QPAGOS Expands Cash2Digital Kiosks into Mexico City's vast Metro System
Mexico City's METRO is considered among the 8th largest in the World
MEXICO CITY, MEXICO -- (Marketwired) -- 01/27/17 --  QPAGOS Corp.
(OTCQB: QPAG), a U.S.-based provider of digital payment services for
cash-based and unbanked consumers in Mexico, today announced the
expansion of its network of self-service kiosks into Mexico City's
Metro System, formally known as Sistema de Transporte Colectivo
With 12 lines covering 226 Km., and over 180 stations Mexico City's
Metro System carries over 1.6 billion passengers per year, or an
average of over 4 million per day, and is considered among the
world's eighth largest.
Pursuant to permits issued by STC to QPAGOS' wholly owned subsidiary
REDPAG Electronicos, SAPI de CV, three kiosks were installed today in
Observatorio station. Observatorio is one of Metro's busiest stations
with average daily passengers of 77,205, as per STC data of 2016.
Metro passengers, in addition to topping up their mobile phones in an
expedient and secure manner, will now also be able to make multiple
payments in Qpagos' kiosks, including bill payments for utilities,
municipal payments to the City of Mexico and other States, and
several others payments such as CableTV subscriptions.
"Our expansion into the vast Metro System is something we have been
anticipating with enthusiasm as we are eager to bring payment
services closer to the consumer and allow them to make their service
payments in the locations they visit most frequently," commented CEO
Gaston Pereira. "The plan is to expand into the other stations as we
continue to secure these permits from the STC."
U.S based QPAGOS delivers state-of-the-art digital payment services
to consumers and service providers in Mexico where 60% of the adult
population does not have a bank account and where 80% of personal
payments are made in cash. It operates a network of self service
kiosks and applications that provides more convenient payment
alternatives for consumers and more efficient billing for service
providers. www.qpagos.com
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements other than statement of historical fact contained in this
press release are forward-looking statements. In some case,
forward-looking statements can be identified by terminology such as
"anticipate," "believe," "can," "continue," "could," "estimate,
"expect," "intend," "may," "plan," "potential," "predict," "project,"
"should," or "will" or the or the negative of these terms or other
comparable terminology and include statements regarding plans to
expand nationwide, generate revenue streams and become a leader in
the electronic bill payments market in Mexico. These forward-looking
statements are based on management's expectations and assumptions as
of the date of the press release and are subject to a number of risks
and uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause actual
results to differ materially from current expectation include, among
others, our ability to continue to grow and execute our business
plan, our ability to generate revenue streams from user fees, service
provider fees, franchisee fees, rental/management fees and
advertising fees and the other risks outlined under "Risk Factors" in
QPAGOS' Current Report on Form 8-K dated May 13, 2016 and its other
filings with the SEC, including subsequent periodic reports on Forms
10-Q and 8-K. The information in this release is provided only as of
the date of this release, and we undertake no obligation to update
any forward-looking statements contained in this release on account
of new information, future events, or otherwise, except as required
by law.
For investor inquiries please call (888) 238-1466 (+1-881-238-1466
for international callers) or email investors@qpagos.com
For business inquiries please call
(844) 470-5531
or email info@qpagos.com