November 26, 2019 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of a Contract with PASE – the largest electronic tag system for transportation tolls payment throughout Mexico.
The Agreement authorizes Newt to sell the electronic top-ups of the highway tag PASE for credit recharging in Mexico. Additionally, Newt will provide systems that will allow processing of PASE’s payment top ups throughout Newt’s retail network. The agreement provides PASE with the opportunity to offer their products and connections on Newt’s network of electronic products. while allowing Newt’s customers to use the platform for Point of Sale transactions. The new agreement also authorizes Newt to sell PASE tags in its existing locations, such as commercial retail chains, as well as at Banco Azteca, Elektra, Super Q, G500 gas stations, and others.
Newt is now positioned as one of the main sellers of electronic recharge of PASE electronic tag system in Mexico, with uninterrupted high-quality service to its customers.
Sergio Maya Aleman, CEO of Latin America of Newt Corporation, stated: “We are very pleased to have signed this important contract with PASE, as it will generate multiple benefits for the company and our clients. Electronic highway and road payments have increased dramatically in recent years, thus giving Newt a product differentiation with our network of users connected to our platform of products and services.” He added: “The contract also provides Newt with a constant and growing income, generating greater value for our shareholders.”
PASE is the first brand in Mexico that offers an electronic payment method for roads, urban highways and parking lots, as well as a means of control in service yards and modal transfer centers in Mexico. PASE has the main operation model for national toll collection, the largest number of alliances with the banking system, and the TAG sales and recharge network with the greatest presence in the country.
PASE’s transactions are done electronically, offering users greater security, convenience and practicality. PASE’s coverage is nationwide and has a presence in the 13 most important highway corridors in the country and collaborates with 23 operators in 65 highway concessions, representing more than 290 collection spots with more than 2,000 lanes nationwide.
For more information, visit www.pase.com.mx
Newt Corporation is a Canadian Company with subsidiaries in USA, Europe & Mexico, that aims to become a Fintech leader in services of prepaid and bill payment transfers while providing solutions for providers targeting the unbanked market. Utilizing the latest payment processing technologies and partners, Newt provides merchants, consumers, and the unbanked population with cashless mobile payment, bill payment, prepaid products, and other services for mobile devices and Point of Sale locations.
By choosing Newt’s SaaS solutions, users and businesses can take away complex developing internal capabilities of accepting bill payments or point of sales and digital product purchases, allowing merchants a quick and seamless transaction processing, payment acceptance and enhanced digital product line for their businesses in a more secure and efficient way.
Newt’s current platform utilization and client base are expanding in Latin America, thus experiencing an increased growth of businesses using Newts SaaS software solutions. With recent top enterprise companies looking for mobile wallet solutions and new processing
capabilities, Newt’s portfolio of services is expanding. Newt’s next generation payment transfer solutions use new methods for payments, digital transfers, and bill payment in a mobile application. The company’s platform has been designed from the ground up for modern digital transfers with an ecosystem with full configurability, open API integration, and enhanced value-added services, and has expanded its B2B market to retailers, money transfer services, and financial institutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
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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.