First Global receives Mich. money transmitter licence

Alpha Stox June 28, 2017 Comments Off
First Global receives Mich. money transmitter licence

Mr. Andre Itwaru reports


First Global Data Ltd.’s wholly owned U.S. subsidiary, First Global Money Inc., has obtained its money transmitter licence for the state of Michigan.

According to Wikipedia, “Michigan is the tenth most populous of the 50 United States.” With the continuing licence application process, the company is working toward being licensed in all U.S. states by the end of Q3 2017.

The company is also pleased to announce that it has enhanced its mobile payment offering by adding a unified chat interface for transactions. This is a high-level artificial intelligence capability wherein words and abbreviations are interpreted so customers can chat to transact.

Artificial intelligence is part of the new technology wave as exemplified by Google, Amazon and Apple, which have created their own version of a virtual assistant. The company’s chatbot will offer a single chat window interface for ease of use thereby saving time and offering convenience. Chatting will enable the completion of numerous tasks.

Customers in India are now able to perform the following services through this interactive chat response capability:

  • Person-to-person transfer;
  • Mobile recharge;
  • Bill payments;
  • Bus ticketing;
  • Cab booking;
  • Hotel booking;
  • Air ticketing;
  • Offers;
  • Food ordering;
  • Home services such as laundry;
  • Events and activities;
  • Rail ticketing;
  • Rail food ordering;
  • Health care — doctor appointments and medicine delivery;
  • Movie ticketing;
  • Home services — repairs, handyman and beauty services.

First Global will add this artificial intelligence for chat to transact capability to its other international mobile payment deployments.

“The addition of the Michigan licence is an important milestone for the company as it is the first new licence obtained since our decision to refocus on expanding our reach across the U.S. Our compliance team continues to work closely with our U.S. regulators with the objective of achieving full coverage across the U.S. this year. Each new licence provides the opportunity for our company to increase transactional revenues. We are also very pleased with the addition of the interactive chat service to our mobile platform. This service equips us to more aggressively penetrate the huge population of social messaging users which has been a key part of our going forward strategy,” commented Andre Itwaru, chairman and chief executive officer of First Global.

About First Global Data Ltd.

First Global is an international financial services technology company. The company’s two main lines of business are mobile payments and cross-border payments. First Global’s proprietary leading-edge technology enables the convergence of compliant domestic and cross-border payments, shopping, peer-to peer (P2P), business-to-consumer (B2C), and business-to-business (B2B) payments. First Global enables its strategic partners and clients around the world with our leading-edge financial services technology platform.

We seek Safe Harbor.

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