News Press Releases

First Global Obtains New US State License and Launches Artificial Intelligence Unified Chat Interface for Mobile Payments

FGBDF | June 28, 2017

Canada NewsWire

TORONTO, June 28, 2017

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTO, June 28, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to advise that its wholly owned US subsidiary, First Global Money Inc., has obtained its Money Transmitter license for the State of Michigan, USA.

First Global Data Limited (CNW Group/First Global Data Limited)

According to Wikipedia: "Michigan is the tenth most populous of the 50 United States ." With the ongoing license application process, the Company is working toward being licensed in all US States by the end of Q3 2017.

The Company is also pleased to announce that it has enhanced its mobile payment offering by adding a unified chat interface for transactions. This is a high level artificial intelligence capability wherein words and abbreviations are interpreted so customers can "chat to transact".

Artificial intelligence is part of the new technology wave as exemplified by Google, Amazon and Apple who have created their own version of a virtual assistant. Our chatbot will offer a single chat window interface for ease of use thereby saving time and offering convenience. Chatting will enable the completion of numerous tasks.

Customers in India are now able to perform the following services through this interactive chat response capability:

P2P Transfer
Mobile Recharge
Bill Payments
Bus Ticketing
Cab Booking
Hotel Booking
Air Ticketing
Offers
Food Ordering
Home Services such as Laundry
Events & Activities
Rail Ticketing
Rail Food Ordering
Healthcare- Doctor Appointments & Medicine Delivery
Movie Ticketing
Home Services – Repairs, Handyman, Beauty Services

First Global will add this artificial intelligence for "chat to transact" capability to its other international mobile payment deployments.

"The addition of the Michigan license is an important milestone for the Company as it is the first new license obtained since our decision to refocus on expanding our reach across the USA. Our Compliance team continues to work closely with our US regulators with the objective of achieving full coverage across the USA this year. Each new license provides the opportunity for our Company to increase transactional revenues. We are also very pleased with the addition of the interactive chat service to our mobile platform. This service equips us to more aggressively penetrate the huge population of social messaging users which has been a key part of our going forward strategy", commented Andre Itwaru, Chairman and CEO of First Global.

About First Global: (www.firstglobaldata.com)

First Global is an international financial services technology ("FINTECH") company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ("P2P"), Business to Consumer ("B2C"), and Business to Business ("B2B") payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

Caution:
Neither TSX Venture Exchange Inc. ("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 release.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE First Global Data Limited