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SmartCard Marketing Systems Inc (OTC: SMKG) Announces Up-list to OTCQB & Enters LOI to Acquire bigger Stake in Xpay.World Singapore
SmartCard Marketing Systems Inc (OTC: SMKG) Announces Up-list to OTCQB & Enters LOI to Acquire bigger Stake in Xpay.World Singapore.
About this update from Smart Card Marketing Systems, Inc.
[{"type":"text","content":"\n New York, NY, Aug. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SmartCard Marketing Systems Inc (OTC: SMKG) announced today its new status change up-list to OTCQB & Letter of Intent to acquire a bigger stake in its minority interest company in Singapore Xpay.World with its wholly owned subsidiary in the Philippines.  SMKG Noteworthy: Recent spotlight has been focused on the company's LATAM expansion with Xcoop, Compuage Infocom India distr. partnership, Visa Everywhere Fintech interoperability, Mumbai Gov't Fintech JV, Axepay FX Cross-border Payment Rails, Chat Bot AI code library acquisition, OriginatorX - Ethereum Token Issuing and Xpay Payment minority ownership. The significance of this enhancement to the relationship is driven both by the overall strategy for global markets and the unique offering underway by both companies set to launch a Payment Solution for the Philippines market – the branding and rollout to be announced in the following weeks. The solution will be the white labels of Genorocity marketplace for Merchants and Consumers with Mobile and Web Wallet, Qr.guru E-commerce, Granularchain Digital-ID and Mitckets.events to complete the ecosystem offerings.  Gov Daswani, XPAY’s Chief Strategist, adds, “As an economy that is run by a set of multi-sectoral legacy conglomerates trying its hardest to catch up with the technological demands created by COVID-19, the Philippines is fertile ground for large-scale digital transformation. The unique SMKG/XPAY collaboration answers this demand like no other through the speed, efficiency, and white-label ready nature of its global platforms.” Undertaking of the Letter of Intent Sevastian Romberg, CFO of XPAY, indicates, “The terms of the LOI provide both companies with the necessary time to establish an evaluation practice to achieve a mutually agreed upon valuation for the share swap. Additionally, XPay has agreed to a No Shopping clause throughout the process. However, in the event third parties demonstrate an interest, both SMKG and XPAY may mutually agree to entertain candidates.\" The CEO of SMKG, Massimo Barone, stated, “It’s truly an exciting time for us at SMKG as we have completed many milestones commercializing our FinTech and PayTech portfolio, including licensing of white-label ...