Fintech News

Mobi724 Global Solutions Acts to Maintain Progress During Unprecedented Global Economic Slowdown

GSMA Report Highlights That Mobile Money Accounts Now Exceed One Billion Worldwide

Mobi724 Global Solutions, a fintech company that offers a suite of integrated technology-agnostic, BI & AI powered card-linked offers & reward solutions announces, that in light  of the effects of COVID-19 pandemic on businesses around the world including in particular the retail, travel and banking sectors, Mobi724 is implementing a contingency plan, which involves a temporarily lay-off of members of its product customization team in Canada for 30 days.

Read More: Former U.S. Secretary of Commerce, Penny Pritzker, Doubles Down on Payments Infrastructure Pioneer Finix

The Company has made a strategic decision intended to optimize cash flows and to preserve long-term shareholder value. The Company’s existing portfolio of clients will continue to receive uninterrupted service as they will continue to be served by team members located in Montreal and Buenos Aires; all of whom are working remotely. Team members affected by this temporary lay-off will remain employees of Mobi724 and can be called back to work with 1-week prior notice.

Read More: Celsius Network and Prime Trust partner to secure depositors funds and offer low-cost credit

“As the situation with COVID-19 continues to evolve day-to-day in Canada, and across the globe, Mobi724 is focusing on protecting the health and safety of its team members and preserving and continue to work on enhancing long-term shareholder value,” stated Marcel Vienneau, CEO of Mobi724. “The extraordinary and necessary measures being implemented by relevant local authorities will detrimentally affect productivity levels across all sectors in the coming weeks. We keep serving our valued clients during these turbulent times, while in parallel continuing to advance business development efforts in multiple geographies.”

Read More: Executives Explore Disruptions in Fraud Trends, Securing Online Channels and Mobility Payments in Transit

Related posts

GlobalFintechSeries Interview with Shaun Puckrin, Chief Product Officer at Global Processing Services (GPS)

Paroma Sen

Peak Trust Selects Keeper’s Robust Zero-Knowledge Architecture to Secure Clients’ Confidential Financial Information

Fintech News Desk

Companies in Disability Inclusion Lead

Business Wire
1