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LONDON, ENGLAND and NEW YORK CITY, NEW YORK and CALGARY, ALBERTA--(Marketwired - Mar 3, 2016) - Authorized Electronic Money Institution ("EMI") and Transactional risk management specialist Vogogo Inc. ("Vogogo") (TSX VENTURE:VGO) is pleased to announce that they are fully operational as a Payment Facilitator with Secure Trading Financial Services (STFS), a licensed European Financial Institution. STFS, an award winning European acquiring institution, is also a Principle Member of Visa and MasterCard, enabling it to deliver best in class end-to-end acquiring services across Europe.
Under the partnership, Vogogo, as an authorized EMI, directly administers and facilitates the payment processing on behalf of their qualified business customers. Whilst STFS provides the necessary acquiring services in support of Vogogo's payment services offering.
Vogogo began providing payment services in partnership with STFS in February 2016 and is currently on-boarding their client base. These services are expected to continue to ramp up throughout 2016 based on increasing business demand. Vogogo also expects to derive revenue from these services in line with its established business model.
In addition, Vogogo would like to announce that it has engaged Joann Head to provide investor relations services to the Company.
Ms. Head has deep experience in the financial service industry and has lead investor relations initiatives at both TSX and TSX-Venture listed companies, including DHX Media and NYX Gaming. Ms. Head is based in Toronto, Canada, and will work to increase market awareness for Vogogo utilizing a number of financial market communications initiatives. The core of this activity will be facilitating direct introductions with institutional asset managers, retail brokers and other investors in a number of cities across Canada and the US. Ms. Head will also oversee certain other marketing and PR campaigns for Vogogo, augmenting Vogogo's current activities. Ms. Head will be paid a fee of $5,000 per month for an initial term of 3 months.
Alex Tapscott will be leaving his current role as capital markets strategist to launch and market his upcoming book Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World. Alex has made a deep and lasting contribution to Vogogo and we look forward to working closely with him long into the future.
About Vogogo Inc.
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded risk management and payment services company. Founded in 2008, Vogogo designed, built and launched its automated risk management and payment processing technology while continuing to grow its expertise in software development, technology, banking, compliance, payments and transactional risk management. Vogogo is now executing on its plan to offer its services to key global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its experience, positioning and technology.
For further company information please view the Vogogo Media Kit
STFS has more than 20 years' experience in the payment industry. From its roots as a robust and secure payment processing company, to its best of breed acquiring and cybersecurity services today, STFS is a one stop shop for payment services and has continually evolved to meet the ever-changing needs of online businesses. Today, STFS is focused on speed and simplicity for its merchants - it offers a full cross boarder acquiring service across Europe and can board merchants within just 48 hours.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws. See Vogogo's Annual Information Form for the year ended December 31, 2014 and its Management's Discussion and Analysis for the three and nine month periods ended September 30, 2015 for a detailed discussion of risk factors.
Vogogo continues to enter into various arrangements with cryptocurrency exchanges and other payment processors, in order to integrate Vogogo's technology with such entities. There is no certainty that such integrations will result in the generation of revenues as a result of any such arrangements.
Chief Executive Officer
Chief Revenue Officer
Capital Markets Manager
Director of Investor Relations