{"id":202139,"date":"2017-11-23T11:48:43","date_gmt":"2017-11-23T15:18:43","guid":{"rendered":"https:\/\/metroactive.org\/wordpress\/?p=202139"},"modified":"2017-11-23T11:48:43","modified_gmt":"2017-11-23T15:18:43","slug":"first-global-achieves-more-than-1-million-users-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/metroactive.org\/wordpress\/2017\/11\/23\/first-global-achieves-more-than-1-million-users-and-provides-corporate-update\/","title":{"rendered":"First Global Achieves More Than 1 Million Users and Provides Corporate Update"},"content":{"rendered":"
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\/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\u00a0THE UNITED STATES<\/span>.\/<\/b><\/p>\n

TSX Venture Exchange: FGD
\nFrankfurt Stock Exchange: 1G5<\/p>\n<\/div>\n<\/div>\n

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TORONTO<\/span>,\u00a0Nov. 23, 2017<\/span>\u00a0\/CNW\/ – First Global Data (“First Global” or the “Company”) is very pleased to announce that it has exceeded 1 million users, and\u00a0would like to provide the following corporate update.<\/p>\n

Annual General Meeting:<\/p>\n

On\u00a0October 26, 2017<\/span>\u00a0the Company conducted its Annual General Meeting (“AGM”). The meeting was well attended with a record number of shareholders in attendance. The Company’s Chairman and CEO, Mr.\u00a0Andre Itwaru<\/span>\u00a0presented the Company’s corporate overview, lines of business, corporate strategy, objectives and direction.<\/p>\n

Mr. Itwaru shared that the Company’s corporate strategy includes a three-phased approach. Firstly, the Company partners with large strategic organizations which have an embedded customer base. Secondly, it works with its strategic partners to penetrate that embedded customer base by encouraging them to download the mobile app\/register. Thirdly, the Company works with its partners to encourage those customers to use one or many of the services offered to drive revenues.<\/p>\n

The Company’s current objectives include:<\/p>\n

    \n
  1. Customer Acquisiton: by leveraging partners’ base of existing users<\/li>\n
  2. Penetrating: 1 Million Active Users<\/li>\n
  3. Monetizing: Drive annual revenue per user (“ARPU”) to\u00a0$280<\/span><\/li>\n
  4. Continue to increase profitability<\/li>\n
  5. Increase customer penetration beyond 1 Million<\/li>\n
  6. Duplicate model in each corridor and every deploy<\/li>\n<\/ol>\n

    Mr.\u00a0Ken Zheng<\/span>, Chief Operating Officer of one of the Company’s\u00a0China<\/span>\u00a0based strategic partners, Lianlian Pay presented Lianlian and shared that Lianlian:<\/p>\n

      \n
    1. Is the 4th<\/sup>\u00a0largest mobile payment service provider in\u00a0China<\/span><\/li>\n
    2. Has a customer base of 150 million registered users<\/li>\n
    3. Has 10,000+ online merchants<\/li>\n
    4. Has processed in excess of\u00a0US$ 80 Billion<\/span>\u00a0in transactions to date in 2017<\/li>\n<\/ol>\n

      Mr. Zheng demonstrated the world’s first social messaging based cross border remittance service which has been launched in partnership between Lianlian Pay and First Global on the WeChat messaging platform. Mr. Zheng also shared his views on the growth and potential of the partnership with First Global. The presentations were quite interactive and there was significant interest by shareholders with many questions and answers. Presentations are available for view at:\u00a0www.firstglobaldata.com\/agm<\/a><\/p>\n

      India Progress and User Base:<\/p>\n

      First Global is pleased to advise that in\u00a0India<\/span>, through its partnership with\u00a0Vijaya Bank<\/span>\u00a0and the VPayqwik mobile wallet offering, the Company has achieved 972,364 users. The company is pleased with this penetration given the short timeframe services have been available in the Indian market. The Company is working with\u00a0Vijaya Bank<\/span>\u00a0to continue increasing the number of users and to drive incremental transactions and revenues per user.<\/p>\n

      Remittances User Base, Lianlian Pay, and US Licenses:<\/p>\n

      First Global is pleased to announce that its user base for remittances services in the\u00a0USA<\/span>\u00a0and\u00a0Canada<\/span>\u00a0which includes the Happy Transfer service launched in cooperation with Lianlian Pay has achieved 322,024 users.<\/p>\n

      Happy Transfer is a service available in the\u00a0USA<\/span>\u00a0on the WeChat social messaging platform. It allows a person in the\u00a0USA<\/span>to send money from their mobile phones to a user in\u00a0China<\/span>\u00a0in approximately 9 seconds. The service is the first of its kind in the world. Launch of services occurs on a state-by-state basis. The Company has launched this service in 24 states, continues its launch program into the other 10 states and has been working with Lianlian Pay toward launch in\u00a0Canada<\/span>.<\/p>\n

      In 2017, the Company has increased its US state money transmitter licenses by 13 and continues to work toward achieving all 50 licenses. The full complement of state licenses will enable the Company to offer all of its services country wide in the\u00a0USA<\/span>.<\/p>\n

      AnalytixInsight:<\/p>\n

      On\u00a0July 5, 2017<\/span>\u00a0the Company announced that it had entered into a Letter of Intent with Analytixinsight to expand First Global’s mobile payments services across\u00a0Europe<\/span>\u00a0and elsewhere in a revenue sharing model. AnalytixInsight will leverage its partnerships with organizations such as Samsung and Intesa Sanpaolo, to expand First Global’s mobile payments services across\u00a0Europe<\/span>\u00a0and elsewhere as determined by the Parties in a revenue sharing model. Intesa Sanpaolo – one of\u00a0Italy’s<\/span>\u00a0largest banks with a market cap of over \u20ac45 billion – has shared ownership in AnalytixInsight’s subsidiary Marketwall. Under the partnership, Intesa Sanpaolo will migrate approximately 8 million mobile banking users in 8,000 retail branches to Marketwall’s mobile platform across five European countries, to provide a range of mobile payment services.<\/p>\n

      The Company would like to advise that it is actively working with Analytixinsight to conclude the definitive agreement and to engage project teams toward service deployment anticipated to occur in Q1, 2018.<\/p>\n

      China Smartpay:<\/p>\n

      On\u00a0September 25, 2017<\/span>\u00a0First Global announced that it has entered into a Binding Memorandum of Understanding (“MOU”) with China Smartpay to deliver cross border payment solutions for Chinese vacation travelers and students studying overseas. The Company would like to advise that it is actively working with China Smartpay toward conclusion of the definitive agreement and service launch in time for\u00a0Chinese New Year<\/span>\u00a0on or prior to\u00a0February 16, 2018<\/span>.<\/p>\n

      In the\u00a0September 25, 2017<\/span>\u00a0announcement, Mr. Xiong, the President of China Smartpay Group Holding advised that, “Chinese outbound tourism will continue to experience consistent rapid growth. In 2016 Chinese outbound tourists spent\u00a0216 billion US dollars, of which\u00a0the United States\u00a0accounted for\u00a0120 billion US dollars. This shows that the North American market is one of most important destinations for Chinese tourists\u2026China Smartpay Group\u2026is partnering with First Global Data for its leading technology, licenses, and wide payment network and capabilities in\u00a0North America\u00a0to carry out the North American market mobile payment business.”<\/p>\n

      “The AGM was a great success. I sincerely appreciated meeting our shareholders, sharing our vision and progress, answering their questions and listening to their perspectives and advice. I am also very pleased with the progress we have made toward increasing our customer base. We are focused on having all of our deployments around the world contribute toward achieving 1 million active users generating\u00a0$280<\/span>\u00a0of revenue per user per year. We are very pleased with the progress we have made with our\u00a0China<\/span>\u00a0based partners as we deploy innovative solutions for the very large overseas Chinese demographic and shoppers. We also continue to improve our technological capabilities which includes enhancing our existing mobile wallet to encompass the acceptance of crypto currencies in a compliant and regulatory manner, and this solution will be available on a white label basis to our strategic partners. We believe that the impact of the progress we have made will be better understood toward the end of 2017 and into 2018″, said\u00a0Andre Itwaru<\/span>, Chairman and CEO of the Company.<\/p>\n

      About First Global<\/b><\/p>\n

      First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.<\/p>\n

      Caution:
      \n<\/b>Neither TSX Venture Exchange Inc. (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.<\/i><\/p>\n

      The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in\u00a0the United States<\/span>\u00a0absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.<\/i><\/p>\n

      Forward Looking Information:
      \n<\/b>This news release contains “forward-looking information” within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.<\/i><\/p>\n

      SOURCE First Global Data Limited<\/p>\n

      \"\"For further information: Andre Itwaru, Chief Executive Officer, t: (416) 504-3813, e: ir@firstglobaldata.com<\/p>\n

      Related Links<\/h4>\n

      www.firstglobaldata.com<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      \/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\u00a0THE UNITED STATES.\/ TSX Venture Exchange: FGD Frankfurt Stock Exchange: 1G5 TORONTO,\u00a0Nov. 23, 2017\u00a0\/CNW\/ – First Global Data (“First Global” or the “Company”) is very pleased to announce that it has exceeded 1 million users, and\u00a0would like to provide the…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-202139","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/202139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/comments?post=202139"}],"version-history":[{"count":0,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/202139\/revisions"}],"wp:attachment":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/media?parent=202139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/categories?post=202139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/tags?post=202139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}