Vancouver, British Columbia--(Newsfile Corp. - February 7, 2019) - Upco International (CSE: UPCO) (OTCQB: UCCPF) (FSE:U06), a cloud-based global telecom carrier, has introduced UpcoPay, an innovative, highly secure and convenient eWallet solution to make person to person and person to merchant payments. UpcoPay, an advanced eWallet system comprising a front-end app and robust back-end software to manage transaction tracking, reporting and a full range of other functions, is based on live transaction processing through integration with Upco's banking partner, eMoney plc.
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eMoney, a Financial Institution, licensed in Malta with a European Passport, has a decade of proven management experience in the world of electronic money, issuance of online current accounts and issuance of rechargeable credit cards. eMoney integration will extend the reach of the Upco App across Europe for Debit and Credit transactions and ensure full compliance with relevant regulatory frameworks within the European banking community. eMoney will handle user onboarding within existent regulatory frameworks, and support transaction processing internally, and in and out of UpcoPay.
Beginning in Spring 2019, Upco users in Europe and Canada will be able to use UpcoPay to send and receive money easily, securely and anonymously, which will be expanded into other jurisdictions over time. UpcoPay will also be able to deliver substantially reduced transaction fees over conventional services provided by major existing payment networks, delivering significant savings to vendors and ultimately to consumers.
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.
Once this foundation is in place, SixthContinent Inc. will be integrated into UpcoPay under the terms of a recently signed Collaborative Agreement. SixthContinent is the largest international platform for shopping cards with a network of more than 3000 leading brands including Amazon, Walmart, Starbucks and Macys, and a community of 400,000 users. This integration will provide cost-effective support for shopping card purchases via the SixthContinent platform, benefiting users while also generating income for Upco through service and transaction fees. The design of the SixthContinent solution is proceeding in parallel with eMoney integration, and within the same general timeframe for go-live.
Andrea Pagani, CEO, stated: "This is a major milestone for our company. In a rapidly evolving world, technology has reinvented commerce, and digital purchases are becoming more and more mobile based, altering the role the payments industry plays in the transaction. We strongly believe that UpcoPay will very soon play a key role in this evolution. In this context, we are very honored by our recent agreement with SixthContinent, a leading platform in the social commerce market. Integration with SixthContinent will allow us to rapidly expand our user base, making the world of digital mobile payments safer, faster and more convenient than ever, for both merchants and users."
Upco also has an agreement in place with Transfer To, which enables money transfer to a Mobile SIM of any user in the world.
For more information please visit the company's websites www.UpcoInternational.com and www.UpcoMobile.com or contact Andrea Pagani, CEO, at 212-461-3676 or email office@UpcoInternational.com. For Investor Relations contact Trent Collett at 778-808-1175 or by email at email@example.com.
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