MONTREAL, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (TSX-V: MOS), a fintech company announces that on September 12, 2019, its wholly owned subsidiary, Mobi724 Smart Transactions Inc, signed a 4-year commercial agreement, effective that same date, with Up Sí Vale, the leading provider of employee benefits solutions in Mexico and a subsidiary of international cooperative Group Up, to deploy Mobi724’s fintech capabilities through Up Sí Vale platform.

Up Sí Vale issues prepaid payment cards which companies, who are clients of Up Sí Vale, distribute to their employees as a part of an employee benefits program. The payment cards can be used for regular purchases among the broad network of participating merchants. As of 2019, Up Sí Vale processes over 86 million transactions annually and delivers services to over 5 million of its cardholders.

Under the agreement, Mobi724 will enable and process reward transactions within Up Sí Vale’s ecosystem. This will empower merchants, which include national and international blue-chip brands, to deliver personalized and relevant offers directly to Up Sí Vale cardholders. The cardholders will be able to redeem cash-back offers directly at the point-of-sale of participating merchants, both online and in-store. Revenues from this agreement are to be generated on per-transaction basis.

Gerardo Yepez, General Manager of Up Sí Vale said: “There is great synergy between the two companies. Mobi724’s solutions enable us to leverage the purchasing power of our cardholders to our targeted merchants’ network. This is aligned with our desire to use innovation in order to improve the quality of life of our cardholders. We are excited to partner with a market leading and innovative company.”

Marcel Vienneau, CEO of Mobi724 stated: “We are very pleased to enter into an agreement with a partner that is a market leader and transacts such a high volume of transactions in a key market in Latin America. We plan to launch in Q4 2019 and leverage our AI powered card-linked solutions.”

About Mobi724 Global Solutions Inc.

MOBI724, a global Fintech company, offers a fully integrated suite of multiple Card-Linked Offers and Rewards, Digital Marketing and Business Intelligence and Payment Solutions (including a mobile EMV compliant payment platform), which work with any payment card, on any mobile device and at any Point of Sale. MOBI724 provides turnkey solutions for card associations, card issuers, banks, retailers, manufacturers, offer providers, to create, manage, deliver and track and measure incentive campaigns worldwide in real time. The company captures value from big data to deliver seamless and personalized user experiences for the benefits of all parties in the ecosystem. MOBI724 headquarters are in Montreal, Canada, and the company presently has operations in North and Latin America, and the Caribbean.

About Up Sí Vale

Up Sí Vale is financial technology company with nearly 20 years of experience, specializing on issuance of vouchers and payment cards for redemption of employee benefits in Mexico.

Up Sí Vale is a subsidiary of Group Up, an international cooperative group (3,500 employees in 19 countries, over 185 million clients and over 26 million individual users) whose independence guarantees trust-based relationships with and between its stakeholders. Up Sí Vale offers solutions that create the conditions for individual commitment in companies and regions, for a life made easier and for the emergence of a fairer society. These solutions for management, communication, and exchange (payment, applications and digital platforms) are a process for improving the purchasing power and quality of life for the greatest possible number of people while offering freedom of choice and uses. 

For more information about Up Sí Vale please visit: https://www.sivale.mx/

For more information about Group Up please visit: https://groupe.up.coop/en/

Legal Disclaimer

Certain statements in this document, including those which express management expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances.

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 www.MOBI724.com or contact:

Investor Relations:

Eli Rozhansky
Investors Relations
MOBI724 Global Solutions Inc.
T: 514-394-5200
ir@mobi724.com