Freeport Capital Inc. (CNSX: FAS) Hybrid PayTech Asia Enters Into Partnership LOI With The Gemini Group Of Companies In The Philippines
MONTREAL and MANILA, Philippines, Dec. 21, 2012, 2012 (Canada NewsWire via COMTEX) --
Capital (CNSX: FAS), - a leader on Mobile Credit and PIN Debit payment
solutions, announces that it subsidiary HybridPaytech Asia Inc.(HYBRID)
and BANK OUTSOURCING COMPANY LTD (BOS) a division of The Gemini Group
of Companies(GGC) http://www.ggc.ph announced today that they have signed a Letter of Intent to enter into
a partnership and a license agreement. The Letter of Intent describes
BOS's intent to license HYBRID's extensive Mobile Payment Ecosystem,
which contains access to all HYBRID's Mobile payment systems,
development and hardware.
Becoming a HYBRID licensee provides access to additional products and
services to deliver secure, safe and easy mobile payment globally. As
HYBRID partner, BOS will have access to HybridPaytech Asia's extensive
banking and switching relationships to enable BOS to effectively market
HYBRID's full suite of services throughout the Philippine's and Asia
and in addition Hybrid and BOS will be jointly developing new payment
options and platforms to support BOS's clientele.
"HYBRID's Mobile Payment Ecosystem and client portfolio is a strong and
critical element to our business strategy," said Mr Alfredo Aquino,
President of BOS. "Our alliance with HYBRID gives us access to wireless
payment technology and allows us the freedom to focus on delivering
Payment and Remittance solutions to our existing clientele,
Philippine/Asian banks, their merchant portfolios, other Financial
Instutitions and select Governmental Agencies." In addition BOS and
HybridPaytech Asia are also working together with partner banks to test
the Hybrid Mobile technology to support the payroll-driven Overseas
Filipino Workers sector.
Hybridpaytech Asia Inc, President Gary Repchuk indicates "HYBRID
combines scale and expertise to structure sophisticated partnerships
with global clients that require a global payment solution. We will
enable companies to strengthen their market position by providing
access to Hybrids mobile payment platform. Setting up a partnership
with BOS and collaborating with their banking relationships provides
HYBRID with a strong and established partnership that has proven itself
as the preeminent Bank Outsourcing Company in the Philippines.
About Philippine Remittances
North Americas is host to roughly 5 million Overseas Filipinos and is
the biggest contributor (almost 50%) to the more USD20.0 billion inward
remittances into the Philippines (coursed thru formal channels). Next
is the Middle East where there are over 2.5 million "remitting" OFWs
who generate a little less than 30% of the volume. The remainder of
volumes are generated by OFW's working within Asia
About the PHILIPPINES: Population (2011): 101,833,936 with 92,227,000 Mobile Cellular Users
(2010): - Increasing amount of smart phone (I-Phone, Androids,
Blackberry) that are becoming more main stream and cheaper in cost.
About Gemini Group of Companies
In 1996 the original corporation that is now the Gemini Group of
Companies started providing very affordable and efficient door -to -
door remittance service for Filipinos in Canada. Since that time the
company has transitioned to providing delivery and fulfillment services
for the entire banking, non-banking and specifically the large
international remittance companies which are now part of of GGC's
valued clients. The Gemini Group of Companies has several subsidiaries
and until recently was better known in the banking industry as: http://www.ggc.ph
-- Gemini Exchange International, Inc.;
-- Signed and Delivered, Inc.;
-- St. Clair Security, Inc.;
-- BOS-Banks Outsourcing Services,;
-- Gemini Express;
-- Gemini Forex. Inc.;
-- BOS Security Solutions & Services
Within Canada and amongst their Filipino-Canadian clients the "Gemini
Express" brand is recognized as the company through which they accept
and process remittances (over the counter via Cash and INTERAC) as a
licensed Canadian Money Services Business company. Fulfillment is
completed the same or next day by one of the above GGC companies via:
-- Door to Door Cash Delivery or Home Cash Delivery
-- Direct credit (IBFT) or over the counter deposit to all major
-- Cash Pick Up services at our own front stores and partnered
with few chain of stores with thousands of payout outlets.
-- Issuance of their own co-branded Cash Cards with Banco De Oro
and Visa Cards with Chinatrust Bank
Because of the above diversity of delivery options GGC is the approved
fulfillment partner of all major banks in the Philippines, and the
large International Remittance Companies that dominate the industry.
With their success GGC then ventured into and succeeded to higher levels
of service through their subsidiaries: Bank Outsourcing Company by
providing CIT-Cash in Transit companies for more than a decade. In
addition to Cash-In-Transit (Armored Vans) services to the Philippine
banking industry, Gemini deploys ATM's and P.O.S. machines including
the launching of Philippines first mobile ATM. Foreign Exchange Trading
(GEMINI FOREX) and retail Money Exchange and Pawnshop facilities (Subic
Money Changer) are also part of the GGC family.
BOS is the premier bank outsourcing company in the Philippines.
About Freeport Capital Inc.
First Equity Strategy LLC (DBA; Hybrid Paytech and Hybridpaytech Asia
Inc are subsidiaries of Freeport Capital Inc. Based in Montreal, Canada
and manila Philippines; Hybrid Paytech is a technology leader in the
mobile payment space for EMV, Credit and Pin Debit acceptance offering
an ERP (Enterprise Ready Platform) enabling Processors & Acquirers with
quick merchant adoption solutions. With a global footprint, Hybrid is
an enabler of easily deployable payment systems for Smartphones &
Tablets focusing on Encryption & Authentication for Merchants in the
Fleet, Delivery, Logistics, Transit, Government, Hospitality and Retail
industry "on the go".
For further information on Hybrid, please visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch v=XvZHrck2eag&feature=youtu.be
The Canadian National Stock Exchange (CNSX) has not reviewed this news
release and does not accept responsibility for its adequacy or
accuracy. This news release does not constitute a solicitation to buy
or sell any securities in the United States.
SOURCE: FREEPORT CAPITAL INC.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2012/21/c3000.html
SOURCE: FREEPORT CAPITAL INC.
Freeport Capital Inc. (CNSX:FAS) Mr. Michele Tasillo (514) 394
firstname.lastname@example.org Mr. Gary Repchukgrepchuk@hybridpaytech.com
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