SmartCard Marketing enters LOI with Primeline for $1 million investment
New York, March 17, 2017 – Today the company announced a Letter of Intent whereas Primeline HK Ltd to invest $1m USD into SmartCard Marketing Systems Inc (OTC:SMKG) for up to 25% of the company’s outstanding Common Class A shares. The company’s share a common focus to develop the Fintech industry channeling ISV’s as the growth conduit for sales.
CEO Massimo Barone stated “We are excited about this partnership with Chris and his team at Primeline HK Ltd which brings investment capital to grow our company’s technology but also by expanding our business relationships throughout Asia with Banks, Telco & Global Enterprise. Our focus has been to accelerate our position and offering in the Fintech & Retail market with both proprietary technology & advisory services. “
Under the terms of the LOI Primeline HK LTD Investment
The company has the right to purchase 1 share for every 8 shares invested for a period of 18 months with a market price PPS discount of 20% with a floor protection PPS of $0.075 USD. In addition the company has a signing bonus of 5millon Stock Options at a PPS of $.065 USD good for 14 months from signing for an additional $325k USD. Additionally with the signing of the LOI Primeline HK Ltd deposited a 1% for $10k USD of the investment.
Fintech Asia Forecasts
- Transaction Value in the “FinTech” market amounts to US$1,404,469m in 2017.
- Transaction Value is expected to show an annual growth rate (CAGR 2017-2021) of 25.1 % resulting in the total amount of US$3,435,877m in 2021.
- The market’s largest segment is the segment “Digital Payments” with a total transaction value of US$1,097,642m in 2017.
- From a global comparison perspective it is shown that the highest transaction value is reached in China (US$1,086,493m in 2017).
source: https://www.statista.com/outlook/295/101/fintech/asia .
About Christopher James Payne
Director – Primeline HK Ltd.
Chris is the Director of Primeline HK where he serves as a Project and Operations Manager holds a B.S. in Marketing from Bentley University and is passionate about his undertakings. Collectively, he and his partners possess years of expertise in banking, payment processing, sales and distribution throughout Asia. Through Primeline HK, Chris aims to deliver a robust mobile payment platform that can be delivered globally to empower its client’s merchants with a flexible solution supplemented with abundant value added services.
Alongside Chris’s involvement in payment, Chris is also the President of Primeline Products Philippines. Primeline Philippines currently operates through the largest department store and mall chains in the Philippines and is home to 9 brands from various industries. Chris’s involvement in Primeline Philippines has provided him experience in sales, brand management, business development, product sourcing, freight forwarding and logistics. Chris is constantly active looking for opportunities to cultivate new relationships to bring added value to projects.
About SmartCard Marketing Systems, Inc.
SmartCard Marketing Systems Inc. (SMKG:OTC) is a Fintech advisory Co & solutions provider to the payments industry, delivering cloud-based EMV Host Acquiring & Issuing solutions to banks, telecoms and enterprise customers. In addition, the company’s in-house lab offers customers proprietary software solutions including Genorocity.com, a coupon and incentive platform for the Retail & Events industry, Check21SAAS.com a Remote Deposit Check solution for X9 clearing and VelocityMWallet.com, a transaction payment ecosystem for alternative payment solutions & processing. For more information, go to www.smartcardmarketingsystems.com .
Source: Company press release.
SmartCard Marketing enters LOI with Primeline for $1 million investment — 10:42:19(CDT)3-17-2017
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