MEXICO CITY, MEXICO--(Marketwired - Jan 26, 2017) - QPAGOS (OTCQB: QPAG) announced today the expansion of its self-service payment solutions by MF AMIGA, S.A.P.I. de C.V. SOFOM ENTIDAD REGULADA (AMIGA), one of Mexico's emerging SOFOMs. SOFOMs are non-bank financial entities under Mexican law whose main objective is to provide loans and credits.
AMIGA, with over 54 nationwide branches, through a 3rd party leasing company, completed today the order of 30 additional QPAGOS kiosks for a total of 88 self-service kiosks being deployed across their network. AMIGA customers no longer have to wait in line to make their weekly loan amortizations, and they can also make payments at the kiosks for over 150 service providers in QPAGOS payments platform.
On a visit to a QPAGOS kiosk AMIGA customers can also recharge their mobile phones, pay their electric, water, gas and telephone bills, as well as pay state and municipal services, and purchase movie tickets and many more services.
Additionally, through a new QPAGOS mobile application, AMIGA agents can also accept payments for AMIGA loans at the homes or businesses of AMIGA customers through a tablet or mobile phone device, as well as accept payments to the same portfolio of services available in the kiosk and issue the corresponding printed receipt to the client.
"We believe QPAGOS self-service solutions are ideal to help us grow our customer base, as well as expand the geographic coverage for the benefit of our current and future customers," said Juan Carlos Duarte Osorio, Director General of MF AMIGA.
Added Gastón Pereira, CEO and President of QPAGOS: "MF AMIGA is a market leader in the adoption of technology to improve its range of services and the satisfaction of their customers, and thus differentiate themselves in the market place. The integration of AMIGA payments in QPAGOS platform not only benefits each of their branches, but should also allow AMIGA to expand their national coverage as their payments will be extended to the more than 700 kiosks serviced by QPAGOS across the country. This basically allows AMIGA to compete in a much larger market."
ABOUT MF AMIGA
MF AMIGA, is an emerging non-bank regulated financial entity (SOFOM) whose objective is to offer financial services to low income people without access to commercial banks, allowing them to support their customers with loans that helps them grow their entrepreneurial initiatives. (http://mfamiga.com/)
United States based QPAGOS offers cutting edge digital payment services for consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where 95% of consumer purchases are made in cash. It operates a network of self-service kiosks and applications offering alternative payment more convenient for consumers and a more efficient billing platform for service providers. (www.qpagos.com)
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as "anticipate," "believe," "can," "continue," "could," "estimate, "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the or the negative of these terms or other comparable terminology and include statements regarding the expected contribution of the QPAGOS platform to MF AMIGA and its plans to expand to its national coverage. These forward-looking statements are based on management's expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to assist MF AMIGA in growing its customer base and expanding its geographic coverage, our ability to generate revenue streams from user fees, service provider fees, franchisee fees, rental/management fees and advertising fees and the other risks outlined under "risk Factors" in QPAGOS' Current Report on Form 8-K dated May 13, 2016 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.