ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) shares have been up over 175% over a three-month period recently, and shares could continue to rise after it provided corporate updates. Before we get into the news, you should know what Zoompass Holdings does.
Zoompass Inc. is a leading financial services technology company, which has a unique place in the financial technology (fintech) space. The company operates 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. Now, in the prepaid card sector, Zoompass offers complete program management services for a wide range of open loop Visa and MasterCard prepaid and virtual card accounts.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) also enables businesses to provide their customers with numerous open loop card choices, which includes gift card, incentive cards, check replacement cards and online virtual card accounts. Additionally, Zoompass holdings provides advanced mobile technology, which could enable 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 funds and perform card to card money transfers in real time using their mobile devices. The company’s mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings.
Now that we know what type of company Zoompass Holdings is, let’s get into some company news. Zoompass recently announced that it was in the process of completing several private placements with accredited investors. The private places would be conducted through the subscription of common shares, and they’re expected to raise approximately 250K CAD. Moreover, the company expects to file its SEC Form 10-K for the fiscal period ended on December 31, 2016, soon.
In addition, not too long ago, Zoompass provided an operation and corporate update. In that press release, the company announced that it was pleased it would launch its enhanced Mobile Money Platform, at the time. The platform provides users with comprehensive personal finance solutions, which includes direct bank loading, transfers, direct payroll deposit and peer to peer payment. That in mind, the company expects its mobile app to be available on the Apple App Store, as well as the Google Play Store. Consequently, this could bring more users to the platform, which could potentially be a key driver of revenues and earnings.
Rob Lee, Chief Executive Officer of Zoom Holdings, stated, “We are extremely pleased about the imminent launch of our enhanced platform and are looking forward to achieving this important milestone. Our comprehensive financial Mobile Money Platform is a critical base in driving our diverse revenue stream going forward.”
Not only that, but the company recently successfully launched its mobility products and solutions program, which consists of new and certified customer pre-owned phones and tablets. Moreover, the company entered into multiple agreements with various companies, such as SYNNEX Canada Limited, a leading distributor of technology products to system builders and resellers across Canada; SKY Devices, a mobile manufacturer; U-Vend Group; and Starlink Group LLC.
According to Zoompass Holdings CEO Steve Roberts, “We are extremely pleased to have entered into an array of agreements across our varied revenue streams. We look forward to working with our vendors, suppliers, customers and other stakeholders as we look to drive shareholder value in the coming months.”
Now, if you missed any updates on Zoompass Holdings, you might want to keep up with the news on the company since it’s expected file its SEC Form 10-K soon. To stay up to date on ZPAS, just enter your email address below, and you’ll be subscribed to our free newsletter. Thereafter, we’ll send you updates, if any, on ZPAS.
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in ZPAS stock, short or long.