Montreal, Quebec--(Newsfile Corp. - December 23, 2020) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724" or the "Company"), a fintech enabler of AI-enhanced payment card-linked incentives, announces that its wholly owned subsidiary, Mobi724 Smart Transactions Inc. ("Mobi724 Smart"), entered into a 3-year strategic partnership agreement (the "Strategic Partnership Agreement") with Stratus Technologies México S.A. de C.V. ("Stratus"), the parent company of Moneta Technologies, an innovative technology company head-quartered in Mexico and a leader in the provision of electronic payment solutions for financial institutions, retail and telecom industries ("Moneta"), to promote, market, distribute and license the full suite of Mobi724 software solutions ("Mobi724 Solutions") to existing and prospective clients of Moneta in Latin America and Brazil ("Distribution & Licensing Rights").
Moneta will use its extensive and experienced sales force, as well as the Moneta brand, to distribute and license the Mobi724 Solutions in Latin America and Brazil. The Distribution & Licensing Rights granted to Stratus are non-transferable and non-exclusive, except for Brazil where Stratus has been granted an 18-month exclusivity period. The parties will immediately begin work on integrating their respective technology platforms so as to enable the Mobi724 Solutions to be offered to a broad network of clients belonging to Moneta. The Strategic Partnership Agreement sets forth, among other things, each parties' responsibilities as well as the manner in which the revenues, that are generated through their collaboration, are to be shared.
This strategic partnership allows Mobi724 to leverage Moneta's extensive presence in some of the largest countries in Latin America, as well as Moneta's established long-term business relationship with blue chip brands in the financial and retail industries, to accelerate Mobi724's sales in the region. Moneta, in turn, will be able to offer innovative payment card-linked solutions to its clients, as an integral part of its advanced multifunctional payment processing platform.
Juan Pablo González Gasque, General Director of Moneta and President of Stratus said: "We recently launched a new business unit called Moneta Digital, which created as an agent of change to modernize the financial ecosystems in Mexico and the rest of Latin America. Mobi724's solutions are perfectly aligned with this philosophy."
Marcel Vienneau, CEO of Mobi724 said: "Moneta, a recognized leader in the industry, has built a powerful presence across Latin America including Brazil, and we are looking forward to working together with them in their modernisation effort and to accelerate Mobi724's sales & the commercialisation of its platform."
About Moneta Technologies
Moneta Technologies is an innovative technology company, an expert in electronic payments, business intelligence, artificial intelligence, cybersecurity, and data processing, dedicated to the development of technology infrastructure projects for financial institutions, retailers and telecom operators. Moneta recently celebrated its 25-year anniversary. Over the years Moneta has gained the confidence of its long-time clients such as: American Express, Banco Azteca, e-Global, HEB Supermercados, Inbursa, IPAB, Sanborns and Telmex, among others. Moneta operates across Latin America and has offices in Brazil, Colombia, Costa Rica and Mexico.
For further information about Moneta, please visit https://moneta.com.mx/
About Mobi724 Global Solutions Inc.
Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company which provides a platform, that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.
Legal Disclaimer
Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute a solicitation to buy or sell any securities in the United States.
Investor Relations:
For further information, please visit www.MOBI724.com or contact:
Allan Rosenhek, CFO
Mobi724 Global Solutions Inc.
T: 514-394-5200 ir@mobi724.com
Eli Rozhansky, Investor Relations Coordinator
Mobi724 Global Solutions Inc.
T: 514-394-5200 ir@mobi724.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70858
