Mobetize Corp. (OTCQB: MPAY) is engaged as a mobile financial services and fintech company. Shares of the financial services company are jumping 35.42%, through afternoon trading on Monday, February 27, 2017. Over the past month, Mobetize Corp. has seen average daily volume of 15,862 shares. However, volume of 517,779 or dollar volume of $162,116, has exchanged hands through Monday trading.
Shares of Mobetize Corp. are soaring Monday, after the company announced that it has appointed Adam Atlas to the company’s Board of Directors. Atlas heads his own law firm, Adam Atlas Attorney at Law, and specializes in digital payment and merchant activities laws. Here is the press release detailing of the recent appointment to the board:
Mobetize Corp. Press Release:
VANCOUVER, British Columbia, Feb. 27, 2017 (GLOBE NEWSWIRE) — Mobetize Corp. (MPAY), a provider of mobile financial services (“MFS”) technology for the multi-billion dollar business to business (B2B) segment of the Fintech as a Service (“FaaS”) sector is pleased to announce that Adam Atlas was recently appointed to Mobetize’s Board of Advisors.
Mr. Atlas leads the firm Adam Atlas Attorney at Law http://adamatlas.com. His firm advises principally on matters of law pertinent to electronic payments and merchant transactions.
Mr. Atlas holds a Bachelor of Civil Law, Bachelor of Common Law and a Bachelor of Arts in Political Science, with Honors, from McGill University and has been a member of the New York State Bar and the Province of Quebec Bar since 1998. His professional memberships include the American Bar Association and the New York State Bar Association. Prior to forming his own boutique payments practice in 2003, Mr. Atlas practiced corporate law at Stikeman Elliott, an international business law firm. He has also served as an early director of leading payments companies, Versapay Corporation and Payfirma Corporation.
Mr. Atlas provides open source legal information concerning U.S. payments compliance at http://fintech.law. He is also the founder of http://msbstatus.com, a Regulatory Technology (“RegTech”) start-up that provides comprehensive MSB licensure and registration information.
Mr. Atlas also provides legislative review and updates for The Money Services Business Association or MSBA, a U.S. trade association focused on the non-bank money services industry. The MSBA was started to establish an industry led organization to support the non-bank financial services industry. Today the MSBA encourages innovation and development in the payments industry while promoting education and communication with Federal and State Regulators.
“There is a gap in the market today between the abundant creativity of Fintech start-ups and the conventional mechanisms of banks. As the rails of the financial system, banks are entitled to demand a certain level of technical security and sophistication from their Fintech start-up partners. Mobetize fills that gap. Having supported hundreds of Fintech start-ups, it’s a pleasure for me to advise Mobetize, an important link between Fintech business and traditional financial infrastructure,” said Adam Atlas on accepting his advisory role.
“As Mobetize experiences growing global demand for its FaaS platform http://mobetize.com/fintech-news/, Adam is a key addition to our team of industry thought leaders who will ensure that we implement agile RegTech standards to manage risk and automate compliance requirements for Mobetize clients and partners,” stated Ajay Hans, Chief Executive Officer.
About Mobetize Corp.
Mobetize Corp. (MPAY) has developed a global B2B Fintech as a Service (FaaS) Supermarket. Mobetize digitizes bricks and mortar financial services to deliver mobile money services to leading telecommunications companies and financial institutions. Mobetize ensures end-to-end integration for services such as prepaid air-time top ups, data gifting, mobile lending, international money transfers, P2P transfers, Visa™/MasterCard™ programs and mobile bill payments. Mobetize seamlessly integrates and white labels its secure mobile money platform services for customers who then offer the services to millions of users. Mobetize experts help telecom and banking providers discover new revenues, new customer relationships and navigate the emerging Fintech ecosystem. For more information, visit http://www.mobetize.com
This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning Mobetize’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of Mobetize and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for Mobetize’s products or in the supplier costs; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in Mobetize’s previous filings with the Securities and Exchange Commission. Mobetize disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.