Migom Global Corp. (MGOM)

[MegaDeath]

Migom Global Corp. Launches its Private Closed-Loop Payment System at Migom Bank

Press Release 03/22/2021

Migom Global Corp. (OTC: MGOM), via Migom Bank®, brings MigomPay its innovative Closed-Loop QR Code Payment System to market, further expanding the service footprint and allowing the Company to access a key growth segment.

Closed-loop payment systems remain a key growth area in financial service provision. According to US market research company eMarketer, mobile payments increased by 41% in the US alone in 2018-19. Against this backdrop, corporate entities may adopt a competitive approach to retain and entice their customer base. The Companys wholly-owned subsidiary, Migom Bank can enable point of sale and online merchants to operate the closed-loop model based on secure QR Code-based payments.

Merchants and customers should be enticed by the incentives that our QR Code closed loop payment systems can offer. There are no chargebacks, long held reserve funds, equipment rentals, delays in funds settlement and the very high fees typically associated with usage of traditional payment cards online and in brick and mortar shops, stated Georgi Parrik, the CEO of the Company. Furthermore, merchants may be awarded with additional residual income when their customers, who started to use our QR Payments, engage in other banking services, which we may offer. That way a heavy expense item, when merchants give away up to a quarter of their profit for payment processing, may become an additional revenue center for the merchants for the life of those customers accounts at Migom Bank.

The Company has invested in the development of its own software supporting the QR closed loop payment system and expects to gain significant traction with merchants and customers globally due to our customer first design and rigorous, yet agile approach to compliance in unbanked markets. We are looking at the opportunities to implement this system tentatively named MigomPay in test markets in the Caribbean and the Middle East.

https://www.otcmarkets.com/stock/MGOM/news/Migom-Global-Corp-Launches-its-Private-Closed-Loop-Payment-System-at-Migom-Bank?id=294568