May 12, 2020– Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of a BankingService Provider Agreement with PayJet, for settlement banking, management services, and account and card issuances in the United States.
As per the terms of the agreement, Newt shall utilize PayJet services for settlement banking, compliance, and management of US customer accounts. Additionally, Newt shall access PayJet settlement accounts and cards. The collaboration shall provide seamless transactions in the USA for account holders to make purchases online and via mobile app, receive payroll deposits, withdraw cash, and a variety of other banking integrated functions with the Mobile wallet.
PayJet is an emerging provider in Account and Card issuance, management services and payment solutions, for organizations and consumers, based on the PayJet System. PayJet Accounts are online Demand Deposit Accountswith a full set of features designed to provide capabilities for servicing a wide range of clients. The Accounts are available to any US-based adult (subject to KYC and OFAC screening), regardless of whether the person has an account at another financial institution.
PayJet will interface with Newt’s system through an API,via the Internet on a real time basis, to facilitate cash loading and reloading at participating retail locations throughout the US.
Sergio Maya Aleman, CEO of Newt, stated: “We are pleased to announce PayJet as one of our partners for US banking. This relationship will provide our company additional compliance in US tied to our software and SaaS offerings, and it is important for Newt to have appropriate partners in the banking space that understand digital fintech services and the functionality of the current Mobile wallets and E-commerce, and what the future functions will need to provide.¨
About PayJet
PayJet provides convenient, low-cost solutions for distributing payroll or other recurring payments such as commissions or dividends. PayJet also makes it easy to manage purchasing within any group – give cards to employees or members, set daily/weekly spending limits for each, and monitor transactions with real-time alerts & reports. PayJet is a complete online banking experience – open an account, accept Direct Deposits, pay bills, make transfers to other accounts, and make purchases online & in-store with our highly secure debit card.
For more information, visit https://www.payjet.net
About Newt
Newt Corporation is a Canadian Company with subsidiaries in USA, Luxembourg & Mexico, that aims to be a Fintech leader in SaaS Software Solutions Services, focused on B2B such as Institutions and SMEsproviding services to employees and the unbanked market. Utilizing its developed SaaS technologies software and integrated partners, Newt can provide institutions, 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.
By choosing 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.
