Upco International Inc. Developing UpcoPay to Address the Multi Trillion Dollar Digital Payment Industry
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2019) - Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) ("Upco") is pleased to announce that it is continuing to develop UpcoPay, an innovative, highly secure and convenient eWallet solution to address the multi trillion dollar digital payment industry.
Upco has signed its first agreement with SixthContinent Inc. www.sixthcontinent.com SixthContinent, with offices in San Francisco, Ca, and Milan, Italy, is the largest international platform for Shopping Cards. The company has agreements with more than 3000 leading brands (including Walmart, Apple, Amazon, Carrefour, and IKEA, Adidas and Shell Oil), and is fast becoming a major player in the expanding Social Commerce market.
UpcoPay is an advanced eWallet system comprising a front-end app and robust back-end software to manage transaction tracking, reporting and a full range of other functions. This solution is based on live transaction processing through integration with Upco's banking partner, eMoney plc. Upco anticipates to have UpcoPay live by mid April.
Mr. Andrea Pagani, CEO and President of Upco stated: "the digital commerce market place is growing tremendously. PayPal www.paypal.com CEO has stated that the digital payments industry may become a $100 trillion market as the financial technology sector continues to grow rapidly. We want to position Upco as a major player in this space."
Statista estimated total transaction Value in the Digital Payments segment amounts to US$3,952 Billion (US$3.9 Trillion) in 2019 and is expected to show an annual growth rate (CAGR 2019-2022) of 13.2% resulting in the total amount of US$5,728 Billion (US$5.7 Trillion) by 2022.
Upco has issued 300,000 stock options exercisiable at $0.10 to consultants and advisors.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
212 461 3676
Trent Collett, Investor Relations
778 808 1175
AD MIRABILIA - PR and Marketing Communication Agency (Italy)
+39 02 43 82 191
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Such factors include continued availability of capital and financing and general economic, market or business conditions.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that statements containing forward looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing forward looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43075