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

Telupay International Inc (OTCMKTS:TLPY) signed an MOU deal with Xytrix Systems Corporation to develop self-service payment kiosks. TelUPay will offer its payment technologies as well as its aggregator services to allow Filipino customers to pay bills and buy mobile airtime, top-up value cards for restaurants, transit systems, and convenience stores. The other service includes working on remittances via national remittance operators and purchase prepaid electricity. Xytrix will offer the hardware under the deal.

The objective

Telupay intends to deploy almost 1,000 payment kiosks by the second quarter 2016. The target locations are BPO’s, the Philippines EPZAs factories, convenience stores and call centers. It wants the services to reach millions of Filipino workers.

The management view

Mr. Adrian Ansell, the CEO of TelUPay said that the deployment of payment kiosks is an integral part of company’s strategy in promoting TelUPay’s ‘Tap-Tap’ service in the region. Each kiosk installed will be accompanied by a representative to explain the services to the Filipino community. Once customers know about it, each kiosk is expected to report almost 120 to 150 transactions a day. Dan Evangelista, the President of Xytrix, said that the management is delighted to be the manufacturer for TelUPay’s payment kiosks. Xytrix was incorporated in 1999. The main product lines are 3M visual systems and Imation Data Storage Products. It offers its core products to a number of industries including Telecoms, Public Utilities, Manufacturing, Banking, Government, and Education.

The profile

Telupay International Inc (OTCMKTS:TLPY) is a leading developer of next generation of mobile banking and payments technology designed especially for banks, micro-finance, mobile operators, credit card companies, and other financial institutions. It provides customized services and develops new apps and services that result in new revenue streams for its customers. It utilizes the secure encryption technology for both the end-user and the bank. The services include bill payments, merchant payments, fund transfers, P2P remittances and many others.

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