Berlin, Berlin, Germany, November 11, 2021 (GLOBE NEWSWIRE) – The board of directors of FinTech investor listed on OTC Markets FFPC, majority-owned by a German state-owned company Fast Finance 24 Holding SA (“FF24”), informs the market that its wholly owned subsidiary, ff24 Payments, concluded :
1) a bipartite framework agreement with DECTA which will allow ff24payments to clear Visa and Mastercard c2b transactions for the latter’s growing customer base of b2c users in the 27 countries of the European Union (“EU”). ff24 Payments is a b2b gateway provider for e-merchants who need to collect online payments from consumers and subscribers purchasing products or subscribing to online services, information or entertainment. The agreement with DECTA allow ff24 Payments start to ‘get on board’ online merchants requiring the ability to collect and process card payments from consumers holding prepaid, bank debit and credit cards issued by banks and exchange / transfer bureaus belonging to both payments The world’s most widely used cashless networks, Visa, Inc. and Mastercard, Inc; and
2) a tripartite agreement between ff24 Payments, DECTA and e-commerce Ok. to supply Ok. with the ability to collect consumer payments from Visa and Mastercard holders. Ok.de is a ‘freemium model’ provider of DLS-based secure instant messaging, mobile telephony, free secure messaging and infotainment services. Ok. Also integrates a price comparison site covering utility providers including broadband, travel and car rental across Germany. In his own words, ” Ok. is forward-thinking, modern and secure, and one of Germany’s leading providers of email, news and video. Furthermore, Ok. offers with Ok secure one of the most secure and modern messaging services in the world. ”
Disclosure of related parties
The tripartite agreement described in point 2) immediately above is a transaction between related parties by virtue of the common ownership interests of FF24 in the Company and in Ok..
About the German and European e-commerce markets
The German e-commerce market alone, supported by a population of over 83 million, is estimated by Statista to be equivalent to US $ 111 billion in 2021, making it the fifth largest market in e-commerce to the world. The same source estimates that within a few years the e-commerce market across the EU27, with a global population exceeding 447 million, will exceed the equivalent of half a trillion dollars (500 billions of dollars. .
As a gateway provider, ff24 Payments offers a flexible payment platform to help e-merchants in their online businesses. It allows e-merchants to process all common payment methods with a single partner instead of installing a multitude of “payment plugins”. ff24 Payments = secure processing 24/7. ff24 Payments is a 100% subsidiary of FFPC.
DECTA is a global payment processor and certified third-party technical payment processor in Europe and Asia-Pacific. The company provides technical payment solutions for financial institutions in the UK and is licensed and regulated by the Financial Conduct Authority in the UK as an authorized electronic money institution. It holds the status of principal member of Visa International and Mastercard Worldwide. DECTA has implemented projects in 27 counties for more than 2,000 companies and has over 20 years of experience in the payments industry.
This press release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities and Exchange Act of 1934, as amended. These statements include the intention, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, revenues, future savings, research, development, reformulation, product or service performance or management’s plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Potential investors are cautioned that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in forward-looking statements due to various factors. The implementation of the strategy described here is significantly dependent on many factors, many of which are not under management’s control.
Keith, Bayley, Rogers & Co. Limited *
Graham Atthill Beck
+44 7506 43 41 07 / [email protected]; [email protected] * Keith, Bayley, Rogers & Co. Limited acted as broker for the share swap agreements between Standard Vape Corporation (renamed Fast Finance Pay Corp.) and Fast Finance 24 Holding AG described in previous press releases . Keith, Bayley, Rogers & Co. Limited is a member of the London Stock Exchange and Aquis Exchange. It is authorized and regulated by the Financial Conduct Authority of the United Kingdom of Great Britain and Northern Ireland.
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