Mobetize Corp. (fka MPAY)

[buythebuy]

MPAY Low float with Revenue Growth$$$

Shares Outstanding 23.33M
Float 15.7M

Mobetize Reports Quarterly Revenue Growth
1:34 pm ET August 18, 2016 (Globe Newswire) Print

Mobetize Corp. (OTCQB:MPAY) Mobetize Corp., an emerging participant in the provision of mobile financial services (MFS) technology for the multi-billion dollar business to business (B2B) segment of the financial technology (Fintech) sector is pleased to announce that revenues generated during the three month period ending June 30, 2016, were $75,618 as compared to revenues of $3,335 during the same period in 2015.

Revenue Model and Ongoing Business

Mobetize revenue is generated through licensing, consulting, and transactional processing of financial services through the Mobetize Global B2B Fintech Marketplace (the "Hub"). Mobetize is focused on selling Fintech solutions and services to global telecom operators and financial institutions (FI's).

Telecom and financial institutions are choosing Mobetize to provide consulting (development) services and to act as a commercial partner. Mobetize expects to realize significant transactional revenues from these relationships.

We continue to work with Tata Communications Canada Ltd. ("Tata") to develop and power its Mobile Money Enablement strategy and roadmap including marketing and customer onboarding strategies for their B2B Fintech model. We expect transactional revenues to commence from a commercial relationship in our 3 fiscal quarter 2016.

During our first fiscal quarter of 2016, we signed an LOI and a consulting agreement with a Canadian FI to jointly develop and market a digitized lending application built on the core Mobetize Hub platform. The success of this engagement has uniquely positioned Mobetize to partner with FI's across North America to digitize and simplify bank lending processes. The goal of Mobetize is to assist FI's to perform auto Know Your Client and Anti Money Laundering compliance in addition to auto adjudicating the personal bank lending process.

The online lending industry is growing at a rapid pace with industry experts predicting it to become a $1 trillion industry by 2025. Online lending will enable banks to offer consumer and small business borrowers quick and affordable access to credit, transforming traditional lending processes.

During our first fiscal quarter we also came significantly closer to consummating a partnership with the second largest FI ATM Network comprised of 150+ banks. We have progressed to the point where Mobetize expects a commercial agreement to be executed in our second fiscal quarter of 2016. An agreement with this banking network would permit us to offer the Mobetize Hub financial services applications to over five million debit card holders across Canada.

Over the remainder of 2016 and into 2017, Mobetize will continue to pursue its strategy of offering Mobetize Hub services to telecom operators and financial institutions. We will also continue to focus on expanding our collection of fintech partners and on R&D innovation in order to create the latest technologies that will solve real world problems in today's financial services landscape. During our second and third fiscal quarters we anticipate significant growth in our Fintech banking relationships, an increase in transactional volumes and developing an acquisition and joint venture revenue model.

About Mobetize Corp.

Mobetize Corp. (OTCQB:MPAY) is an emerging Fintech Company that has developed a global B2B Fintech financial services marketplace (the "Hub"). Mobetize converges telecom and banking to simplify the delivery of mobile money services to leading telecommunications companies and financial institutions. Mobetize technology helps the telecom and banking industries to increase their revenues, decrease customer service costs and increase loyalty to existing offerings. For more information, visit www.mobetize.com