar Retail and scale with AR/VR for the Metaverses. The IP suite of SMKG:OTCQB comprises of 20+ platforms which includes 8 marketplace technologies - All in one company.”
The market segments for the technologies include: Banking 4.0, Web 3.0, Payments, Cross-Border Payments, Retail Wallets, Omnichannel, NFT Minting, Crypto Issuing, Digital Assets Tokenization, Blockchain Multi-porting and most recently Metaverse(s).
About KanaCash:
Aces Group LLC, DBA: “KanaCash” is an innovative web and mobile application tailored to the mobile payment needs of Sub-Saharan Africa and its diaspora. KanaCash is integrating with existing local infrastructures and giving the population more access to and control over how, when, and where they spend their money. KanaCash currently provides international remittance between the US and Liberia, Ghana and Kenya and is expanding into other African countries. KanaCash is also expanding into a full-scale digital payment platform that include Mobile Money, Point of Sales Terminals (POS), online payments, Automatic Teller Machines (ATM) connectivity etc.
Noteworthy: Recent spotlight has been focused on the company's Visa Everywhere Fintech, Mumbai Gov't Fintech JV, Axepay FX Cross-border Payment Rails, Chat Bot AI code library acquisition, OriginatorX - Ethereum Token Issuing & Patent Tokenization and Xpay Payment minority ownership.
About SmartCard Marketing Systems Inc (OTCQB: SMKG):
SmartCard Marketing Systems Inc (OTC: SMKG) is an industry leader in specialized industry e-Commerce, Cloud and Mobility applications delivering White Label solutions to the global PayTech and FinTech markets. SMKG is a boutique technology company, providing Business Intelligence and Digital Transformation Strategies with a proprietary portfolio of applications and wireframes for Banking, Enterprises and Retail e-Wallets offering Blockchain Protocols, Crypto Issuing, NFT Minting, Tokenization, Digital ID-eKYC, Digital Automation Strategies with “License to Own” marketplace applications.
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For additional enquiries connect with:
Dharmesh Vora
President Enterprise Solution
SmartCard Marketing Systems Inc.
CEO, Massimo Barone
SmartCard Marketing Systems Inc.
OTC:SMKG Ph: 1-844-843-7296
CEO & Co-Founder, McSwain Forkoh,
Aces Group LLC, DBA: “KanaCash”
