Lynx Global's DA5 Integrates with Major Philippine Telco e-Wallet
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2021) - Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company") today announces its subsidiary Direct Agent 5 Inc. ("DA5"), has launched a technology integration with PayMaya Philippines ("PayMaya"), a subsidiary of Voyager Innovations ("Voyager"), the digital innovations company of PLDT and Smart.
By integrating into the PayMaya e-Wallet, DA5 further expands its services by digitizing cash in/cash out transactions to PayMaya's 28 million users. This integration of the two systems will provide both DA5 and PayMaya users with a seamless digital experience from the mobile network through to the local cash transaction.
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"We are proud to have partnered with PayMaya to access their nationwide customer base, to provide the DA5 payment solutions. Together we will work towards our shared goal of providing seamless financial services to the Philippine population which is largely unbanked or underbanked . This DA5 and PayMaya technology partnership now allows Filipinos throughout the Country (representing a market of nearly 110 million people) to utilize DA5 directly to load funds to PayMaya," stated Raymond Babst, CEO of DA5.
These joint initiatives further support the goals of the Bangko Sentral ng Pilipinas ("The Philippines Central Bank"), to increase the share of digital payments to 50% of all retail transactions and expand financial inclusion to 70 percent of Filipino adults by 2023, as part of its Digital Payments Transformation Roadmap 2020-2023.
In a recent interview with inquirer.net, PayMaya President Shailesh Baidwan highlighted the important role that, "collaborations such as this will play in the future of digital financial services. This radical shift to cashless for the Philippines will only continue accelerating in 2021 as we offer more services and forge more enterprise partnerships that are relevant for many consumers."
"PLDT, a major telecom in the Philippines, alongside of Kravis Kohlberg Roberts ("KKR"), a Global investment firm, Tencent (the China-based internet giant), and IFC, (a member of the World Bank Group) have acted as the principal investment group of Voyager, according to FINTECHNEWS Philippines.
PayMaya provides more than 28 million Filipinos with access to financial services through its consumer platforms. Customers can conveniently pay, add money, cash out, or remit through its over 250,000 digital touchpoints nationwide. Its Smart Padala by PayMaya network of over 39,000 partner agent touchpoints nationwide serves as last-mile digital financial hubs in communities, providing the unbanked and underserved with access to digital services.
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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