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Miami, FL, June 22, 2022 (GLOBE NEWSWIRE) -- OM Holdings International Inc. (OTCQX: OMHI) today announced a licensing agreement with IYAP, LLC the owner of the Liquid Cash fintech platform. This license agreement will leverage the existing FDIC banking partners of LiquidCash to allow the API integration of mobile banking into the DoGetGo super app. This integration will allow OM Holdings International to offer banking, money transfer, and cryptocurrency services through partnerships with licensed service providers. OM Holdings International intends to utilize licensed service provides to launch DoPay within the DoGetGo super app in the upcoming months.
DoPay will use next generation electronic Know Your Customer (eKYC) powered by face verification and Artificial Intelligence (AI) for identity confirmation and fraud prevention to offer mobile banking to Caribbean customers. Under eKYC, face verification plays a vital role in detecting facial features and matching them with the data records. In addition, AI’s in-built analytics of trained models enable banks to detect fake images and provide in-depth insights to prevent fraud.
Mark Vanterpool, President and Chairman of OM Holdings International, Inc., stated, “We are excited to provide this unique service to our customers, all of which makes buying things in person or online a seamless and secure process. We believe DoPay combined with the DoGetGo super app will be a leading financial processing platform that can be used for various products and services throughout the Caribbean.”
DoPay will run on the Liquid Cash platform allowing users to access:
Virtual Debit Card
Real-Time International Money Transfers with Minimum Fees
Vendors that onboard to the DoGetGo Platform will now have access to U.S. banking and merchant services to accept credit card payments
Users will be able to transfer cash between other DoPay users in real-time like Cash App® or Zelle®.
DoPay will allow OM Holdings International to benefit from the $2.9 billion remittance market in Jamaica. Remittances contribute to over 15% of Jamaica’s GDP.
“Most residents still find it difficult to send and receive money due to the archaic money transfer establishments. With our new license agreement, users will be able to send money with ease. Currently the Caribbean market does not have access to Cash App or Zelle due to banking and technology limitations. Using next generation eKYC powered by facial verification and Artificial Intelligence, OM Holdings International aims to make DoPay the Cash App and the Zelle of the Caribbean. We are planning to launch DoPay in Jamaica at the end of this year and in other Caribbean islands in the next calendar year,” concluded Mr. Vanterpool.
About OM Holdings International, Inc.
OM Holdings International, Inc. operates delivery services and grocery stores in the Caribbean, with a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OHMI's delivery subsidiary, Rydeum, has partnered with Jamacia’s largest taxicab union, JUTA. The company also provides lumber and other construction supplies to contractors throughout the Caribbean.
For more information, please visit https://omholdingsinc.com/.
Liquid Cash, powered by iYap, is a financial technology company that offers a variety of services such as digital payments, crypto, mobile banking, deal promotion, and streaming entertainment within its super app. Liquid Cash offers customers state-of-the-art features such as – contactless checkout, currency exchange, debit cards, virtual cards, in-app shopping, concert/sports/theater tickets, bill pay, instant chat and more. iYap is the backend software provider, and partners with financial institutions to provide digital payments and FDIC insured banking services.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
DoGetGo super app