August 2, 2021 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce that is has been selected as the winning bid under a Request for Proposal with Altan Redes (“Altan”), a consortium of Telecom Operators in Mexico City, Mexico.
Under the terms of the agreement, Newt, through its Mexican subsidiary, will become the exclusive network provider of payment services for mobile users in voice and data for B2C and B2B2C networks in Mexico with Altan, a consortium of Telecom Operators, www.altanredes.com.
Altan Redes is a Mexican company responsible for designing, developing, and operating Red Compartida (“Shared Network”), a MVNO (Mobile Virtual Network Operator) Network of 20 million users in Mexico. This “Shared Network” is a modern 4.5G mobile voice and data broadband network, which, with its greater infrastructure and connectivity, transforms the 700 MHz spectrum into greater coverage and capacity, providing national coverage, with 64.31% of the population connected through its own 4.5G infrastructure.
Newt will work together with Altan’s project management company Equality, a consulting company that has presence in over 10 countries in Latin America and focuses on promoting financial inclusion with different solutions in Lending and Credit Score improvement. Newt’s main scope of responsibilities will involve the network of companies with points of sale and technology, while Equality will be focusing on commercial promotion in remote areas of the country. The joint goal is to significantly increase the number of users by the end of 2022.
Sergio Maya Aleman, CEO of Newt Latin America, stated: “After months of negotiating with one of the fastest growing companies in Mexico, we succeeded in winning the bid under a Request for Proposal, thanks to our innovative technical solutions. This will position Newt to provide digital products and prepaid services with 62 MVNOs (Mobile Virtual Network Operators) of Altan, allowing consumers access to digital products and services.” He further stated: “This agreement benefits Newt’s network by aligning us with Telecom partners, which is the first step in Newt’s future ecosystem to service the unbanked market. Agreements with companies like Altan get us one step closer to expanding Newt’s consumer base in low income areas, which are unbanked and in remote locations. We see our network and distribution expanding in these markets, to initiate Fintech solutions, offering banking and lending services.”
About Altan Redes
The Shared Network of Altan Redes is servicing 73,142,320 people in 84,217 locations throughout Mexico. Altan has a 20-year concession granted by the Federal Government of Mexico, in addition to operating under a Public Private Partnership contract. “Shared Network” reaches regions that lack connectivity, and offers greater connectivity to schools, hospitals and marginalized areas, new benefits of public security services supported by video, and internet of things. It is the only network in Mexico that uses the latest generation 4.5G technology, and is ready for 5G.
For more information, visit https://www.altanredes.com/
Newt Corporation is a Canadian Company with subsidiaries in USA & Mexico, currently delivering state-of-the-art digital payment services to consumers and service providers where 60% of the adult population does not have a bank account and where 80% of personal payments are made in cash. It currently provides Software & Kiosks solutions, within the Fintech Software Solutions Services, primarily focused on B2B such as Retail, Institutions and SME’s providing services to employees and the unbanked market.
Utilizing its developed SaaS technologies software and integrated partners, Newt can provide institutions and merchants, technology for solving KYC, AML, Mobile wallet, cashless mobile payment, bill payment, digital prepaid products, and other services for transactions on mobile devices, web and at Merchant Point of Sales. Newt is currently launching its own operated network of self service kiosks and applications that are designed to provide more convenient payment alternatives for consumers and more efficient billing for service providers.
Newt’s SaaS solutions, users and businesses can take away complex capabilities of transacting in the digital world, making payments, receiving funds, accepting bill payments at point of sales, thus allowing merchants a quick and seamless one-stop shop, for a more secure and efficient provider. Newt’s current SaaS platform is utilized by clients throughout North America & Latin America. Recently top enterprises and SME’s are choosing Newt as their single service provider for Payment solutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
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.