SOURCE: WikiTechnologies, Inc.

WikiTechnologies, Inc.

March 24, 2015 08:00 ET

WikiTechnologies & Muthoot Group Announce Agreement to Open US/India Payment Corridor

BOSTON, MA--(Marketwired - Mar 24, 2015) - WikiTechnologies, Inc. announces its agreement with Muthoot Group of India, to open a US/India payment corridor by leveraging the power of its WikiPay platform. Under the agreement Muthoot will market the WikiPay platform first to its 22,000 employees and then to its 6 million customers in India. The marketing program is intended to encourage friends and family residing in the US to use the WikiPay mobile and online platforms to send payments to more than 8,000 cash pick up locations or to any bank in India. 

The new association with WikiTechnologies will expand Muthoot Group's reach to 49 United States, while allowing WikiTechnologies to leverage the international money transfer license of Muthoot's wholly owned subsidiary, Royal Exchange USA, for transmissions to India.

WikiTechnologies' Co-founder and President, Ted DeFeudis said, "This agreement is a very important step in the evolution of WikiTechnologies into a company focused on serving the needs of enterprise level organizations. We're very pleased that Muthoot gave us this vote of confidence and are looking forward to a healthy and profitable relationship for years to come."

About WikiTechnologies

WikiTechnologies, Inc. is a privately held technology company. The Company provides best-in-class mobile and online financial services to enterprise level corporations and government organizations. WikiTechnologies is comprised of (i) WikiPay, a Money Services Business, which provides a simple, low-cost alternative to existing mobile and online payment solutions; and (ii) WikiLoan, which provides a low-cost peer-to-peer lending solution.

WikiPay is a money transfer and payment network, built from the ground up, by a team obsessed with privacy and security. Since 2009, streamlining its technology and adding partners to expand its reach and usability have constantly improved the platform. Today, the ultra-secure platform allows anyone to send or receive money anytime, anywhere on any device to over 50 countries across the globe.

WikiPay, a money services business, is an authorized delegate of PreCash, Inc.

About Muthoot Group

The Muthoot Group is a diversified business conglomerate that has been serving India for over 127 years. The formidable business empire comprises of 17 divisions including Financial Services, Plantations & Estates, Education, Leisure & Hospitality, Healthcare, Housing & Infrastructure, Infotech, Wealth Management, Money Transfer, Forex, Media, Power Generation, Precious Metals, Securities, Vehicle & Asset Finance, Travel Services, Muthoot Global and Muthoot Money. Headquartered in Kochi and having its Corporate Office in New Delhi, the company has a dominant presence in over 21 states & 4 Union Territories of India. It also has presence in USA, UK and UAE.

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