CALGARY, ALBERTA and PALO ALTO, CALIFORNIA--(Marketwired - Oct. 10, 2014) - Payment Processing specialist Vogogo Inc. ("Vogogo") (TSX VENTURE:VGO) today announced a signed agreement that will provide its customers access to the Interac Online payment network.
Interac Online is a transfer and payment service made available to Canadians who bank online with Canada's largest banks: BMO, Scotiabank, TD Canada Trust and RBC Royal Bank. It has recently gained traction as a popular method of making fiat payments in Canada. This integration adds Interac Online as an option in Vogogo's suite of fiat payment services providing additional flexibility and convenience in the overall service offering.
Vogogo anticipates the release of the Interac Online option to take place during Q4 2014 and expects to leverage the agreement for Interac acceptance as it expands throughout Europe where similar bank-authenticated payment systems are prevalent.
Vogogo CEO Geoff Gordon said of the announcement, "We are very happy to secure the Interac Online fiat payment method. Historically, this service did not play a large role in our strategy but we are focused on emerging markets and they often change quickly. We take great pride in our ability to adjust and efficiently meet our client's business needs. This agreement not only enhances our current offering but it also plays a role in how we effectively execute our expansion strategy throughout North America and Europe in the coming months."
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded payment services company with integrated risk management and compliance. Founded in 2008, Vogogo designed, built and launched their web-based payment processing technology while growing their expertise in software development, payments, risk management, compliance and related financial services. Vogogo is now executing on its plan to sell to global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its positioning and technology. To date, Vogogo has successfully processed more than $1B in U.S. and Canadian payments.
For further company information please view the Vogogo Media Kit.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release contain forward-looking information including, without limitation, timing for integration and release of the Vogogo platform with Interac Online and expansion plans of Vogogo. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
Third Party Information
Certain information contained in this press release is based upon information from press releases, independent industry and other publications and websites. None of these sources have provided any form of consultation, advice or counsel regarding any aspect of, or is in any way whatsoever associated with Vogogo. Actual outcomes may vary materially from those forecast in such press releases, reports or publications, and the prospect for material variation can be expected to increase as the length of the forecast period increases. While Vogogo believes this data and information to be reliable, such data and information is subject to variations and cannot be verified with complete certainty. Vogogo has not independently verified any of the data or information from third party sources referred to in this press release or ascertained the underlying assumptions relied upon by such sources.