VANCOUVER, British Columbia , May 09, 2019 (GLOBE NEWSWIRE) -- LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT) (OTC:LLNKF), a leader in logistics, artificial intelligence and digital payments, is very excited to announce that its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK Tech”) is launching a closed beta for its uBUCK Pay app in June 2019.
uBUCK Pay is a digital wallet and payments platform that serves as a payment alternative for consumers and merchants, with a focus on serving the unbanked and underbanked community. Users will be able to transfer uBUCK cash to friends and family around the world without paying any transfer fees.
uBUCK cash is also the world’s first stable token backed by the US dollar built on the Waves blockchain platform. Waves is the world’s fastest blockchain platform, meaning uBUCK customers will be able to top-up accounts, make payments and send transfers faster than competing digital wallets and payment transfer services.
Major Highlights of uBUCK Pay:
- Asset-Backed - uBUCK cash is backed by one US dollar from the sale of uBUCK pin vouchers. The US dollars will be stored in trust to offer security and stability and uBUCK customers can cash out their uBUCK cash at any time back into US dollars.
- Decentralized App - uBUCK Pay runs on a P2P network of computers rather than a single server or a centralized cluster of servers. Decentralized apps can speed up money management, transfer and lending by eliminating middlemen and enhance security.
- No Transfer Fees - Unlike other payment platforms, uBUCK Pay doesn’t charge its customers any fees to transfer funds to friends and family.
- Record-Breaking Transaction Speed - The Waves network has set a blockchain speed record for maximum transactions per day and processed more transactions in 24 hours than any other open blockchain in existence, meaning uBUCK customers can send and receive funds instantaneously.
- Highly Secure - uBUCK Pay offers multi-factor authentication, biometric and device verification, SSL encryption and Mastercard SecureCode to ensure the highest level of security.
- Serving the Unbanked and Underbanked - uBUCK offers a payment alternative for the unbanked and underbanked community. 32.6 million Americans and close to 6 million Canadians fall in this category. uBUCK Tech is planning on rolling its service out to Southeast Asia, with only 47% of the population having a bank account and in the Philippines where it has 77% of the population unbanked according to a recent survey by BSP.
“The closed beta launch of the uBUCK Pay app will be a major milestone for the company,” said President and CEO of uBUCK Tech James Youn. “We are extremely proud to be the first ever asset-backed stable token on the record-breaking Waves platform running a digital wallet and payment platform. We expect the closed beta will garner some very positive results and look forward to the feedback and full rollout of uBUCK Pay.”
Interested users looking to participate in the closed beta testing for uBUCK Pay can sign up with their email address at https://ubuckpay.com/.
About LiteLink Technologies Inc.
LiteLink Technologies Inc. is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies. Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free.
About uBUCK Technologies SEZC
uBUCK Pay is a worldwide online payments platform and pin voucher solution that serves as a payment alternative for consumers and merchants. uBUCK Pay is a secure and fast method for making payments and transfers and serves as a digital alternative to traditional payment methods like checks, money orders and wire transfers.
For more information about LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF), please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com. For details about uBUCK Pay, please visit ubuckpay.com.
For further information, contact Bronson Peever at 833-205-6945 ext. 3742 or investor@litelinktech.com.
Forward-looking Statement
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.