First Global inks e-payment deal

FINANCIAL technology company First Global is expanding its payment services in the country as well as in Latin America through a deal signed with payment solutions provider Mobi724 Global Solutions.

In a statement, Andre Itwaru, of First Global Data Limited, said the company has partnered with Canadabased Mobi724 for the deployment of First Global’s alternative payment service in the Philippines and targeted countries in Latin America.

“The objective is for First Global and Mobi724 to provide alternative payment solutions for these target banks and to facilitate cross-border remittances and payments inbound and domestically within these countries,” he said.

Mobi724 offers payment solutions, card- linked offers and rewards solutions and digital marketing, and has a network in the local debit industry through a connection with BancNet and other payment gateway operators.

“As we continue to gain momentum in the Philippines and LATAM, we believe that the addition of these value-added alternative payment solutions to our pipeline will increase revenues and complete our offering”, Marcel Vienneau, CEO of Mobi724, said in the same statement.

Under the memorandum of understanding, both companies will leverage their technology platforms or strategic marketing to reach more consumers. Mobi724’s customers will be offered services through point of sales connected to Mobi724’s payment gateway and First Global’s mobile wallet platform, while First Global will use its technology to form new payment capabilities for Mobi724.

“Mobi724 will provide cash ac which will include cash load and bills payment domestically in the target countries, and First Global will customize an on-boarding experience for Mobi724’s customers,” the companies said.