Business
Zoompass Provides Update on Its Mobility Solutions Program
Zoompass Provides Update on Its Mobility Solutions Program.
About this update from Zoompass Holdings Inc
[{"type":"text","content":"\n \n \n Zoompass Provides Update on Its Mobility Solutions Program\n \n \nZoompass Provides Update on Its Mobility Solutions Program\n \n TORONTO, ONTARIO--(Marketwired - Nov 6, 2017) - Zoompass Holdings Inc. (\"Zoompass\" or the \"Company\") (OTCQB:ZPAS) is pleased to announce the following update on the Company's business and information objectives going forward.\n The Company, through a wholly-owned subsidiary, has secured purchase orders and issued invoices valued at approximately C$740,000. Of this amount, approximately C$45,000 is expected to be recognized as gross revenue during the period ended September 30, 2017, with the balance to be recognized during the Company's fiscal fourth quarter(i). The purchase orders are subject to certain standard risks, including the delivery of mobile devices, which is expected to occur during the fourth quarter of 2017(ii). These are initial orders and the beginning of what the company expects to be a steady line of revenue within its mobility devices group. Collectively these orders are for approximately 4,875 units across the Company's various product offerings and to its various distribution partners, including iOnetek Inc., a Canadian private distributor of mobile devices. \n \n Steve Roberts, President for Zoompass provided the following, \"This is a great start and illustrative of how we can leverage our existing network and distribution partnerships in the mobility space.\"\n \n About Zoompass Zoompass is a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions. In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift cards, incentive cards, and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer fu...