{"id":202186,"date":"2018-02-01T09:07:02","date_gmt":"2018-02-01T12:37:02","guid":{"rendered":"https:\/\/metroactive.org\/wordpress\/?p=202186"},"modified":"2018-02-01T09:07:02","modified_gmt":"2018-02-01T12:37:02","slug":"first-global-signs-agreement-with-tencent-payment-company","status":"publish","type":"post","link":"https:\/\/metroactive.org\/wordpress\/2018\/02\/01\/first-global-signs-agreement-with-tencent-payment-company\/","title":{"rendered":"First Global Signs Agreement with Tencent Payment Company"},"content":{"rendered":"<p class=\"meta\">NEWS PROVIDED BY<\/p>\n<p><strong>First Global Data Limited<\/strong><\/p>\n<p class=\"mb-no\">06:00 ET<\/p>\n<div class=\"row\">\n<div class=\"col-sm-10 col-sm-offset-1\">\n<p>TSX Venture Exchange: FGD<br \/>\nFrankfurt Stock Exchange: 1G5<\/p>\n<p><span class=\"xn-location\">TORONTO<\/span>,\u00a0<span class=\"xn-chron\">Feb. 1, 2018<\/span>\u00a0\/CNW\/ &#8211; First Global Data Limited is pleased to announce that its wholly owned US subsidiary, First Global Money Inc. (collectively &#8220;First Global&#8221; or the &#8220;Company&#8221;) has entered into an agreement with Tenpay Payment Technology Co. Ltd, a subsidiary of\u00a0<span class=\"xn-money\">Tencent<\/span>\u00a0Holdings (collectively &#8220;<span class=\"xn-money\">Tencent<\/span>&#8220;).<\/p>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-sm-10 col-sm-offset-1\">\n<div class=\"gallery inline-carousel\">\n<div class=\"gallery-carousel-main flickity-enabled\" tabindex=\"0\">\n<div class=\"flickity-viewport\">\n<div class=\"flickity-slider\">\n<div class=\"gallery-cell is-selected\">\n<figure>\n<div class=\"image lightbox-item \" data-asset-type=\"Photo\" data-asset-id=\"First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg\" data-asset-label=\"General\" data-src=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600\" data-sub-html=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" data-tweet-text=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" data-facebook-share-text=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" data-linkedin-text=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" data-download-url=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600\" data-pinterest-text=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" data-twitter-share-url=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600?p=twitter\" data-linkedin-share-url=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600?p=linkedin\" data-facebook-share-url=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600?p=facebook\" data-pinterest-share-url=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=1600?p=publish\"><img decoding=\"async\" id=\"imageid_1\" class=\"img-responsive\" title=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" src=\"https:\/\/mma.prnewswire.com\/media\/636484\/First_Global_Data_Limited_First_Global_Signs_Agreement_with_Tenc.jpg?w=800\" alt=\"First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)\" \/><\/div><figcaption>First Global Data, First Global Money, PayQwik (CNW Group\/First Global Data Limited)<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-sm-10 col-sm-offset-1\">\n<p>Tenpay is a leading payment platform owned by\u00a0<span class=\"xn-money\">Tencent<\/span>. The platform is dedicated to providing efficient and professional cross-border online and offline payment service to global users.\u00a0<span class=\"xn-money\">Tencent<\/span>\u00a0also owns WeChat, a social messaging platform which has close to 1 billion users registered globally, and WeChat Pay which is the mobile payment service embedded in the WeChat social messaging service which Tenpay operates.<\/p>\n<p>On\u00a0<span class=\"xn-chron\">November 21, 2017<\/span>, Fortune reported that: &#8220;Tencent\u00a0(TCTZF, +1.21%)\u00a0has become the first Chinese tech firm valued over\u00a0<span class=\"xn-money\">$500 billion<\/span>. Shares of the 19-year-old company, listed on the Hong Kong Stock Exchange, hit record numbers on Tuesday, rallying to close at HK$430\u00a0to give it a market capitalization of some\u00a0<span class=\"xn-money\">$522<\/span>\u00a0billion\u2014about\u00a0<span class=\"xn-money\">$3 billion<\/span>\u00a0above Facebook&#8217;s closing valuation of\u00a0<span class=\"xn-money\">$519 billion<\/span>\u00a0Monday.&#8221; The article can be found at:<\/p>\n<p><a href=\"http:\/\/fortune.com\/2017\/11\/21\/tencent-market-capitalization-500-billion-facebook\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/fortune.com\/2017\/11\/21\/tencent-market-capitalization-500-billion-facebook\/<\/a><\/p>\n<p>As part of this &#8220;Cross Border Payment Acquiring Service Agreement&#8221;, First Global will work closely with\u00a0<span class=\"xn-money\">Tencent<\/span>\u00a0to expand merchant processing and settlement services in the\u00a0<span class=\"xn-location\">USA<\/span>. The service will enable existing WeChat users to make payments from their WeChat mobile wallet at retailers and merchants located in the\u00a0<span class=\"xn-location\">USA<\/span>.<\/p>\n<p>In\u00a0<span class=\"xn-location\">China<\/span>, mobile wallets are the predominant method used for payments. WeChat users load local Chinese funds (&#8220;RMB&#8221;) into their WeChat mobile wallets and make payments across\u00a0<span class=\"xn-location\">China<\/span>\u00a0using WeChat Pay. WeChat Pay is one of the leading payment services widely accepted. The service provided under this agreement will enable WeChat users to travel to the\u00a0<span class=\"xn-location\">USA<\/span>\u00a0and make purchases at retailers and merchants seamlessly. First Global, working together with\u00a0<span class=\"xn-money\">Tencent<\/span>\u00a0will facilitate the conversion from RMB to US dollars and the settlement of payments with the retailers and merchants in the\u00a0<span class=\"xn-location\">USA<\/span>. First Global announced on\u00a0<span class=\"xn-chron\">January 16, 2018<\/span>\u00a0that it entered into a definitive agreement with China Smartpay. China Smartpay works closely with\u00a0<span class=\"xn-money\">Tencent<\/span>\u00a0for the processing of WeChat Pay transactions in\u00a0<span class=\"xn-location\">China<\/span>. The companies will work together to ensure that all requisite compliance controls are in place and regulatory guidelines are followed in both countries. The companies will also share transactional revenues.<\/p>\n<p>&#8220;This is a significant milestone for First Global. We are very pleased to have been chosen as a partner by\u00a0<span class=\"xn-money\">Tencent<\/span>. In discussions leading up to this agreement, among other things, First Global&#8217;s strength and focus on technology and compliance were key determining factors. We believe that this collaboration will bring an incredible opportunity to the US retail sector which is open to embracing new technologies that help to drive incremental business. We are already working closely with our partners toward the deployment of services. It is gratifying to see that the assets and value we have built in First Global over the past few years are now being recognized by large and successful companies such as\u00a0<span class=\"xn-money\">Tencent<\/span>&#8220;, commented\u00a0<span class=\"xn-person\">Andre Itwaru<\/span>, Chairman and CEO of First Global Data Limited.<\/p>\n<p><b>About First Global Data Ltd. (<a href=\"http:\/\/www.firstglobaldata.com\/\" target=\"_blank\" rel=\"nofollow noopener\">www.firstglobaldata.com<\/a>)<\/b><\/p>\n<p>First Global is an international financial services technology (&#8220;FINTECH&#8221;) company. The Company&#8217;s two main lines of business are mobile payments and cross border payments. First Global&#8217;s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (&#8220;P2P&#8221;), Business to Consumer (&#8220;B2C&#8221;), and Business to Business (&#8220;B2B&#8221;) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.<\/p>\n<p><b>Caution:<br \/>\n<\/b><i>Neither TSX Venture Exchange Inc.\u00a0<\/i><i>(&#8220;TSXV&#8221;) 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<p><i>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\u00a0<span class=\"xn-location\">the 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<p><b>Forward Looking Information:<br \/>\n<\/b><i>This news release contains &#8220;forward-looking information&#8221; 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<p>SOURCE First Global Data Limited<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C6901&amp;Transmission_Id=201802010600CANADANWCANADAPR_C6901&amp;DateId=20180201\" alt=\"\" \/>For further information: Andre Itwaru, Chairman and CEO, First Global Data Limited, email: ir@firstglobaldata.com<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEWS PROVIDED BY First Global Data Limited 06:00 ET TSX Venture Exchange: FGD Frankfurt Stock Exchange: 1G5 TORONTO,\u00a0Feb. 1, 2018\u00a0\/CNW\/ &#8211; First Global Data Limited is pleased to announce that its wholly owned US subsidiary, First Global Money Inc. (collectively &#8220;First Global&#8221; or the &#8220;Company&#8221;) has entered into an agreement&hellip;<\/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-202186","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/202186","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=202186"}],"version-history":[{"count":0,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/202186\/revisions"}],"wp:attachment":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/media?parent=202186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/categories?post=202186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/tags?post=202186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}