June 3, 2021 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the Agreement with Chedraui for the extension of the Self-Service Kiosk Program and further deployment of additional kiosks at 20 new locations. This will represent the second stage of deployment, and will bring the pilot project to 40 Newt’s Self-Service Kiosks in Chedraui stores in Mexico City’s Metropolitan area.
The new supermarket locations were selected based on the highest foot traffic from the ideal target customers of Newt’s digital payment services – cash-paying customers and unbanked clients. New kiosks shall be deployed with more digital products and in high visibility traffic locations within the stores, increasing traffic and yielding higher revenue, as stage two of the project unfolds. New kiosks will also feature digital content advertising for an additional revenue stream.
Chedraui is a publicly traded third largest Mexican multi-format retailer, with operations in Mexico and the United States. It operates 330 retail outlets across 20 Mexican states, and over 50 retail stores in Southwestern United States, primarily in California, Nevada and Arizona, under the brand name El Super.
Thanks to Newt, customers of Chedraui are able to use Newt’s state-of-the-art kiosks to benefit from over 1,000 services, including mobile airtime top-ups, gift cards, bill and utility payments, such as electricity, gas, water, road toll prepayment, as well as state and municipal government payments. Most importantly, kiosks will expedite the flow of customers by reducing lines, while at the same time selling additional products and simplifying payments in a contactless environment. In the near future, Newt plans to enable its kiosks with crypto and bitcoin payment capabilities.
Sergio Maya Aleman, CEO of Newt Latin America of Newt, stated: “We are grateful that Chedraui has believed in us since the very beginning. The new stage of deployment is a natural step to take when both customer, final user and supplier all derive substantial benefits from the partnership. We expect this collaboration to develop even further in the next few months.”
Chedraui is a publicly traded Mexican grocery store and department store chain, which also operates stores in California, Arizona, New Mexico, and Nevada under the name El Super. It is traded on the Mexican Stock Exchange under the symbol CHEDRAUI.
Chedraui is Mexico’s third-largest retailer (after Walmart and Soriana). The supermarket giant sells groceries, apparel, and non-perishable items in 330 stores.
The California operations began in 1997, later expanded to Nevada, Arizona, New Mexico and Texas. The stores there are branded El Super, and operated by Grupo Chedraui’s Bodega Latina Corporation, headquartered in Paramount, CA. In 2018, Bodega Latina acquired Fiesta Mart in Texas.
For more information, visit www.chedraui.com.mx
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. Newt envisions providing a next generation of technologies in a complete Services agreement. 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.
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.