Vancouver, British Columbia--(Newsfile Corp. - December 17, 2018) - Upco International (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06), a cloud-based global telecom carrier, has signed a strategic cooperation agreement with London, UK-based Megafanstore Marketing. Megafanstore Marketing operates an online platform for the distribution of fan articles from sports teams, music stars, artists, and top athletes, and associated merchandise marketing.
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In addition to the B2B and B2C online business, the company offers a service which performs a 3D scan of a sports fan and produces a personalized 3D miniature figure or a 3D avatar. Megafanstore collaborates with Great Branding, the Union of European Football Associations' official licensing partner, for marketing to leading football clubs.
Under the terms of the agreement, Upco and Megafanstore will collaborate to leverage the Upco Messenger with its blockchain and e-Wallet technology for mobile payment solutions. Pending enhancements in Upco's platform will provide channel support for tailored solutions with key partners, including well-known publishers of paid content, and European football clubs. These enhancements will greatly extend Upco's user base, and benefit channel partners by extending their reach in the market.
The first step in the NewsChannel content strategy will be to integrate quality content channels provided by individual partners. Publishers are currently limited to offering exclusive subscription deals for paid content because micropayments executed via traditional payment methods are too expensive. Under this new model, Upco will offer single articles for purchase with the Upco e-Wallet, which will create an additional revenue stream for publishers.
The second step will develop special interest channels or "FanChannels", which will include quality content provided by European Football clubs, thereby improving communication and enhancing fan activation strategies. The leading football clubs currently reach up to 500 million followers globally, primarily through social media. It is estimated that more than 2 billion football fans worldwide could be reached via the Upco messenger, and this target group represents enormous growth and revenue potential.
Upco recently signed an NDA with SixthContinent and is actively finalizing a strategic Joint Venture Agreement governing private label co-branding of Upco's sophisticated e-wallet application, UpcoPay. SixthContinent, the largest international platform for Shopping Cards, has agreements with more than 3,000 leading brands, including Amazon, Walmart, Starbucks and Macys. With a community of 400,000 users, and a monthly growth of more than 20%, SixthContinent is fast becoming a major player in the expanding Social Commerce market. This Joint Venture will draw on the synergy and expertise of both organizations to go live with the first release of the co-branded e-Wallet solution, currently scheduled for the end of the first quarter of 2019.
According to Statista, in 2018, global transaction volume in the mobile point-of-sale payments space is expected to reach US$391 billion in 2018 and is projected to increase to more than US$1.3 trillion by 2022.
Sid Rajeev, Analyst with Fundamental Research, stated: "With the incorporation of blockchain technology into Upco Mobile, we believe that Upco has the potential to be a disruptive offering in the mobile payments processing space."
The company recently closed a private placement, raising gross proceeds of $770,000 from the issuance of 3.5 million shares at $0.22 per share.
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