VANCOUVER, British Columbia, March 24, 2017 (GLOBE NEWSWIRE) -- Mobetize Corp. (OTCQB: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 the expansion of its B2B Data Top-up/Gifting service to India with smartCharge.
What is mobile internet data?
Whenever you use the internet on your phone, you're using data.
Whether using Facebook, browsing the web, sending an email, Tweeting, watching a video on YouTube or listening to music; data is being consumed.
Global operators struggle to manage increasing demand for data traffic on their networks as the traditional air time top-up model is challenged by the millions of people who use FaceTime, Skype, Snapchat, or Facebook to communicate. Mobetize’s Fintech as a Service Hub provides operators a proprietary solution that gives consumers access to the data they need to communicate.
smartCharge empowers companies to offer their customers the ability to top-up or gift air time to friends and family around the world through a network of over three hundred and fifty global carriers.
smartCharge’s newest feature gives users the ability to gift data across carrier networks worldwide. Mobetize now offers this service in India.
“We saw the opportunity to provide air time and data top up services around the world. India represents a very exciting corridor for these services as it is at the forefront of exponential digital economic growth. This expansion is an important milestone for Mobetize as an emerging market leader for digitized data consumption and gifting,” stated Ajay Hans, CEO Mobetize.
Mobile data traffic is expected to increase by 800% on a global basis within five years.
During 2016 alone, India experienced significant growth in mobile traffic – up 76% from last year, and by 2021, consumer mobile traffic in India will grow 7.4-fold at a Compound Annual Growth Rate of 49% year over year. Much of this growth will be fueled by pervasive consumer adoption of smartphons, smart devices and the use of machine-to-machine connections with an estimated 1,380 million mobile-connected devices by 2021.
A new study from Juniper Research has found that international remittances, including airtime top ups via mobile phones, will exceed $25 billion by 2018, up 67% from an estimated $15 billion in 2015.
About Mobetize Corp.
Mobetize Corp. (OTCQB: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.
Forward Looking Statements
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.
Mobetize Corp. Investor Relations 778-383-4013 firstname.lastname@example.org.
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