ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a penny play that has captivated the OTC trading crowd as the stock flies higher. This is now officially in nosebleed territory for new investors, so it’s very interesting to see dollar volume still very much on the rise. The latest catalyst out of the company provides some insight into the motivation behind buyers. Specifically, the company recently announced an exclusive partnership with Canadian-based UVend Group of Companies (UVG) to place UVG Digital Self-Serve Kiosk solutions with mobility cell phones and accessories into key markets and high volume retail locations.
According to the release, the partnership follows Zoompass’s strategy of being a unique integrated fintech company by bridging mobility with a global mobile money platform. The company notes that, due to this arrangement, it is “well positioned to use UVG’s tech savvy self-serve solutions within a global reach by leveraging its existing relationships and network within the national retailer, airport, and mall channels.”
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) bills itself as a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions.
In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa and MasterCard prepaid and virtual card accounts.
Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts.
The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. Zoompass’s mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings.
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The company finds itself at the nexus between retail and finance, two red hot segments when it comes to innovation at present. The concepts at stake are hugely important for how consumers make decisions and negotiate the process of applying money to decision-making in a 21st-century world. This is truly a wide open playing field.
We can’t be sure that ZPAS will end up “for real”, and a healthy dose of caution is always warranted when a new company hits the OTC with this kind of momentum. But there isn’t anything wrong with the idea, as far as it goes and in the abstract. Management is obviously excited.
“UVG is very excited that Zoompass has selected us as their Self-Serve Digital Kiosk partner. The concept will allow our technology to retail Zoompass and partner devices/accessories in high volume locations and on a global basis,” says Paul Neelin, Founder of Burlington, Ontario-based UVG.
Zoompass President Steve Roberts echoed this sentiment, “UVend Group of Companies is Canadian based and is definitely the ‘best of breed’ when it comes to next generation Digital, self-serve kiosks for the resale of devices and accessories. It follows the trend for retailers’ needs of reducing staff costs as well as reducing overall theft of mobility devices and products as a whole. We look forward to working with UVG on an international basis in both traditional and non-traditional locations.”
The chart shows 95% added to share values of the company over the past month of action. Market participants may want to pay attention to this stock. Moreover, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 13% above the average volume levels in play in this stock over the longer term.
At this time, carrying a capital value in the market of $132.4M, ZPAS has about $2.4M in reported cash on the books alongside $2.3M in reported total current liabilities. In addition, ZPAS is pulling in trailing 12-month revenues of $88K. The company is seeing major top line growth, with y/y quarterly revenues growing at 6646.5%, which is likely the single most important point in support of the current powerful trend. We will update the story again soon as developments transpire. For continuing coverage on shares of $ZPAS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!