WaveMAX has successfully implemented and demonstrated its WiFi6-5G shared network in Bodegas and small stores in NY, Los Angeles and Puerto Rico
WaveMAX Corporation has successfully implemented its WiFi6-5G shared network in bodegas and small stores across New York, Los Angeles, and Puerto Rico. This initiative is part of CuentasMAX, a joint venture with Cuentas Inc. (NASDAQ: CUEN). WaveMAX's patented technology allows end-users access to a shared WiFi network while advertisers target specific demographics through location-based ads. CuentasMAX will leverage this technology to enhance services for low-income communities, providing substantial data savings and potential revenue for retail partners.
- Successful implementation of WiFi6-5G shared network in multiple cities.
- Joint venture with Cuentas enhances service offerings to low-income communities.
- End-users can access savings on data plans through the SharedFi network.
- Potential revenue generation for small retailers from WiFi and advertising.
- Exclusive rights to patented technologies could strengthen market position.
- Dependence on Cuentas' Board of Directors for final approval of the cash transaction.
- Market uncertainties due to economic factors such as high inflation affecting business sustainability.
AUSTIN, Texas, Dec. 15, 2022 /PRNewswire/ -- WaveMAX Corporation('WaveMAX'), the pioneer of the world's first shared WiFi network, has successfully implemented and demonstrated its WiFi6-5G shared network in Bodegas and small stores in New York, Los Angeles and Puerto Rico as part of CuentasMAX, a joint venture to become majority owned subsidiary of Cuentas Inc. (NASDAQ: CUEN & CUENW)('Cuentas') in exchange for
CuentasMAX LLC was incorporated as a joint venture between WaveMAX, Cuentas Inc. a leading FinTech provider (Top 4 Fintech) of mobile banking, digital wallet and payment solutions focused on Hispanic and Latino communities, and Execon Smart Solutions LLC an innovative WiFi6 as a service provider.
WaveMax's SharedFi® patented technology allows for a shared network of WiFi access points and small cells. The end-user has access to this shared network and, if he has opted in, be impacted with location-based advertising. These ads are configured by advertisers using WaveMAX's dashboards targeting, manually or programmatically, the right audience, at the right time, and the right place. Advertisers may transparently optimize their advertising investment with zero fraud and no user privacy invasion and analyze aggregated data and results. The user may also pay an ad-free subscription service, or have the service be included as part of their data plan with roaming agreements. Access points and small cell owners receive a share of the ad, subscription or roaming revenue.
CuentasMAX has acquired exclusive rights to WaveMAX patented technologies to serve Bodegas and small independent retail shops: Cuentas MVNO prepaid subscribers will automatically be connected to any SharedFi network generating substantial savings to their data plans, Cuentas app users will be able to make money and receive payouts when they share and monetize their WiFi homespot or mobile hotspot on SharedFi, and retailers distributing Cuentas SIMs will be able to provide WiFi6-5G at their stores and advertise offers and deals when users connect to the WiFi6 as well as to attract customers by advertising in the SharedFi Network in their city or neighborhood.
"We are very glad to get into this agreement with Cuentas Inc. consolidating a business model that we are ready to replicate worldwide" said Eduardo Velasco, WaveMAX CEO.
"This is a service to help Bodegas and small businesses, having low-income communities as end beneficiaries, especially during these times of high inflation and instability" – said Francisco Marte, President of the Bodega and Small Business Group.
"CuentasMax acquisition generates new interactions, engagement possibilities, and great synergies with Cuentas mobile app, Cuentas MVNO, and Cuentas POS creating a complete and unique mobile ecosystem with great opportunities to connect customers to savings and value to the aggregated network of 41,000 Cuentas-SDI and Cuentas-OLB stores" said Cuentas CEO, Arik Maimon.
WaveMax is a WiFi-5G sharing company leveraging US patented technology to create an ecosystem monetizing mobile interactions between Telcos, Retailers, Providers, Apps, and Users. WaveMax ecosystem is rapidly growing worldwide, creating new synergies and network effects.
WaveMax :
info@wavemaxcorp.com
512.902.8038
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a FinTech e-banking and e-commerce service provider with proprietary technology aimed at providing solutions for the underbanked and un-banked Hispanic and Latino population.
Cuentas: investor@cuentas.com
Execon is a managed WiFi and infrastructure as a service (IASS) provider serving more than 20,000 locations and convenience stores in the USA and México
Execon:
Pedro Noriega
Email: pedro.noriega@execon.mx
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SOURCE WaveMAX
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