First Global Signs MOU to Deploy Services in Bangladesh

First Global Data (TSXV:FGD) is pleased to announce it has entered into a Memorandum of Understanding to deploy its mobile payment services in Bangladesh with strategic partner Aamra Payment Solutions, a division of Aamra Group. Aamra has significant penetration, having deployed 14,000+ active Point of Sale terminals and currently holds a market share of 75 percent, as Aamra solutions are preferred by 14 out of 17 leading banks and financial institutions in Bangladesh.
As quoted in the press release:

The Bangladesh initiative with Aamra includes a full roll-out of the mobile wallet in Bangladesh with an ecosystem and marketplace for consumers to purchase various goods and services using their mobile phones. The model will be similar to that deployed by the Company in India. Aamra and the Company will work together to bring on strategic partners such as banks and telecom companies, and to penetrate the existing Aamra customer base.
“Aamra is a powerhouse and leader in the technology sector in Bangladesh. Their already established point of sale distribution network and banking relationships will enable us to penetrate the Bangladesh market rapidly and to drive good profitable revenues,” said Nayeem Alli, Chief Financial Officer of First Global.

Click here for the full text release.