Montreal, Quebec--(Newsfile Corp. - November 17, 2020) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724" or the "Company"), a fintech enabler of AI-enhanced payment card-linked incentives, announces that on November 11, it signed a Strategic Alliance Agreement (the "Alliance") with Avenida Inc. ("avenida+") to incorporate Mobi724's portfolio of solutions into their rapidly growing white-label marketplace and e-commerce business throughout Latin America, which offers over 100,000 products from more than 4,500 merchants and currently serves B2B clients across the region, including banks.
Through this multi-country joint go-to-market effort, avenida+ & Mobi724 (the "Partners") are positioned to expand their market share and enrich their value proposition without extensive capital investments.
avenida+'s white-label marketplace platform allows payment card issuers, loyalty program operators, shopping mall associations and other third parties to provide their customers with an infinite variety of products & offers online either from local merchant networks, or from leading global brands. avenida+ provides its clients with a flexible, efficient and fully traceable delivery platform, amalgamating multiple leading logistics enablers, allowing for up to 50% of shipping cost reduction in comparison to industry average. avenida+'s marketplace is integrated to several payment networks, allowing for a rapid scaling-up across Latin America and available either as a SAAS or as an E2E (end-to-end) model including customer service, onboarding of merchants, logistics, etc.
The combined product portfolios complement and enhance each other and allow the Partners to deliver a highly competitive and complete engagement & retention solution for payment card issuers, and e-commerce and brick & mortar merchants. The Alliance's market offering includes AI-enhanced personalized cashback offers; points-driven promotions (including an ability to pay with points at any point of sale); travel and entertainment offering through a leading online platform and multichannel real-time communication capabilities.
avenida+ and Mobi724 will promote and cross-sell their respective products and, through the integration of their platforms, will develop new data-driven features creating more seamless and personalized rewards options for cardholders, thereby diversifying their joint offering and increasing their competitive advantage.
By leveraging mutual strengths and exploiting product, geographic and operational synergies, the Partners are targeting faster market penetration, deeper integrations with clients and incremental revenues.
The Alliance is non-exclusive and on a collaborative basis, and avenida+ and Mobi724 retain their marketing, operational and corporate independence. The initial term of the Alliance is two years, which can be extended by mutual agreement.
Daniel Jejcic, CEO of avenida+ said, "This Alliance provides our clients with more tools to drive their businesses and accelerate the growth of both our companies by leveraging Mobi724's cutting edge technologies and avenida+'s established regional footprint."
Marcel Vienneau, CEO of Mobi724 said, "This Alliance with avenida+ immediately launches our AI-enhanced portfolio of solutions into the rapidly growing Latin American online market and enables our growth in the e-commerce world."
About Avenida Inc.
avenida+'s white-label marketplace platform allows payment card issuers, loyalty program operators, shopping mall associations and other third parties to provide their customers with an infinite variety of products & offers online either from local merchant networks, or from leading global brands. avenida+ provides its clients with a flexible, efficient and fully traceable delivery platform, amalgamating multiple leading logistics enablers, allowing for up to 50% of shipping cost reduction in comparison to industry average. avenida+'s marketplace is integrated to several payment networks, allowing for a rapid scaling-up across Latin America and available either as a SAAS or as an E2E (end-to-end) model including customer service, onboarding of merchants, logistics, etc.
For further information, please visit or contact:
Daniel Jejcic, CEO
About Mobi724 Global Solutions Inc.
Every Transaction is An Opportunity
Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company which provides a platform that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.
Legal Disclaimer
Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.
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 or contact:
Investor Relations:
Allan Rosenhek
CFO
Mobi724 Global Solutions Inc.
T: 514-394-5200
Eli Rozhansky
Investor Relations Coordinator
Mobi724 Global Solutions Inc.
T: 514-394-5200
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