Lynx Pan-Global Payment Network Processes US$78 Million in Its First Full 60 Days of Operation
Lynx Pan-Global Payment Network Processes
US$78 Million in Its First Full 60 Days of
Operation
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2021) -
Lynx Global Digital Finance
Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company")
is
pleased to provide further
guidance to the worldwide business and investment community. Since
implementing its corporate acquisition growth strategy early this year, Lynx Global has successfully
acquired four companies in Southeast Asia and Australia.
The Company has since integrated these four
businesses, into a streamlined unified global payment network.
Direct Agent 5 Inc., the Company's
flagship acquisition has processed a total transaction volume of US$200 million since the beginning of
2021 - By combining the portfolio of payment licenses, services, technologies, product offerings and
partnerships offered by the various entities (now subsidiaries), the management team of Lynx Global has
successfully achieved the first phase of its mission statement:
"To build a single digital payment ecosystem that can link all individuals and businesses in
underbanked and underserved emerging markets to the local and global economy"
The Company's operational hub is centred in Southeast Asia and Oceania.
The region is recognized
and well documented the most attractive growth market for digital payments.
Management's strategy to
create a single platform that has the licenses and technology infrastructure to enable any business to
connect to the digital economy is beginning to bear fruit.
In a recent study completed by Google, Temasak and Bain and Company,
"e-Economy SEA 2020 - At
full velocity: resilient and racing ahead
" they highlighted the following.
40 million new users have recently gained access to the internet
70% of the region's population in now online
Digital Gross Transaction Value will almost double in the next five years growing from $620 billion
in 2020 to $1.2 Trillion in 2025
The Company is organizing its operations around vertically integrated payment offerings which are
required to digitize cash and payments and seamlessly integrate traditional businesses and digital
businesses in servicing of the global economy.
Operations and services for revenue growth are
organized as follows:
B2B/B2C - Cash in/Cash out, Remittance, Forex and Cryptocurrency
Merchant acquiring - processing credit card payments on behalf of ISO's, Other PSP's,
Aggregators, and/or large merchant clientele
Card issuing - providing businesses with branded physical or virtual card solutions
Digital asset management and custodial services
The Company generates revenues by charging either a fee per transaction, or a percentage of the
transaction value and further benefits from foreign exchange revenues.
OUR SUBSIDIARIES - TODAY
Direct Agent 5 Inc. ("DA5")
(Philippines and Australia) {
Australia formerly Arkin Technologies
}
DA5 is Lynx Global's BRB and B2C facilitator of cash in/cash out transactions inclusive of remittance,
forex, and cryptocurrency.
DA5's national network of cash in/cash out locations combined with its management and settlement
middleware software platform provides the Philippines, a market with a 70% unbanked and
underbanked population with the critical entry layer required to convert the 80% cash-based economy to
a digital economy.
Since acquiring DA5, the company has expanded its presence outside of the
Philippines to become an international brand with its recent integrations to Pipit Global (worldwide
payout network) and FinFan (Vietnam's largest remittance service provider).
The Company's
Management has also renamed Arkin Technologies Pty. Ltd., to Direct Agent 5 Pty. Ltd. (DA5 Australia),
to expand the brand.
With Australia and the Philippines now operating under the same brand and
technology platform, Lynx Global's licensed remittance, forex and cryptocurrency services are now
available in multiple countries in the region.
DA5 has successfully expanded its service and future revenue streams by integrating to several other
digital wallets and services. These additions will offer local businesses and consumers multiple ways to
successfully digitize their cash.
In the past two months DA5 has successfully expanded its market reach
and product and service offerings and continues building a strong engine to grow future revenues in its
quest to become a recognized global leading solutions provider for in remittance, forex, and
cryptocurrency.
Payright Pte. Ltd. ("Payright")
Euromonitor along with Credit Suisse, forecasted in January 2020, that of the $240 Trillion Total
Addressable Global payments market, only 13% of these transactions were carried out across global
network cards, representing approximately $30 trillion of value exchanged.
The same report went on to
state that Lynx's target market of APAC would see the greatest and most rapid increase in card usage
and growth anywhere in the World through 2023 with a CAGR in excess of 14%.
Payright is focused on servicing the global card issuing market by providing a card management system
and platform to connect business to the world's payment infrastructure through one API. A modular,
customizable solution for Pay In, Pay Out and Card-Issuance allows banks, other payment providers,
corporate clients, and businesses to issue of physical and virtual cards branded cards globally. The
branded cards offer the capability to provide their user base with a functional solution to load, collect and
disburse funds in local currencies to over 100 countries. This modern holistic payment solution offers
multiple issuing and processing innovations, including open APIs, JIT Funding, and Tokenization as a
Service.
Payright has obtained direct working relationships with global card issuing partners, and now has
identified and is finalizing a number of client use cases covering a diversity of industry sector
opportunities whereby Payright will provide Custom Branded cards to clients seeking to implement
seamless innovative global pay out disbursement solutions.
Vasu International Payment Solutions Inc. ("Vasu")
Vasu is dedicated to providing clients with high-quality and customized credit card processing services,
particularly high-risk ones. It is an enterprise-focused business, offering to global customers payment
processing and technology solutions and infrastructure particularly targeting large global merchants,
payment aggregators, or other payment solution providers that operate in different verticals and
geographies. Some of its key verticals include retail, streaming, travel, cryptocurrency, and licensed
regulated gaming.
Vasu has executed and secured a long-term agreement with a recognized registered Independent Sales
Organization (the "ISO"). The ISO facilitates billions of dollars of annualized total payment processing
volume for thousands of merchants worldwide. As part of its continual strategy to expand and diversify its
payment processing networks the ISO determined in its best interests to engage Vasu and its evolving
global payment processing network services.
Vasu has now already begun the merchant onboarding process of certain of the ISO clients within the
Vasu processing infrastructure an expects that no later than the beginning of Q4 (August 2021), Vasu will
begin to process transactions for the ISO.
Each of Vasu and Payright have exclusive strategic partnerships with either of an Electronic Money
Issuer ("EMI") and Major Payments Institution ("MPI") license holders, in the Philippines and Singapore,
respectively.
Combined with its payment technology partner each of these Lynx Global subsidiaries is
preparing to be one of a small and specialized and worldwide reputed companies actually offering
merchant acquiring and card issuing services in multiple countries.
By adding and implementing these payment services to an integrated global network Lynx will offer
global e-commerce and local businesses with the capability to directly connect to each other and play a
major role in the growth of digital payments in the market.
Michael Penner, CEO of Lynx Global added, "Although the adoption of payments to online and digital
channels has become an area of significant focus due to the Covid-19 pandemic, a majority of global
monetary transactions in particular those servicing the underserved and the underbanked are facilitated
by way of cash or other traditional pathways. We have seen this as a tremendous opportunity and found
our niche - rather than trying to separate and focus entirely on the "switch to digital" - we instead have
seen the greatest opportunity in the streamlining the interconnection between the old and the new/ the
tradition and the digital.
Our payment network infrastructure and the vertical elements it supports, in turn
opens up the market to be used by any individual or business in the World, no matter of their size or
status.
if one wishes to transact whether by card, cash or cryptocurrency, and whether mobile, online or in
person, we have a simple and effective solution.
We look forward to continuing to expand our network as
we move it towards fulfillment of the realization of our overall goal to continually improve business
and
cost efficacy through the introduction and facilitation of cutting-edge financial technology solutions."
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,
DA5 Australia, Vasu and Payright and the absolute goals and objectives of Lynx.
The economic
materiality of the agreement(s) between DA5, DA5 Australia, Vasu or Payright, and any of the parties
referenced or connected to any of these companies herein, is unknown due to the contingent nature of
results that may be generated. At this point in time, Lynx considers the described business
relationships unlikely to yield a substantial short-term economic benefit for Lynx or the subsidiaries,
however, Lynx and each subsidiary considers that the described business relationships support the
organizations strategic growth plans.
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/88244