New Partnership Aims to Remit Electricity from Abroad - HammerPay Onboards EZ Current - Liberia
June 04, 2024 9:30 AM EDT | Source: Hammer Technology Holdings
Liberia, West Africa--(Newsfile Corp. - June 4, 2024) - With the successful launch of the UBA Remit Wallet in August 2023 - a digital wallet service for UBA Liberia, West Africa-HammerPay [USA] Ltd., a wholly-owned subsidiary of Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR), is now teaming up in Liberia with electricity service provider EZ Current to offer affordable and convenient electricity services. These services can be accessed and paid for through the UBA Remit Wallet - powered by HammerPay.
Pay-As-You-Go Electricity
HammerPay and EZ Current of Liberia are partnering on an ambitious effort to facilitate electricity payments. This partnership will create a pay-as-you-go electricity channel, extending the wallet as a payment method for e-commerce on the EZ Current marketplace portal - www.ezcurrent.net.
Remitting Electricity from Abroad
Customers living abroad with the UBA Remit Wallet, powered by HammerPay, will be able to remit electricity packages from abroad through EZ Current's web portal. By using the assigned meter numbers of subscribers living in country, customers outside of the country can ensure that electricity is provided as needed and as paid for through the marketplace portal with the wallet. Subscribers living in Liberia will be able to use the wallet to pay for packages with EZ Current, utilizing the scan-to-pay wallet functionality. The service is expected to launch in July 2024.
EZ Current
EZ Current, a local reseller of electricity units, launched its operations in Liberia nearly two years ago with almost 500 subscribers. With its subscriber base rapidly increasing, the company has seen its operations grow to an average purchase of $20 for electricity every two weeks. In an effort to scale up its operations utilizing the remittance market from abroad, EZ Current has agreed to adopt the UBA Remit Wallet, powered by HammerPay, as a payment method for the over 300,000 Liberians living in the Diaspora-USA. The UBA Remit Wallet, launched by HammerPay in August 2023 in Liberia, has since been made available in the US through the App and Play Store for download, registration, and cashless transactions in Liberia from the US.
Statements from Key Leaders - HammerPay and EZ Current
EZ Current was recently onboarded as a merchant on the HammerPay Remittance Service Delivery Platform. Speaking on the partnership and the recent onboarding, Michael Johnson Vice CEO and Co-Founder of EZ Current, said, "Access to electricity is a fundamental human right. It is the bedrock for national development and essential for economic growth. EZ Current, through this onboarding and partnership with HammerPay, is making it easy, convenient, and affordable for people in the diaspora and in-country to enjoy what is in fact their fundamental human right; and allow them to contribute to and participate in the economic growth of our country." He further added, "We have a bold agenda for the future, which can only be realized through the type of partnership we have with HammerPay and the UBA Remit Wallet."
Gerald Sherman, President and CEO of HammerPay, emphasized the need to tackle one of the most pressing challenges across the continent, particularly in Liberia-access to electricity. "Remittances from abroad are vital to the economies of the markets we are beginning to penetrate across Africa. In this partnership, we are moving beyond traditional remittance as we know it in the form of cash. We are leveraging our Remittance Service Delivery Platform (RSDP) to remit and transact electricity. The onboarding of this partnership with EZ Current is part of our commitment to become more impact-oriented, making the wallet-as-a-service essential to the daily lives of everyone-where they can now work, learn, live, and play with the convenience and security of our digital technology."
Michael Cothill, Executive Chairman of Hammer Fiber Optics Holdings Corp., remarked, "Our company's venture into Africa was designed to establish strategic partnerships to deliver innovative services that form a real part of people's lives. We started with UBA Liberia for financial inclusion, brought in Spectrum Communications for internet services and digital inclusion, and now EZ Current for electricity. This is all part of the broader Hammer growth strategy that we embarked upon three years ago, now being led and executed by HammerPay and its growing list of partners."
Aggressively Expanding Electricity in Africa
About 400 million of the 1.2 billion people across Africa have access to electricity. In Liberia, that number is about 20% of the country's 5.5 million people-representing over 1 million people. Aggressively expanding electricity adoption provides the opportunity to overcome significant barriers to healthcare, education, productivity, digital inclusion, and ultimately job creation. The access to and affordability of electricity for Liberians is an immediate and absolute priority. As demand for electricity and energy grows in Liberia and across the continent, the utilization of financial technology driven through digital wallets with a user base in the diaspora and in-country becomes crucially significant to tackling this pressing challenge.
About HammerPay
HammerPay (USA) Ltd, a wholly owned subsidiary and brand operated by Hammer Fiber Optics Holdings Corp., is a mobile-first digital technology product, powering stored-value digital services for businesses and consumers, including those previously left outside the digital revolution. HammerPay was developed to scale a highly attractive digital cash/cashless solution to be deployed along with partners around the world, delivering expertise for both developed and developing economies. HammerPay connects mobile consumers to cashless purchasing and bill payments, instantly enabling consumer broad adoption. For more information, contact Investor Relations at info@hammerpay.com.
About Hammer Fiber Optics Holdings Corp.
Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) is a company investing in the future of technology. Hammer has broadened its strategy to focus on the rapidly evolving world of innovative technology and in an effort to keep pace, has restructured the group to allow for the creation of several related verticals. Hammer has entered the Fintech industry which is rapidly becoming the mainstream technology powering today's telecommunication applications. For more information contact Investor Relations at info@hmmrgroup.com.
About EZ Current
EZ-Current, an electricity reseller company based in Liberia, West Africa, RECHARGE Global KWH Meters across the country making it easy to keep the lights on. EZ Current leverages the power of integrated technology and the power of the internet to bridge the gap between the Meter Customer and the Friends and Family in the diaspora making it easy to recharge and keep the lights on. For more information please visit www.ezcurrent.net.
Forward-Looking Statements
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