By: Matt Rego
Physical and virtual payment services company, QPAGOS (OTCQB: QPAG) is seeing shares stage a decent rally higher on Tuesday, July 19, 2016, rising 11%. The payment services firm normally does not see much volume, as the company has average daily volume of 4,500 over the past three months. However, nearly 94,600 shares of $109,736 in dollar volume has already exchanged hands during the first several hours of trading on Tuesday.
The rally comes after QPAGOS (OTCQB: QPAG) announced the company will be releasing self-serve payment kiosks with Mexican micro-lending company, SOFOM. The kiosks will be featured across SOFOM’s 50 branches and help customers make payments quicker and avoid waiting in long lines. In addition, the company will be releasing mobile application that works with the kiosks and payment as well. Here is press release detailing of the recent deal:
MEXICO CITY, MEXICO–(Marketwired – Jul 19, 2016) – QPAGOS ( OTCQB :QPAG ), a U.S.-based provider of digital payment services for cash based and unbanked consumers in Mexico, today announced the roll out of their self-service payment solutions for a multi-state micro lender, one of Mexico’s emerging SOFOM’s (Sociedad Financiera de Objeto Multiple) that provide loans and credit to Mexico’s largely unbanked population.
The micro lender’s more than 50 branches are being outfitted with QPAGOS self-service kiosks, as well as with the QPAGOS mobile application. Customers are expected to no longer wait in line to make their periodic installments, and while they use the kiosks they can take advantage of the more than 150 bill payments already in QPAGOS platforms.
In one visit to the QPAGOS kiosk, customers can also top up their mobile phone, pay their electric, gas, telephone and water bills, as well as pay for municipal services, entertainment services, transportation, and many more payment services.
Through QPAGOS mobile apps the micro lender can now deploy walk-in representatives as well as loan generators, as they can in person collect the same portfolio of services available in the kiosk and issue the corresponding receipt on the spot.
“This lender is harnessing technical solutions to enhance customer satisfaction as well as differentiate themselves in the market place,” commented Gaston Pereira, QPAGOS CEO. “The integration of their services into QPAGOS payment platform is anticipated not only to benefit each of their branches, but very soon all 700 QPAGOS serviced kiosks in Mexico are expected to receive their loan payments as well as loan applications. This should allow them to compete in a much larger marketplace.”
40 of 56 kiosks have been deployed so far with the balance expected to be deployed by the end of August; while over 20 mobile tablets with printers were deployed with a potential of over 70 deployed by the end of the year.
U.S. based QPAGOS delivers state-of-the-art digital payment services to consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where 80% of personal payments are made in cash. It operates a network of self service kiosks and applications that are designed to provide more convenient payment alternatives for consumers and more efficient billing for service providers. www.qpagos.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate, “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” or “will” or the or the negative of these terms or other comparable terminology and include statements regarding the expected benefits to be derived from deployment of our kiosks and the timing of the deployment of the kiosks and mobile tablets. These forward-looking statements are based on management’s expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to deploy kiosks when expected, our ability to continue to grow and execute our business plan, our ability to generate revenue streams from user fees, service provider fees, franchisee fees, rental/management fees and advertising fees and the other risks outlined under “risk Factors” in our Current Report on Form 8-K dated May 13, 2016 and our other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.