MPAY

Mobetize Corp.

 
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OTCQB
 

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Mobetize Reports Quarterly Revenue Growth and Provides Ongoing Business Update

Dec 22, 2016

OTC Disclosure & News Service

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VANCOUVER, British Columbia, Dec. 22, 2016 (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, confirms that revenues generated during the three month period ending September 30, 2016, were $216,248 as compared to revenues of $140,630 during the previous three months and $7,707 during the same three month period in 2015.

Revenue Model and Ongoing Business

Mobetize revenue is generated through licensing, consulting and transactional processing of financial services through the Mobetize Global B2B Fintech as a Service Supermarket (the “Hub”) to global telecom operators and financial institutions (FI’s).

Telecoms  and FI’s are choosing the Mobetize Hub as their core Mobile Money Enablement platform and as commercial partners. Mobetize expects to realize significant transactional revenue growth from these relationships.

We continue to work with Tata Communications Canada Ltd. (“Tata”) to develop and power its Mobile Money Enablement strategy and roadmap, including marketing and customer onboarding strategies for its B2B Fintech model. We have revised our previous revenue forecast and expect transactional revenues to commence as the result of a commercial relationship with Tata in our 4th fiscal quarter ended March 31, 2017.

In September 2016, Mobetize entered into a partnership agreement with G&F Financial Group (“G&F”), one of the ten largest credit unions in British Columbia; to jointly develop and market “Mobetize smartLoan” a digitized lending platform. Testing and roll out of the live production smartLoan platform is expected to commence in Q1, 2017. We anticipate the product roadmap with G&F to expand with the application of other Mobetize products and services.

Mobetize is currently in discussions with financial institutions in Canada and the United States to expand the smartLoan platform to more prospective users.

About Mobetize Corp.

Mobetize Corp. (OTCQB:MPAY) has developed a global B2B Fintech as a Service (FaaS) Supermarket. Mobetize digitizes brick 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 to 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 info@mobetize.com

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