First Global and Selectcore Form JV to Create a Full Suite Fintech Business Model

First Global Data Limited (TSXV:FGD) is pleased to announce that it has entered into a Letter of Intent to create a Joint Venture with Selectcore Limited (TSXV:SCG). The JV will combine the synergistic assets of both organizations to offer a full suite of payment services unmatched in the Canadian marketplace, including prepaid card, mobile, online and international payments.
As quoted in the press release:

The JV will be limited to the Canadian marketplace and will focus on providing governments, retailers, banks, telecom companies, and other strategic partners and clients with a wide spectrum of payment capabilities.
First Global will inject CDN $600,000 of float capital as required, and shall own 51% of the JV. Revenues will be shared between the two companies on a 50/50 basis.

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