The Solution has been fully tested by Raseed and its flagship customer, Sawf Aljin bank (“Sawf Bank”), and has now moved into production. As of now, Raseed has begun implementing fifty (50) Smart POS terminals received from the Company at
The Solution is intended to address physical cash shortages at banks where clients cannot withdraw cash as required. It allows local Libyan banks to activate and load closed-loop cards with the funds requested by clients so that they may use the loaded funds at all registered Merchants. The idea is for the Company to provide a closed-loop cards solution that replaces the need for open-loop cards such as MasterCard and
The Solution also allows merchants to sell wireless top-ups of four local telecommunication companies in
“We believe that the success of implementing this new Solution at the
The Company intends to provide a further update on details and availability pertaining to the Solution in due time.
FOR FURTHER INFORMATION PLEASE CONTACT:
519-3518647
About
Follow us on:
https://www.facebook.com/FintechSelect
Neither
Forward Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Fintech undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of its securities, financial or operating results (as applicable) or prospects as to the effective implementation of the Solution with Raseed or future revenue levels from the rollout of the Solution and other products. Fintech disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Source:
2021 GlobeNewswire, Inc., source