July 13, 2022 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of a service agreement with DAPP (Melandas Payments, SAPI de CV) in Mexico City, Mexico.
Under the terms of the agreement, Newt will implement QR payment functionality through the DAPP network, which will allow Newt to receive cash deposits at multiple banks in Mexico and to increase its footprint of servicing loan customers, SMBs, and enterprises. Newt anticipates a volume increase of cash uploads from customers on its platform as a result of this integration.
DAPP is the standard for QR-code solutions with its unique interoperable network in Mexico, integrating electronic methods of payment and encompassing banks, businesses, and wallets. Currently, the DAPP network connects more than 18 million users through various banks and institutions using non-bank digital wallets. The network includes an additional 20,000 connected businesses through banking institutions, aggregators, and software companies that enable QR-code payment collection for their customers.
Examples of the institutions that are utilizing the DAPP network include names such as CitiBanamex, BanCoppel, BanRegio, and Banco Azteca. It is estimated that collectively they have over 30 million users.
Sergio Maya Aleman, CEO of Latin America of Newt, stated: “With DAPP’s integrated capabilities, Newt can add a substantial number of points of sale to its network, and can receive deposits from users and potential customers at various banks in a direct and immediate manner. We are continuously evaluating new technology and networks to improve our platform, always focusing our efforts on providing the best options in the segments we serve.”
About Newt
Newt Corporation is a digital payment and financial services platform enabling enterprises to serve the large underbanked population in the Americas with digital financial products and services and access to credit. Newt provides a fairer, faster, accessible ecosystem that fills the credit accessibility gap and reshapes the way businesses and consumers save, move money and conduct commerce. The Company’s financial ecosystem offers mobile and digital bill payments, cross-border money transfers, digital wallet, prepaid stored value cards, and access to a large leading catalog of digital gift cards and subscription services. Newt’s omnichannel distribution and processing capability allows consumers to conveniently connect through mobile, web, point-of-sale and Newt branded electronic payment center kiosks located across a network of merchant locations. Newt is also bringing credit financing for small to medium sized enterprises, payroll loans for consumers, credit cards, loan financing, and other credit services for those who lack access to traditional financing.
For more information, visit www.NewtFinancial.com
About DAPP
DAPP is a 100% Mexican startup that connects payers with merchants that don’t have a relationship between them. DAPP is a Fintech company that has an innovative platform to reduce costs of transactions, enhance security and customer experience. DAPP has been adding new players into their network, which already counts more than 20 thousand merchants and 6 compatible wallets that aggregate over 18 million users. DAPP is integrating mobile wallets in the market for massive access to points of sale and the acceptance of additional payment methods to merchants.
For more information, visit https://dapp.mx/en
Contact
Investor Relations
investors@getnewt.com
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.
