MONTREAL, QUEBEC--(Marketwired - March 10, 2015) - Mobi724 Global Solutions Inc. ("Mobi724" or the "Company") (CSE:MOS), formerly Hybrid Paytech World Inc. (CSE:HPT), a technology leader in digital incentives, couponing and mobile payment solutions, announced today a successful reinstallation of its infrastructure in Manila, Philippines. The server is back in operation with all the critical security that is required by debit and credit card transactions. Moreover, Mobi724's solution is fully redundant to insure even greater reliability. Within a week, Mobi724's solution was back up and running, which confirms that Mobi724's business model is scalable on a worldwide basis.
"I am delighted that our staff in Montreal and Manila, along with our partners, were successful in installing our fully functional solution in a state-of-the-art bank compliant data center," said Marcel Vienneau, CEO of Mobi724. "We have a very strong sales funnel in the region and our customers are eager to get started." He added, "All this region will be served by our affiliate Mobi724 Asia Inc. in downtown Manila. We are no longer associated in any manner with Hybrid Paytech Asia. This is a very important milestone for the company as we are focused on generating revenues."
Mobi724's solution will serve its customer base in the Philippines, which includes Telco, banks, Automatic Teller Machine (ATM) vendors, E-Commerce, E-Wallet and couponing services. Mobi724 is able to process multiple payment cards such as Visa, Mastercard and Amex, as well as debit and private label loyalty cards.
Mobi724 also completed a fourth tranche of private placement in the amount of $52,500. This is part of the $3,000,000 debenture financing previously announced on October 30, 2014 of which, $ 1,797,500 has been attained with the current closing. The Convertible Debentures mature on December 31, 2015 (Maturity Date) and will accrue interest at a rate of 10% per annum. The Convertible Debentures shall be convertible at the option of the holder into common shares of the Company on or prior to the Maturity Date at a conversion price of $0.35 per common share. The common shares issuable upon conversion will be listed on the CSE. The Company has also issued 107,143 common shares at $0.35 per share in consideration for the payment of outstanding debt.
About Mobi724 Global Solutions
Mobi724 Global Solutions (CSE:MOS), formerly Hybrid PayTech World Inc. (CSE:HPT), a corporation based in Montreal, Canada, is a technology leader in digital incentives (such as mobile couponing and loyalty rewards) and payment solutions (including mobile payment).
Mobi724 Global Solutions unleashes the true potential of both payment and couponing/rewards transactions for both online and offline points of sale.
The company is fully dedicated to deliver unique "real time" and seamless digital promotional incentives (coupons, bank cards, loyalty rewards) embedded into the most secured payment environment. The company provides to its customers full and comprehensive traceability and enriched consumer data through its offering. Its solutions enable retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and "track and measure" incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Mobi724's credit and debit payment solutions, focusing on authentication, approved security and quick merchant adoption, allows users to process payments with a wide range of devices over a secure and seamless transaction.
The company's PCI and EMV cloud-based switch, with device agnostic connectivity, simplifies deployment and integration, plus introduces new payment and couponing solutions to the market.
Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United States.