Zoompass Holdings Inc.

Zoompass Holdings Inc.

May 08, 2017 09:25 ET

Zoompass Announces Corporate Update

TORONTO, ONTARIO--(Marketwired - May 8, 2017) - Zoompass Holdings Inc. ("Zoompass" or the "Company") (OTCQB:ZPAS) is pleased to announce the following update on the Company's business and information objectives going forward.

The Company is pleased to announce that through an existing sales agent agreement, it expects to receive commissions through an initial purchase order under the program for delivery of mobility products of just over 6,000 units. Additionally, the Company is also pleased to announce that through a separate agency agreement it expects to receive commissions through a commitment of 5,000 wireless routers over a 12 month period.

In a separate transaction, Zoompass has delivered 50,000 prepaid cards through its distribution partner to select retail locations as a result of satisfactory demand from the initial program launch. Additionally, the Company is pleased to announce that it has invoiced for a unique new program for a national consumer brand with an initial commitment of just over 50,000 cards, which is envisioned to utilize the Company's financial platform.

Steve Roberts, President, commented, "We are extremely delighted in the advancement of our mobility products solutions and believe the Company is well positioned to take advantage of seasonally stronger sales in the second half of the year. We are also extremely pleased with the developments on the prepaid cards solutions and look forward to the additional revenues generated from the additional prepaid cards entering into the marketplace."

About Zoompass Zoompass Inc. is a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions. In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. Zoompass's mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings. For more information about Zoompass, visit www.zoompass.com.

Safe Harbor:

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Forward-looking statements made in this press release generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may", "will", "could", "should", "project", "expect", "believe", "estimate", "anticipate", "intend", "continue", "potential", "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors a general economic conditions, the fulfillment of sales orders, delivery of product, the impact of legislation and the competition within our industry.

Contact Information

  • Zoompass Holdings Inc.
    Rob Lee, Steve Roberts, Brian Morales