Lynx Global Subsidiary DA5 Announces Worldwide Technology Integration Agreement with Pipit
Lynx Global Subsidiary DA5 Announces
Worldwide Technology Integration Agreement
with Pipit
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2021) -
Lynx Global Digital Finance
Corporation
(CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0)
("Lynx" or the "Company")
is
pleased to announce that its subsidiary
Direct Agent 5 Inc. ("DA5"),
has entered into a strategic global
technology partnership agreement with
Pipit Global ("Pipit")
. The active Pipit network will now provide
DA5 the ability to leverage over 320,000 integrated physical cash-in/cash-out settlement facilities and
locations at post offices, kiosks, ATM's, agent and retail locations throughout North & South America,
Europe, Africa & Asia.
Pipit offers DA5 and the Lynx Network integration to an International B2B Cash Payments Platform. With
this platform, the unbanked (52% of the world's population) can transact internationally, digitally, online
with cash. Without the need of a bank account, the unbanked now have the ability to send and receive
cash, make payments, send remittances, and load an ewallet. This technology integration agreement
opens up the global cash market for online merchants, not just domestically, but worldwide.
Globally, the equivalent to US$7.6 trillion cash is in circulation. In 40 of 42 major economies - from
Europe and Asia to Latin America and the United States - the growth of cash in circulation outpaced
economic growth over the last 10 years.
With the DA5 and Pipit agreement now solidified, it provides for the deployment and integration of the
DA5 traditional remittance rails and the DA5 Mobile App and eWallet throughout the Pipit Global
integrated network.
"From the Pipit Global perspective," stated Ollie Walsh, CEO of Pipit, "The partnership with DA5 is
perfect in terms of achieving our stated corporate mission, to help the global unbanked population to
support their financially underserved families at home and abroad, in a cheaper and safer way. By
working with DA5, we can make a significant impact by helping people with the huge trans-global
movements of cash they need to send, by enabling for them a low cost and reliable source to load and
disburse their cash. The DA5 model will improve this service dramatically by enabling consumers to
deposit cash and then make ecommerce transactions from the DA5 ewallet."
According to Ray Babst, CEO of DA5, "This technology platform integration with Pipit, is yet another
step in the evolution of the goals I had set forth for DA5 when I founded the Company 15 years ago.
It has
always been my desire to build an international brand and network - since the recent acquisition to
become a member of the Lynx Global organization, I have already directly expanded my brand to
Vietnam, Canada, Australia, and Singapore.
With this exciting partnership with Pipit, we can now take
the DA5 brand name all around the World and provide ourselves with capability to digitize the global
cash markets.
I consider myself an expert in the '
cash
' business have focused on supporting massive
remittance and forex transactional volumes since I began DA5, so the ability to now integrate the DA5
remittance rails and the DA5 mobile app into the Pipit network touching over 320,000 physical cash-
in/cash-out locations, really is a monumental achievement."
Morocco, Vietnam, Egypt, Philippines, Mexico: these are the top 5 countries, according to a just-
released study by the British research platform Merchant Machine, where the unbanked population is the
largest. On a global level, the regions with the highest proportion of developing or emerging economies,
quite predictably, top the list: in the Middle East and Africa the 50% of the population is financially
excluded, South and Central America follow at 38%, Eastern Europe and the former Soviet republics at
33%, Asia Pacific's share stands at 24%. While the ecommerce market is growing rapidly - Mexico is
projected to be the 8th largest ecommerce market in the world by 2023.
A survey released last year by the central bank of the Philippines-explains why. With over 50 million
individuals unbanked out of a total adult population of 72 million, the bank reported, almost half of them
(45%) mentioned the lack of enough money as the top reason for not qualifying to have an account.
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
(604) 396-9974
www.lynxglobal.io
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/85968