Lynx Global Subsidiary DA5 Announces Partnership with Globe Telecom's GCash
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company") is pleased to declare that its subsidiary Direct Agent 5 Inc. ("DA5"), has completed integration of the GCash ewallet ("GCash") into the DA5 physical location infrastructure and each of its two (2) mobile app platforms. Based on 'App Annie' surveys, an authority in ranking digital applications (apps) worldwide, GCash has become the Philippines number one finance app and stands among the top apps in the country overall for both Android and iOS platforms.
As told by the Philippines News Agency, February 15, 2021, Mynt, the operator of GCash and a subsidiary of Globe Telecom Inc., stated "its base of registered users has grown to over 33 million at the end of 2020 -- 65 percent higher compared to 20 million users recorded at end of 2019. GCash exceeded its targets in 2020 with transaction values hitting over PHP1 trillion, peaking at a PHP7.5 billion daily gross transaction value, and with more than 6 million transactions in a day. Transactions include cash-ins, payments, banking, and money transfer, among others."
Christopher Aldaba, President of Asia-Pacific for Lynx Global stated, "The capabilities provided by the DA5 network fit perfectly to service the needs of GCash. The 2,350 ever-expanding domestic physical brick and mortar DA5 branches offer GCash countrywide geographic coverage for its users to access cash-in/cash-out locations for offline transactions. Both the DA5 mobile app and the recently launched 'Swipe' app provide GCash with platform solutions to facilitate GCash for online and mobile ewallet transactions. With the recent and rapid integration of the DA5 'rails' to international physical locations around the World, GCash can now have its ewallet utilized by Filipinos physical cash-in/cash-out or digital or mobile ewallet transactions in those international markets where DA5 has integrated its network infrastructure - for the first time to my knowledge, our DA5 partnership can assist GCash to go global."
"As I explained recently, since joining Lynx Global I have already directly expanded my brand to Vietnam, Canada, Australia, and Singapore. Additionally, I announced a recent partnership that gives DA5 the ability to integrate the DA5 financial rails and the DA5 mobile app into an additional global network of over 320,000 physical cash-in/cash-out locations. This partnership with GCash provides substantial potential mutual benefits. GCash is without a doubt the most widely used ewallet in the Philippines today. DA5 is aggressively expanding to international markets, and in doing so, our global integrations can offer GCash the platform to expand its footprint globally - it is a true win-win for GCash and DA5 - we are without question a pair of truly innovative world-class Philippine companies," shared Raymond Babst, Founder and CEO of DA5.
According to a report by ResearchandMarkets.com, the mobile wallet market size was valued in excess of $1 Trillion USD in 2019 and is projected to reach over $7.5 Trillion USD by 2027, growing at a CAGR of 28.2% from 2020 to 2027.
As reported by Statista on May 12, 2021, in 2020, digital and mobile wallets accounted for roughly 45 percent of global e-commerce payment transactions, making the digital wallet by far the most popular online payment method worldwide. This share is set to increase to over 50 percent in 2024. Digital and mobile wallets were globally the leading choice when buying online - for instance, the digital or mobile wallet was most popular in the Asia Pacific Region, where it accounted for approximately 60 percent of e-commerce transactions in 2020.
ABOUT LYNX DIGITAL GLOBAL FINANCE:
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions and other B2B industry partners by way of integration to the Lynx digital payment platform. The Company's payment solutions are powered by a broad suite of payment technologies and services. The Company has targeted banking and fintech relationships in ASEAN and Oceania, a region with a population approaching 700 million, that can provide Lynx a financial network hub location to service and operate a global traditional and digital financial infrastructure. By working with selected banking and/or licensed EMI partners, the Company will be able to offer a digital payment platform with a full suite of payment solutions, which may include merchant acquiring solutions; card issuing; remittance and forex; and custodial digital asset services, including digital wallet services. The Company seeks organic growth while investigating potential strategic acquisitions that may contribute critical technology applications, additional services, and revenue streams, and that can complement or enhance existing offerings and potentially increase or expedite the path to future profitability. While Lynx believes that significant near-term opportunities exist for the Company's strategic initiatives, there can be no assurance that goals and objectives will be reached or that any such underlying efforts or agreements will provide successful or positive outcomes should they be implemented.
For more information, please contact:
Michael Penner, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation, including the described initiatives of DA5 and the goals and objectives of Lynx. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events, or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lynx to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures, other costs, or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. There can be no assurance that such statements 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 forward-looking statements and information. Lynx will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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