Telupay International Inc (OTCMKTS:TLPY) Signs MOU with Xytrix

There is a significant need for secure and safe mobile banking and related payment solutions in tech-savvy world where theft incidents and online fraud have become a part of personal as well as corporate life. Telupay International Inc (OTCMKTS:TLPY) is a reputed provider company of best in class payment and secure mobile banking solutions in the country. Recently, the company signed an MOU with Xytrix to develop “Tap-Tap” Payment Kiosks.

The details

As per the report, the”Tap-Tap” Payment Kiosks can be defined as self-service centers without any need of manpower. Xytrix is a renowned name for offering hardware that is used in various machines. Telupay’s payment technologies and aggregator services can be used by Filipino consumer to pay bills, get mobile airtime and top-up cards, remittances, prepay for electricity, etc.

The objectives

Telupay intends to establish 1000 kiosk at numerous strategic locations like call centers, BPOs, convenience stores and Philippines EPZAs factories. The selected locations are visited by several people who can use the kiosks to meet their payment needs. Adrian Ansell, the CEO said that the establishment activities of self-service kiosk are vital for company’s strategy to define ‘Tap-Tap’ as a top brand in Philippines.

The operations

Telupay International Inc (OTCMKTS:TLPY) will employ an expert with each payment kiosks so that public can know how the kiosks work? They will get the expert help and will be inclined to use it or their needs. Each kiosk is expected to record minimum 120-150 transactions daily. Dan Evangelista, President of Xytrix, calls the MOU as an amazing opportunity. As per Evangelista, it is a great opportunity for the company to demonstrate its efficacy. It can be a start of long-term association with Telupay. The company’s measure to establish self-service payment kiosks is a step in the right direction. In last trading session, Telupay stock prices declined by more than 8% to close at $0.0319.

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