Feb 14 2017
A nice Valentines Day gift for shareholders of First Global has just been announced!
We recently wrote an article on First Global Data noting the huge potential and quality of management, just as they were making a trip to China to establish business ties for their mobile payment / cross border payment app. PayQwik is their award winning software which allows mobile payments to be made easily and quickly and has been adopted by some financial institutions in India with Bangledesh not far behind.
As of today FGD announced that they have signed an MOU to access a database of 100 million potential users in China and approximately 500,000 retail locations across China! In addition they will have access to 100 million students across China through another Chinese association. 200 potential million new users on one short trip! The company must be beside themselves with excitement and the share price has certainly reflected this, zooming up t0 a new 52 week high of .80 cents (cad) since they left for their trip.
The potential number of users in China is huge as we all know by now.
China is tech savvy and ripe for adopting new technology which makes life easier. If this first deal goes as well as they hope, this will obviously be a great thumbs up for their technology.
CEO Andre Itawaru states in the press release that “This is the first of a number of opportunities we are able to share at this time.” He has stated in earlier press releases that if they get 1 million users he feels the the company will be worth a valuation of $140 million users. Now they are looking at a potential 200 million additional users. that is spectacular! We shall see how many of these will adopt the technology moving ahead, this should be very interesting to watch unfold…
Clearly First Global has something special to offer the global mobile payment market and their first mover status may indeed catapult them to the top of the heap. We hope to soon get a demonstration of the software first hand and report more on this very exciting company.
Stay tuned for further news from First Global!
Disclaimer: We are not being compensated by the company however the editor is a shareholder and may buy or sell in the market at any time. Please do your own due diligence.