First Global Data Ltd FGBDF

JUST ANOTHER REASON TO BUY--FGD RULES WITH THE CHINESE

[banx]

The comments by the two head guys says it all:

According to Mr. Xiong, the president of China Smartpay Group Holding: "Chinese outbound tourism will continue to experience consistent rapid growth. In 2016 Chinese outbound tourists spent $216-billion (U.S.), of which the United States accounted for $120-billion (U.S.). This shows that the North American market is one of most important destinations for Chinese tourists. This growth is being aided by the rapid development of Chinese financial technology along with overseas partnerships to reach Chinese tourists outside of China. China Smartpay Group Holdings Ltd. is a Hong Kong-listed company which is engaged in smart payment and Internet finance. In China, the company owns the nationwide prepaid card licence, an Internet payment license and the leading smart PO S technology systems. It has built an industry-leading team and technology, and has aligned with strategic partners to become an industry leader. China Smartpay Group has accumulated rich experience in Internet payment and mobile payment solutions and is partnering with First Global Data for its leading technology, licences, and wide payment network and capabilities in North America to carry out the North American market mobile payment business." 

"We are very pleased to be partnering with China Smartpay. China Smartpay is a highly respected organization and we have developed a strong level of respect and trust for each other. First Global and China Smartpay will jointly deliver cross-border and other payment services to address these significant needs and growing market opportunities. We intend to leverage China Smartpay's strength and licences in China to originate transactions from China, couple that with First Global's overseas licences and cross-border payments capabilities to ensure compliant cross-border transactions, and First Global will terminate these transactions to beneficiaries which are individuals and retailers outside of China. We believe that the combined strengths of both companies will position us well to capture market share in this sizable and expanding market," said Andre Itwaru, chairman and chief executive officer of First Global Data.