New Venture to Be Called Innovative e-Payment Solutions, LLC. with Operations in Southern California Set to Begin in September
Mexico City, Mexico , June 15, 2018 (GLOBE NEWSWIRE) -- QPAGOS (OTCQB: QPAG), a U.S.-based provider of digital payment services in Mexico and DPW Holdings, Inc. (“DPW” or the “Company”), a diversified holding company, today announced the execution of an agreement to establish a new joint venture for the purpose of launching a network of 1,000 self-service kiosks starting in California over the next 12 months. The parties are expected to enter into an operating agreement of Innovative e-Payment Solutions, LLC and related credit facility agreement and supply agreement, on or prior to July 1st, 2018. Unless otherwise agreed to by the parties, the agreement to establish a joint venture will terminate if the parties do not enter into the operating agreement, credit facility agreement and supply agreement prior to July 1st, 2018.
It is anticipated that the self-service kiosks will feature consumer payments to a library of over 10,000 vendors, utilities and service providers actively accepting payments (domestic and international) as well as mobile top up service, money transfers, cryptocurrency purchases and payments and micro lending transactions.
Headquartered in Los Angeles, Innovative e-Payment Solutions, LLC will seek to leverage QPAGOS’ cutting-edge digital payment solutions for consumers and service providers, as well DPW Holding’s strategic leadership in identifying and supporting disruptive technologies to reach their full growth potential.
"We are thrilled to have been chosen by DPW Holdings, Inc. as their strategic technology partner in this endeavor. Our technology, successfully deployed in Mexico and a dozen of other countries, should provide Innovative e-Payment Solutions with a unique competitive advantage, allowing it to cater to specific consumer needs for both domestic and cross-border payments," said Gaston Pereira, Chief Executive Officer of OPAGOS.
With this new venture, QPAGOS enters the U.S. market and looks forward to providing innovative cross-border payment solutions between the U.S. and Latin America. Already widely recognized and established in Mexico and other countries as the leading Kiosk self-service payment solution, QPAGOS anticipates providing new digital payment options to customers in the U.S. in a market primed for growth and innovation.
ABOUT QPAGOS
United States based QPAGOS offers cutting edge digital payment services for consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where 95% of consumer purchases are made in cash. It operates a network of self-service kiosks and applications offering alternative payment more convenient for consumers and a more efficient billing platform for service providers. (WWW.QPAGOS.COM )
ABOUT DPW HOLDINGS, INC.
Headquartered in Newport Beach, CA, DPW Holdings, Inc., (www.DPWHoldings.com), is a diversified holding company with a growth strategy of acquiring undervalued assets, disruptive technologies, sustainable solutions, and exciting ventures for incubation and development to their full potential for long-term growth and investor returns.
DPW, through its wholly-owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing world-class technology-based solutions for critical applications and lifesaving services, in which innovation is the main driver.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a wholly owned subsidiary of the Company, is based in Fremont, CA, and is a California private lending company operating under Financial Lender’s License ##60DBO-77905 dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as "anticipate," "believe," "can," "continue," "could," "estimate, "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the or the negative of these terms or other comparable terminology and include statements regarding entering into an operating agreement of Innovative E-Payment Solutions, LLC and related credit facility agreement and supply agreement, on or prior to June 30, 2018,
the expected features of the self-service kiosks, leveraging QPAGOS’ digital payment solutions for consumers and service providers, as well DPW Holding’s strategic leadership in identifying and supporting disruptive technologies to reach their full growth potential, and providing Innovative e-Payment Solutions, LLC with a unique competitive advantage allowing it to cater to specific consumer needs for both domestic and cross-border payments, providing innovative cross-border payment solutions between the U.S. and Latin America and providing new digital payment options to customers in the U.S. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to close the transaction contemplated by the agreement to establish a joint venture with DPW and enter into an operating agreement of Innovative E-Payment Solutions, LLC and related credit facility agreement and supply agreement, on or prior to June 30, 2018, our ability to provide the expected features of the self-service kiosks, our ability to leveraging QPAGOS’ digital payment solutions for consumers and service providers, as well DPW Holding’s strategic leadership in identifying and supporting disruptive technologies to reach their full growth potential, our ability to provide Innovative e-Payment Solutions, LLC with a unique competitive advantage allowing it to cater to specific consumer needs for both domestic and cross-border payment, our ability to provide innovative cross-border payment solutions between the U.S. and Latin America, our ability to provide new digital payment options to customers in the U.S. and the other risks outlined under "Risk Factors" in QPAGOS' Current Report on Form 8-K dated May 13, 2016 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q, 10-K and 8-K. The information in this release is provided only as of the date of this release, and QPAGOs does not undertake any obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
For investor inquiries please call (888) 238-1466 (+1-881-238-1466 for international callers) or email investors@qpagos.com
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