Upco International Inc. (CSE: $UPCO.C) (OTCQB: $UCCPF) (FSE: U06) Announces Emoney Strategic Contract for eWallet Integration
Vancouver, British Columbia - September 25, 2018 (Investorideas.com Newswire) Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) ("UPCO") is pleased to announce that it has signed an agreement with Emoney plc www.emoney.com.mt to support Upco's monetary payment and transfer services within Europe. Emoney is a Financial Institution, licensed in Malta with a European Passport, and has a decade of proven management experience in the world of electronic money, issuance of online current accounts and issuance of rechargeable credit cards.
Under the model, Emoney will act as Upco's banking institution partner, extending the reach of the Upco App across Europe for Debit and Credit transactions, and ensuring full compliance with relevant regulatory frameworks within the European banking community. User onboarding, including ID authentication, will be handled by Emoney. Upco presently has an agreement in place with Transfer-To www.transfer-to.com which enables money transfer to a Mobile SIM of any user in the world. Emoney will issue a sub-license to contract with Transfer-To regarding cross-border transfers. Upco has recently initiated a project to integrate with Emoney via an API.
With the Emoney integration into our eWallet, Upco is ready to commence a European marketing plan for a convenient, robust, and secure financial solution, which will provide Upco users with:
- A Bank account for transfer and receipt of fiat currency from/to their eWallet;
- A debit Mastercard to use as an extension of the eWallet to pay any approved Mastercard merchant worldwide;
- Access to money on a 24 x7 basis, year-round.
According to Statista, in 2018, global transaction volume in the mobile point-of-sale payments space is expected to reach US$391 billion and projected to increase to over US$1.3 trillion by 2022.
Mr. Andrea Pagani, CEO and President commented: "Upco's relationship with Emoney, leveraging our existing contract with Transfer-To, represents a major milestone in deployment of a full-featured mobile payment and transfer application within our E-wallet, while ensuring full regulatory compliance. We are very excited to see this moving forward, commencing with integration to eMoney, currently underway, as an important foundation."
About Emoney Plc
Emoney issues and acquires electronic money, builds innovative tools for payments and creates networks between the biggest European players, the networks and the points of sale.
Emoney, Licensed in Malta, is authorised by the Malta Financial Services Authority MFSA (www.mfsa.com.mt) in 2013. The Financial Institution with an extended portfolio owns all the opportunities and permissions in accordance with the European Community. Emoney relies on a proven decade of experience in management in the world of electronic money, issuance of online current accounts and issuance of rechargeable credit card. The objective of the Institution is the creation of an extended network to all of the European Community countries through partnerships which are already well established in the commercial sector and micropayments.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
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