TORONTO, ONTARIO--(Marketwired - April 27, 2017) - Zoompass Holdings Inc. ("Zoompass" or the "Company") (OTCQB:ZPAS) is pleased to announce the following update on the Company's business and information objectives going forward.
Zoompass is pleased to announce, through a wholly-owned subsidiary, has agreed to an exclusive partnership with Canadian based UVend Group of Companies (UVG) to place UVG Digital Self-Serve Kiosk solutions with mobility cell phones and accessories into key markets and high volume retail locations. The partnership follows Zoompass's strategy of being a unique integrated fintech company by bridging mobility with a global mobile money platform. The company is well positioned to use UVG's tech savvy self-serve solutions within a global reach by leveraging its existing relationships and network within the national retailer, airport and mall channels.
The offering will leverage an "easy to purchase solution" where consumers can use their credit card / debit card through a UVG self-serve digital kiosk to purchase mobility devices and accessories for $250 or less. This will include prepaid SIM cards, gift cards and much more. These solutions are currently being used to increase cost savings while also being effective in reducing shrinkage and labour costs at any location.
"UVG is very excited that Zoompass has selected us as their Self-Serve Digital Kiosk partner. The concept will allow our technology to retail Zoompass and partner devices / accessories in high volume locations and on a global basis," says Paul Neelin, Founder of Burlington, Ontario based UVG.
Zoompass President Steve Roberts echoed this sentiment, "UVend Group of Companies is Canadian based and is definitely the 'best of breed' when it comes to next generation Digital, self-serve kiosks for the resale of devices and accessories. It follows the trend for retailers' needs of reducing staff costs as well as reducing overall theft of mobility devices and products as a whole. We look forward to working with UVG on an international basis in both traditional and non-traditional locations."
Zoompass is also pleased to announce that during April it has completed several private placements which have raised approximately C$538,000 in gross proceeds through the issuance of 276,720 non-registered shares in the common stock of the Company.
Zoompass Inc. is a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions. In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. Zoompass's mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings. For more information about Zoompass, visit www.zoompass.com.
About UVend Group of Companies: UVend Group of Companies (UVG) is a digital and hardware innovator and media distributor that provides leading edge marketing solutions through digital self-serve kiosks and digital Grab N Go merchandisers. UVG has developed a unique mobile "bricks and clicks" platform that addresses and solves the delivery of engaged impressions that is currently eroding through traditional advertising. The model has enhanced profitability, customer engagement, and customer data collection with national brands and professional sport leagues throughout Canada and Latin America. www.uvendgroup.com
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.