We at Prosperity Stock Report have been following First Global Data from the beginning. When we first started covering the company with our original profile price of $0.26 we did not expect that just a couple of months later a deal of this magnitude would be on the table. This changes everything. We are pleased to share with you today’s after the market news, which in our opinion could be one of the biggest deals any Canadian small-cap tech player has ever been part of. This is nothing short of a miracle. For those who haven’t followed the story, you can start by listening to our podcast here:
HERE IS TODAY’S BREAKING AFTER MARKET NEWS:
First Global and LianLian Pay to Launch Social Messaging Payments and Remittance Service to Over 100 million Users and Merchant Partners
TORONTO , April 19, 2017 /CNW/ – First Global Data (“First Global” or the “Company”) is pleased to announce that it has partnered with LianLian Pay to launch a Social Messaging Payments and Remittance service to over 100 million users and merchant partners.
First Global has partnered with LianLian Pay to launch a co-branded remittance service that enables Chinese living in the USA and Canada to make person to person international money transfers to China utilizing the social media messaging platform WeChat.
A Push/Pull marketing program will be used whereby LianLian will promote the service to its approximately 100 million plus registered users and its merchant partners.Lianlian will also roll out a full-on marketing campaign among more than 1000 outplacement employment agencies to inform targeted immigrants of the value of the service.
“This partnership took a lot of time and effort to construct. The resulting innovative and disruptive remittance product speaks for itself. This co-branded social messaging payments/remittance service is a vivid example of the adaptability and relevance of our FINTECH technology. This collaboration changes the game for First Global in that the penetration of such a large user base with a clear and distinct monetization strategy will create an exponential transactional, recurring revenue pathway”, said Andre Itwaru , First Global’s Chairman and CEO.
“People talk about FINTECH nowadays like they have to stay informed and relevant. We take a step further to contemplate how it improves livelihood and creates value. You don’t have to be personally in China to sense the ubiquity of a social messaging platform’s penetration. With big enough market demand and Lianlian’s proven capability in China , we look to deliver a superior user-oriented product that defines game-changing industry disruption”, said Ken Zheng , COO and Head of Global Strategy and Business Development of Cross Border Payments at LianLian Pay.
About Lianlian: (www.lianlianpay.com)
Lianlian Pay is the fourth largest non-banking third-party payment service provider in China , with transaction volume exceeding $50 Billion in 2016. Fast-growing, innovation-oriented and highly-adaptive, Lianlian Pay, as one of the top licensed mobile payment companies in China , has been priding itself in focusing on and excelling at providing all-in-one payment solution in the form of CUP cards mobile payment, cross-border payment and settlement, RMB and foreign currency disbursement, and international remittance services etc. for tens of millions of individual customers and thousands of merchants and partners.
About First Global: (www.firstglobaldata.com)
First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.
Disclosure: Note we own a position in FGD which has been purchased on the open market over the last several months. We have not been compensated for this content.