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  • Fintech is currently testing a white-labelled version of its online payment platform
  • This recently acquired platform provides individuals and businesses with numerous money transfer and payment features
  • Fintech has become registered as a Canadian Money Service Business (MSB) with FINTRAC
  • Fintech Select is a provider of robust and disruptive Pre-Paid Card programs and mobile banking solutions
  • Fintech Select (FTEC) opened trading at C$0.12 per share

Fintech Select (FTEC) is pleased to update shareholders on its financial payment solutions that complement its existing portfolio and provide an update in terms of its ongoing business.

The company is now testing its white-labelled version of its recently acquired online payment platform solution.

The platform allows individuals and businesses to register and create their own e-wallets, request and send money, manage mobile payments, integrate shopping cart functionality and loading and unloading different currencies (including cryptocurrencies) through bank transfers, bank wires, or through direct debit.

This comes on the heels of the company becoming registered as a Canadian Money Service Business (MSB) with FINTRAC.

Raseed Update

The company is also pleased to announce progress on its project with Raseed, the company’s JV partner in Libya. The company has completed the development of its POS solution on an A90 Wireless Smart Android POS. The Smart POS has been implemented for Raseed’s first customer, Sawf Aljin bank and Raseed has requested another 100 POS terminals to be shipped, which the company has already fulfilled. The 100 new Smart POS terminal requests will be implemented for a new customer and other local merchant locations.

POS Selectcoin

Fintech Select is also pleased to provide an update on its POS Selectcoin platform. The company has decided to re-build this platform based on the latest POS software technology. Fintech’s in-house IT staff believes this will be completed within six to eight weeks. Additional functionality has been added to the solution allowing cardholders and e-wallet owners to spend their funds in fiat or crypto at any merchant that has Fintech’s POS. This functionality will allow customers to use their funds to make payments toward purchases, either online or at physical merchant locations.

“The solutions we continue to develop will have a positive impact on the company’s leading role in the financial payment solutions sector, and will expand the company’s footprint globally to help pursue international opportunities” commented Mohammad Abuleil, CEO and President of the company.

The company will provide a further update on details and availability pertaining to POS Selectcoin at a later date.

Fintech Select is a provider of robust and disruptive Pre-Paid Card programs and mobile banking solutions.

Fintech Select (FTEC) opened trading at C$0.12 per share.

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