Proxama PLC (AIM: PROX), the global platform provider of mobile proximity marketing, mobile wallet and payment solutions, Valid (BM&FBovespa: VLID3), a leading provider of payment solutions, identification and telecommunication systems for the Latin and South American markets, have signed a three year exclusive license and distribution agreement.
Under the terms of the agreement, VALID will integrate Proxama's TapPoint® suite of mobile wallet, mobile marketing and loyalty applications into VALID's offer to key customers in the region. These include leading banks and mobile network operators throughout the fast growing Latin and South American markets.
Proxama's technology compliments VALID's core business of bank card production, chips and GSM phone cards. This agreement with Proxama gives VALID access to Proxama's TapPoint® technology platform to help open up new digital channels, whilst increasing Proxama's global reach into a large growth market.
Brazil alone currently boasts 47million smartphone users, which makes it the fourth largest country for sales behind China, India and the US, according to research firm, Mediacells. This, combined with the fact the whole region leapfrogged ecommerce as a technology, makes it a fertile market for using smartphones for the entire commerce cycle.
Neil Garner, CEO of Proxama, said: "We are delighted to have entered into this partnership with VALID. The fast growing Latin and South America regions are a really exciting opportunity for us to further expand our global ambitions. VALID are the perfect partner; a highly respected business across the region with real ambition to be a market leader in mobile."
"The agreement is a strong affirmation of Proxama's strategy and capabilities in the mobile marketing and mobile wallet market and marks another key expansion of our business globally."
Jose Roberto Mauro, CEO of VALID, said: "Smartphone users in Latin and South American are interested in using their smartphones for more than just surfing the internet and making calls. Contactless payments are growing fast in the region. Valid's integrated solution offers mobile engagement, combining couponing, loyalty and benefit cards as part of a mobile wallet solution which makes sense for many of our customers."
"Adding Proxama's TapPoint® platform and technologies to our offering will help us continue to move our customers into the opportunity-filled digital world."