MOBI724 Signs an Agreement With Fexco in the Philippines

Mobi724 Global Solutions (TSXV:MOS) announced that its Asian subsidiary MOBI724 Asia has signed an commercial agreement with Phillipines branch of Fexco.

Fexco is an international fintech and payments company headquartered in Ireland while Mobi724 is a Fintech leader offering all-in-one and fully integrated EMV payment, card linked offers, digital marketing and business intelligence solutions.

As quoted in the press release:

Under the terms of the agreement, cash withdrawal transactions from Fexco’s EasyDebit MicroATM (“EasyDebit”) terminals will be processed via MOBI724’s gateway and processing switch (Virtuo®) in over 450 locations across the Philippines.

Through this collaboration, Fexco and MOBI724 can offer more robust and scalable processing of cash out transactions further promoting financial inclusion across the country.

Ann Chan Foley, CEO of Fexco Philippines Inc., said, “Extending our partnerships with innovative and forward-thinking providers like MOBI724 helps us to reach even more underserviced ATM and debit card-holders across the Philippines.”

Marcel Vienneau, CEO of MOBI724, said, “MOBI724 is committed to expanding its EMV payment processing presence in the Philippines and Asia Pacific by adding partners such as Fexco.    This agreement serves to solidify our base in the region. Our innovative solution enables full ATM functionality directly at POS, whereas in rural/remote areas in the country the cost of operating ATMs is too expensive, and customers sometimes have to travel long distances to get access to cash. MOBI724’s technology facilitates cash liquidity while promoting banking services. We are pleased to see that our technology is valued and implemented by globally reputable and well-established companies.”

Click here for the full text release.