October 22, 2018
Ficanex® Partners With Mobetize to Launch Sendglobal™ International Money Remittance Service
VANCOUVER, British Columbia, Oct. 22, 2018 (GLOBE NEWSWIRE) — Mobetize Corp. (MPAY), a provider of mobile financial services for the multi-billion dollar business to business segment of the fintech sector is pleased to announce that it has entered into an International Money Remitance Service Agreement with FICANEX for its smartRemit solution integral to the launch of tunl.™, a fintech integration platform for FICANEX’s premier service SendGlobal™.
Mobetize’s smartRemit is a proprietary white-label payments solution that enables international money transfer capabilities globally. smartRemit is fully integrated and provides convenient, efficient, scalable, and inexpensive global money transfers for senders and recipients using a mobile device. Users can initiate international money transfers through their financial institution via a downloadable native application available from Apple iOS marketplace and on Google Play. smartRemit provides financial instutions with secure, compliant, and simple mobile money transfer capabilities with payout channels in over 165 countries at more than 175,000 payout locations.
The tunl.™ platform integrates smartRemit with FICANEX’s EXCHANGE® Network’s technology infrastructure to provide easy, cost effective and secure delivery of money through next-generation digital services. The first service to be offered on the tunl.™ platform is SendGlobal™, a fully digital international money transfer service that provides a convenient and secure way for Canadians to send money around the world. Canadians send over $20 billion each year to recipients in foreign countries. SendGlobal™ enables financial institutions to satisfy their customers’ growing demand for mobility in financial services while opening a new revenue opportunity for credit unions and banks.
SendGlobal™ is the result of collaboration by some of the best payment technologies in Canada that connects one of the largest financial institution networks in Canada with one of the largest international money transfer networks in the world,” said Andrew Obee, President & CEO of FICANEX. “It’s the first of its kind globally, and we are proud to have partnered with Mobetize Corp. to bring it to fruition.” Mr. Obee, further commented that “our agreement with Mobetize, enables FICANEX to offer our 170+ member financial institutions a competitive solution for digital international money transfers for their 5.5 million+ cardholders. We can now offer a truly differentiated service that would be difficult and challenging for individual financial institutions to develop.”
“We are thrilled to be an integral part of this collaboration with FICANEX and their partners. Mobetize’s relationship with FICANEX validates its business model for partnering with financial institutions to deliver trusted fintech solutions. smartRemit provides distinct advantages for financial institutions to set their own fees, FOREX spreads, access a global cash payout network and connect with bank accounts in compliance with cross border regulation of person to person payments. Mobetize is excited to be a key stakeholder in this collaboration as it is the first cross border remittance solution of its kind,” said Ajay Hans, President & CEO of Mobetize.
About FICANEX®FICANEX owns and operates THE EXCHANGE® Network; Canada’s largest surcharge-free ATM network and the tunl.™ technology platform that provides next-generation digital services for financial institutions across Canada.
For more information please visit:
Andrew Obee, President & CEO
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.
For more information please visit:
Ajay Hans, President & CEO
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.