VANCOUVER, British Columbia, June 24, 2019 (GLOBE NEWSWIRE) -- LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT) (OTC:LLNKF) (FRA: C0B:FF), a key player in logistics platforms and payment solutions, is pleased to announce that its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK”) has signed a strategic alliance with Spare CS, Inc. (“SPARE”) to bring virtual ATM capabilities to uBUCK customers.
SPARE is a mobile ATM app that allows users to convert their digital balance into cash at registered merchants without the need for a debit card, credit card, or a brick and mortar bank.
The agreement will see SPARE provide QR code processing technology to uBUCK, giving uBUCK customers the ability to seamlessly convert their uBUCK into cash at 2,500 participating merchants in Los Angeles.
“We are extremely excited to partner with SPARE, a fintech startup that recently received a vote of confidence in the form of a $500,000 investment from Mark Cuban on Shark Tank,” said uBUCK CEO James Youn. “This alliance will not only provide uBUCK customers with more options for converting their funds, but it also aligns with our goal of serving the unbanked and underbanked communities.”
SPARE gives merchants the ability to convert their cash registers into an ATM, increasing revenue and foot traffic. For customers, it offers a more secure, convenient and affordable option for dispensing cash.
“We see a great opportunity in the strategic alliance with uBUCK, and digital wallets alike, that aim to serve the unbanked and underbanked populations of the world,” said SPARE CEO D’ontra Hughes. “We see such strategic alliances as integral to the widening of services for groups of the population that often pay exorbitant fees for some of the most basic financial services. We are honored to extend our service to users of a platform that can greatly benefit from our network and its ever-growing expansion across the United States.”
About LiteLink Technologies Inc.
LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF) 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enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries.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. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.
For further information, contact Yana Bobrovskaya at 604-307-2553 or email investor@litelinktech.com.
About uBUCK Technologies SEZC
Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay and Streambucks are P2P payment platforms offering consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payment methods. uBUCK and Streambucks are stable utility tokens that are backed by the U.S. dollar via pin voucher purchases within the uBUCK Pay app or at participating resellers. Customers may load a uBUCK debit card and make online and offline purchases and send payments around the world for free.
About Spare CS, Inc.
SPARE is a cardless, “free to withdraw,” virtual ATM network, that effectively turns any business into a ‘STM,’ or ‘SPARE Teller Merchant’ who support the network by dispensing cash from the point-of-sale system, to users who request cash outs from SPARE’s mobile application. The network provides users with immediate access to cash, while eliminating withdrawal fees and helps to build community by increasing foot traffic to local merchants and creating peer-to-peer exchange rather than person-to-machine exchange. Using patented mobile technology, SPARE allows users to enter any participating location and withdraw cash in seconds and for free by tapping their mobile device on the countertop chip reader. No debit or credit card is required, as users may access funds from a growing range of services which today include any debit or credit card as well as Apple Pay, Google Pay, PayPal, Venmo Debit, CashApp Debit and Coinbase wallets.
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.