Vancouver, British Columbia--(Newsfile Corp. - October 2, 2018) - Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) ("Upco") is pleased to announce, further to the recent agreement with eMoney plc, that it has commenced development of the interface between Emoney and the Upco application, regarding user authentication and transaction / account management. This is an important early step in deployment of a full-featured mobile payment and transfer application, encompassing both Fiat and Cryptocurrencies, within our E-wallet. Details regarding this innovative offering, which is in the advanced design stage, will be addressed in future news releases.
Email authentication, targeted for release by the end of next week, will enable users to authenticate on the application without a phone number / SIM card. This holds a number of important implications for utilization, and user security and privacy. With this in place, users will be able to download the Upco app to their mobile device (Android tablet, iPad), authenticate using their email address, and benefit from the range of Upco services via their device. In the event that a telephone is lost or stolen, users will also be able reaccess their information via email and password from anywhere in the world, without the loss of data or data integrity / security.
Balance transfer will enable Upco users to transfer the account balance in their E-wallet to the E-wallet of another Upco user at a nominal cost, thereby improving the utility and flexibility of this service. Balance transfer is scheduled for release in mid-October.
Upco is also working to deliver support for User Groups and Channels, both of which will deliver significant benefits to the Upco user community. These enhancements will be addressed in future news releases.
According to Statista, in 2018, global transaction volume in the mobile point-of-sale payments space is expected to reach US$391 billion and projected to increase to over US$1.3 trillion by 2022.
Mr. Andrea Pagani, CEO and President commented: "We are extremely pleased and gratified at the steady progress that is being made in the development and delivery of our integrated communications and e-commerce solutions. There are a host of exciting opportunities of great benefit to users in this evolving space, and we continue to monitor them closely with a view to enhancing and extending our solutions on an ongoing basis. The improvements cited in this release, particularly email authentication, attest to Upco's strong and ongoing commitment to user security and privacy, and protection from third party intervention."
About Emoney Plc
Emoney issues and acquires electronic money, builds innovative tools for payments and creates networks between the biggest European players, the networks and the points of sale. Emoney, Licensed in Malta, is authorised by the MFSA in 2013. The Financial Institution with an extended portfolio owns all the opportunities and permissions in accordance with the European Community. Emoney relies on a proven decade of experience in management in the world of electronic money, issuance of online current accounts and issuance of rechargeable credit card. The objective of the Institution is the creation of an extended network to all of the European Community countries through partnerships which are already well established in the commercial sector and micropayments.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.