ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a penny stock that went from zero volume prior to the corporate update, to half a million a day in April – and shares moved from $1.50 to $2.30 in the last few weeks of trading.
These volume spurts are leading to price appreciation, and along with the volume come the day traders who are piggy backing these momentum plays. The company launched its enhanced Mobile Money Platform during March 2017. The platform provides personal financial solutions including international remittance, direct bank loading, transfers, direct payroll deposit and peer to peer payment.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) expects to have its mobile application available on the App Store on Apple® mobile devices and the Google Play Store for all Android devices.
Rob Lee, Chief Executive Officer commented, “We are extremely pleased about the imminent launch of our enhanced platform and are looking forward to achieving this important milestone. Our comprehensive financial Mobile Money Platform is a critical base in driving our diverse revenue stream going forward.”
Also on the recent docket the Company said in a press release that it has entered into to a sales agent agreement with SYNNEX Canada Limited a wholly-owned subsidiary of SYNNEX Corporation a distributor of technology products to resellers and system builders across Canada.
The agreement should benefit Zoompass by giving direct access to those channels for cross-selling opportunities. Through this partnership, Synnex will gain access to Zoompass’ expertise and established relationships with original equipment manufacturers and mobile virtual network operations and other channel opportunities according to the company.
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As part of the recent announcement the company agreed to a marketing partnership with SKY Devices LLC to provide international brand exposure into expanding markets and key retailers. “SKY is a fast growing mobile manufacturer developing smartphones with premium quality modern designs and robust performance”. This partnership is in line with our strategy of being a unique integrated fintech company by bridging mobility with a global mobile money platform.
Zoompass has entered into an agreement with U-Vend Group to fit U-Vend Group vending solutions with mobility products and provide North American brand exposure into key markets and retailers. U-Vend Group owns and operates kiosks and has partnered with numerous national consumer product companies to deliver new and innovative customer retail experiences in automated “frictionless” settings. The Company is well positioned to sell U-Vend Group solutions within Canada, USA and Mexico by leveraging its existing relationships and network within the national retailer, airport and mall channels. The offering will leverage a “Grab and Go” model where consumers can use their credit card in a vending machine to purchase mobility devices and products.
Zoompass is also pleased to announce that through its alliance with Home Trust, the launch of an onsite credit program with retail chain Giant Tiger. Giant Tiger was founded in 1961 and is Canadian owned and operated. The privately held, franchise based company, has over 200 stores in eight provinces, with many more opening, and employs over 7,000 team members. This program combines Zoompass’ core competencies with its ability to facilitate the offering of credit facilities through its partners.
The success of the launch hinged on the ability to offer “on-the-spot” quick credit approval for customers. This was accomplished utilizing Zoompass’ mobile money platform in conjunction with Home Trust’s credit and adjudication facilities. In total, consumers are on-boarded in under 5 minutes and are approved in under 20 seconds.
Time needs to pass to determine if Zoompass Holdings Inc. (OTCMKTS:ZPAS) can hold the current market cap. These momentum plays often have short term holders, and when the music stops the stock gets volatile. Any stock that has this blip in volume is vulnerable to volatility and ZPAS will be no different, I would look closely at the filings, or solid indications from the company where you can determine if the revenue is a steady stream, this always smooths volatility. 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!