First Global Signs LOI with Zoompass

First Global Data (TSXV:FGD) has engaged in a Letter of Intent with Zoompass, a wholly-owned subsidiary of Zoompass Holdings Inc, and an OTCQB listed company.

As quoted in the press release:

The companies intend to work together on a variety of initiatives including a) Jointly offering check 21 transaction processing services in the USA for Zoompass and First Global customers. Zoompass estimates the monthly processing volume for its client base to be in the $50 million range; b) Zoompass leveraging First Global’s US licenses and compliance capabilities to penetrate specific target demographics for cross border payment services; c) First Global utilizing Zoompass’ US prepaid card issuance capabilities to offer prepaid cards to its customers; and d) First Global leveraging the relationship Zoompass has with Canada Post to enable loading of First Global mobile wallets at approximately 6000 Canada Post and Shoppers Drug Mart locations across Canada.

Click here for the full press release.

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