SmartCard Marketing Systems Inc. (OTC:SMKG) Enters into LOI with Primeline HK LTD for $1million USD investment.
18 Marzo 2017 - 12:00AM
InvestorsHub NewsWire
SmartCard Marketing Systems Inc. (OTC:SMKG)
Enters into LOI with Primeline HK LTD for $1million USD
investment.
New York, NY --March
17, 2017 -- InvestorsHub NewsWire --Today the
company announced a Letter of Intent whereas Primeline HK Ltd to
invest $1m USD into SmartCard Marketing Systems Inc
(OTC:SMKG) for up to 25% of the company’s outstanding Common
Class A shares. The company’s share a common focus to develop the
Fintech industry channeling ISV’s as the growth conduit for
sales.
CEO Massimo Barone stated “We are excited
about this partnership with Chris and his team at Primeline HK Ltd
which brings investment capital to grow our company’s technology
but also by expanding our business relationships throughout Asia
with Banks, Telco & Global Enterprise. Our focus has been to
accelerate our position and offering in the Fintech & Retail
market with both proprietary technology & advisory services.
”
Under the terms of the LOI Primeline HK LTD
Investment
The company has the right to purchase 1 share
for every 8 shares invested for a period of 18 months with a market
price PPS discount of 20% with a floor protection PPS of $0.075
USD. In addition the company has a signing bonus of 5millon Stock
Options at a PPS of $.065 USD good for 14 months from signing for
an additional $325k USD. Additionally with the signing of the LOI
Primeline HK Ltd deposited a 1% for $10k USD of the
investment.
Fintech Asia
Forecasts
- Transaction Value in the "FinTech"
market amounts to US$1,404,469m in 2017.
- Transaction Value is expected to
show an annual growth rate (CAGR 2017-2021) of 25.1 %
resulting in the total amount of US$3,435,877m in 2021.
- The market's largest segment is
the segment "Digital Payments" with a total transaction value of
US$1,097,642m in 2017.
- From a global comparison
perspective it is shown that the highest transaction value is
reached in China (US$1,086,493m in 2017).
source: https://www.statista.com/outlook/295/101/fintech/asia
About Christopher James
Payne
Director – Primeline HK
Ltd.
Chris is the Director of Primeline HK where
he serves as a Project and Operations Manager holds a B.S. in
Marketing from Bentley University and is passionate about his
undertakings. Collectively, he and his partners possess years of
expertise in banking, payment processing, sales and distribution
throughout Asia. Through Primeline HK, Chris aims to deliver a
robust mobile payment platform that can be delivered globally to
empower its client’s merchants with a flexible solution
supplemented with abundant value added services.
Alongside Chris’s involvement in payment,
Chris is also the President of Primeline Products Philippines.
Primeline Philippines currently operates through the largest
department store and mall chains in the Philippines and is home to
9 brands from various industries. Chris’s involvement in Primeline
Philippines has provided him experience in sales, brand management,
business development, product sourcing, freight forwarding and
logistics. Chris is constantly active looking for opportunities to
cultivate new relationships to bring added value to
projects.
About
SmartCard Marketing Systems, Inc.
SmartCard
Marketing Systems Inc. (SMKG:OTC) is a Fintech advisory Co &
solutions provider to the payments industry, delivering cloud-based
EMV Host Acquiring & Issuing solutions to banks, telecoms and
enterprise customers. In addition, the company’s in-house lab
offers customers proprietary software solutions including
Genorocity.com, a coupon and incentive platform for the Retail
& Events industry, Check21SAAS.com a Remote Deposit Check
solution for X9 clearing and VelocityMWallet.com, a transaction
payment ecosystem for alternative payment solutions &
processing. For more information, go to www.smartcardmarketingsystems.com.
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