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GRATIFII LIMITED — Capital/Financing Update 2017
Dec 3, 2017
65023_rns_2017-12-03_3ac225ef-08a0-4ceb-bd67-aa83d1ec3212.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
4 December 2017
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Mobecom executes significant Commercial Strategic Partnership with Singapore’s leading payments network
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Strategic partnership with Singapore’s largest payments acceptance network, NETS, significantly advances Mobecom’s progress towards the launch of airBux in Singapore.
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NETS operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 100,000 acceptance points in the country.
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Enables users to earn and spend airBux digital currency at NETS’ QR Code enabled terminals.
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This represents one of a number of strategic partnerships secured to support airBux’s initial launch in Singapore, South Africa and Australia in CY18 as highlighted by the Company in its relisting statement, October 2017.
Mobecom Limited (ASX: MBM) (Mobecom or the Company) is pleased to announce it has signed a technology partnering agreement with Network for Electronic Transfers (Singapore) Pte Ltd (NETS), Singapore’s leading payment services group.
The strategic partnership significantly advances Mobecom’s progress towards the launch of airBux in Singapore and provides a network of over 100,000 acceptance points at which customers can earn and spend airBux.
NETS is one of the most widely used payment schemes in Singapore with some SGD$24 billion in transaction value processed in 2016. The network provides cashless payments with an ATM card or mobile phone at over 100,000 acceptance points, which are available at major retailers, food courts, hawker centres, convenience stores and supermarkets around the country.
The partnership will enable a diverse and significant number of merchants to participate in the airBux customer loyalty scheme. Customers will be able to use the airBux mobile app to earn and pay with airBux rewards currency using the NETS’ terminals.
In addition to earning recurring merchant membership fees, Mobecom will earn revenues on a pertransaction basis as consumers use the airBux platform via the mobile app. They will use the app to earn airBux when they transact in store and to use airBux to pay for goods and services. The app is also used to redeem coupons, earn airBux or switch loyalty points into airBux from other loyalty schemes.
airBux launch on track for CY18
Mobecom continues discussions to secure further strategic partnerships with locally based telco and media companies, merchant networks and existing loyalty program platforms to support the airBux launch in the initial target markets of Singapore, South Africa and Australia.
The strategic partnerships will give Mobecom a large number of participating merchants and airBux accepted payment terminals upon launch. Importantly, strategic partnerships with local media giants will significantly reduce the need for material advertising spend, with partners commercially incentivised to drive user adoption and transactions via the platform.
Mobecom Chief Executive Officer, Neil Joseph, states: “We’re really excited to have partnered with Singapore’s top financial payments company, NETS, as we prepare for the launch of airBux in Singapore. NETS has an extensive network of payment terminals throughout Singapore and a strong merchant network, meaning customers can earn and spend airBux at a wide variety of stores and locations, regardless of which payment card they use.”
NETS Chief Executive Officer, Jeffrey Goh said: “We see airBux as a great value-add for our merchants. They get the opportunity to send targeted location-based offers to a large base of opt-in consumers, plus the ability to process airBux rewards payments simply and easily by leveraging their existing NETS terminals.”
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For further information, contact:
Media Enquiries Harrison Polites Media and Capital Partners M: +61 2 8916 6124 E: [email protected]
Neil Joseph Chief Executive Officer Mobecom Ltd M: +61 2 9922 6988 E: [email protected]
About the NETS Group
The NETS Group is a leading Singapore payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.
The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 100,000 acceptance points in the country as well as online payments. The NETS network also accepts NETSPay, UnionPay and BCA cards, and includes 35,000 Unified POS terminals and 30,000 QR acceptance points. NETS is also the issuer of CashCard and Flashpay cards.
The NETS Group manages and operates the clearing and payment infrastructure for the Singapore Clearing House Association and core electronic transfer services FAST, Inter-bank GIRO and PayNow.
It is the market leader for payment and clearing solutions (Real-Time Gross Settlement system and Cheque Truncation System) in the region with some SGD$1 trillion in transaction value processed through its systems every year.
NETS is a member of the Asian Payment Network and a council member of UnionPay International.
For more information on the NETS Group, please visit www.nets.com.sg
About Mobecom Limited
Mobecom Limited (ASX:MBM) is a full-stack customer engagement technology provider that delivers end-to-end technology solutions for businesses to engage with their customers. Its primary offering, airBux, is a digital currency platform that provides ‘liquidity for loyalty’ and is the Company’s direct to consumer mobile application offering, with a cloud-based currency at its core. With mobile payment, ordering, booking and local offer capability; airBux digital currency will be the gateway to a new digital lifestyle rewards program.
The Company’s existing B2B offering provides its blue-chip customers based in Australia, Singapore, South Africa, the UK and Europe with technology solutions, built on its airBux proprietary technology, to deliver a complete end-to-end set of customer engagement technology requirements, including both back-end (databases) and front-end technology (design, mobile applications and websites). www.mobecom.co
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