First Global and Vijaya Bank launch mobile payment service in India

Source: First Global Data Limited

First Global Data Limited ("First Global" or the "Company") is very pleased to announce that its Indian subsidiary MSEWA Software Solution Private Limited ("MSEWA") has launched the Company's mobile payment service with Vijaya Bank (the "Bank") in India under the brand "VPayQwik™".

The VPayQwik™ mobile app is available for download in the Google Play store, and is soon to be available for download in the Apple store. The app presents consumers with multiple in demand services each of which generates revenues for the Bank and First Global.

Vijaya Bank is a large government owned bank that prides itself on offering innovative, technology oriented solutions to its clients. The Bank has more than 14 million active account holders.

"We are delighted that Vijaya Bank has chosen to partner with us", said Andre Itwaru , Chairman and CEO of First Global. Mr. Itwaru added, "The launch was very successful and we are working closely with the Bank with a focus to penetrate their millions of account holders by steadily increasing the number of clients using VPayQwik™, then to increase the velocity of transactions toward our mutual objectives."

Mr. Pankaj Kumar , CEO, MSEWA said, " India has become the second largest smartphone market with over 370 million mobile internet users and according to reports, the mobile wallet market in India is projected to reach US$ 6.6 billion by 2020. Our team is concentrating on delivering a comprehensive ecosystem to our clients & customers under one umbrella. With the uplifting wave of mobile payments which has an effulgent future, VPayQwik will surely be a success."

Mr. Itwaru added, "First Global's strategy has been to partner with organizations with large consumer bases, enable them with our industry leading technology, compliance core and international reach, to jointly deploy services and penetrate their consumer bases over time converting them into regular active users. We continue to work aggressively on this strategy and are experiencing excellent progress." 

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