March 11, 2019 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the recent signing of a Revenue Sharing Agreement with Movilix Financial (commercially known as “Movilix”), in Portland, Oregon, USA.
As per the terms of the agreement, the parties agreed to engage in revenue and client database sharing for Bill Payment Services and Digital Prepaid Products. Newt and Movilix will also collaborate in creating new complementary marketing solutions for the US market with the goal of increasing the number of users on both platforms, while at the same time integrating deeper into Latin American markets.
More than 60% of Hispanics living and working in the USA utilize remittance to provide resources for their families back home. Frequently, families are unable to pay household bills on time, and run short between paychecks, therefore, services that allow Hispanics to pay their bills or provide payment for their families are a fast-growing market.
Newt believes, that the collaboration between the two entities will complement and enrich each other’s business service offering and will cause Newt’s business take a leap forward in increasing customer base in the USA, while connecting Latin American products and services.
Sergio Maya Aleman, CEO of Latin America for Newt, stated: “Successfully integrating Movilix USA’s system with Newt’s Bill Payment platform will be a win-win strategy for both Newt and Movilix. This horizontal integration will create tremendous synergies to create additional exposure for both companies’ marketing channels.”
Movilix is a US Company that provides cellular phone top up services and POS services for hundreds of merchants throughout southern United States. Additionally, utilizing the latest payment processing technologies, Movilix provides consumers, merchants and the unbanked with top up cellular services.
For more information, visit https://www.movilix.com
Newt Corporation is a Canadian Company with subsidiaries in USA, Europe & Mexico, that aims to become a Fintech leader in services of prepaid and bill payment transfers while providing solutions for providers targeting the unbanked market. Utilizing the latest payment processing technologies and partners, Newt provides merchants, consumers, and the unbanked population with cashless mobile payment, bill payment, prepaid products, and other services for mobile devices and Point of Sale locations.
By choosing Newt’s SaaS solutions, users and businesses can take away complex developing internal capabilities of accepting bill payments or point of sales and digital product purchases, allowing merchants a quick and seamless transaction processing, payment acceptance and enhanced digital product line for their businesses in a more secure and efficient way.
Newt’s current platform utilization and client base are expanding in Latin America, thus experiencing an increased growth of businesses using Newts SaaS software solutions. With recent top enterprise companies looking for mobile wallet solutions and new processing capabilities, Newt’s portfolio of services is expanding. Newt’s next generation payment transfer solutions use new methods for payments, digital transfers, and bill payment in a mobile application. The company’s platform has been designed from the ground up for modern digital transfers with an ecosystem with full configurability, open API integration, and enhanced value-added services, and has expanded its B2B market to retailers, money transfer services, and financial institutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.