POSTD Merchant Banque Acquires Equity Stake in Debit Card Producer
POSTD Merchant Banque (OTC PINK: PMBY) has acquired a 40% equity stake in Sewacard Industrie SA, a Senegalese debit card producer offering GIM and VISA prepaid cards. SEWA is GIM-UEMOA certified, enabling it to produce EMV CPA Bank Cards for WAEMU countries. The acquisition aims to enhance financial inclusion in Africa by providing electronic banking solutions, especially in rural areas. SEWA's Mobile Kit utilizes mobile networks for transactions, making services more accessible. SEWA can produce up to one million bank cards monthly, significantly reducing delivery times.
- Acquisition of a 40% equity stake in Sewacard Industrie SA could enhance growth potential.
- Sewacard's capacity to produce one million cards monthly supports rapid service delivery.
- Increased market access in WAEMU countries enhances financial inclusion initiatives.
- None.
LOS ANGELES, CA / ACCESSWIRE / April 12, 2022 / POSTD Merchant Banque (OTC PINK:PMBY) ("the Company ''), a mandated lead arranger for corporate-to-bank structured and trade financial transactions, announces that it has acquired a forty-percent (
SEWA obtained GIM-UEMOA Certification in August 2020, giving it the authorization for the production and personalization of EMV CPA Bank Cards for members of the West African Economic and Monetary Union (WAEMU) which consists of the Interbank Electronic Network of one hundred twenty (120) banks and financial institutions. Members of the Union (also known by its French acronym, UEMOA) include Benin, Burkina Faso, Côte D'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
SEWA has designed and developed an electronic transaction platform that resolves financial constraints, while offering personalized responses, in terms of inclusive financial services. These actions will accelerate the banking of populations in Africa to financial maturity.
SEWA's technology uses a purpose made "Mobile Kit" that uses the mobile telephony network to provide transactional services to its customers. This solution decreases their client's dependence on the traditional connectivity methods of the Internet and Electricity. This approach allows SEWA an increased reach into remote areas and hard to reach populations.
The SEWA Mobile Kit can be put into interface mode with Banking Information Systems (BIS) and serve as a multi-transaction and multi-financial institution window.
This allows:
(i) Banks and microfinance institutions to dematerialize their presence in rural areas by making their services available on this shared counter; and
(ii) The creation of a fund collection and transfer service in rural areas without access to traditional connectivity solutions.
Clients include but are not limited to the following: Baysim, Fongad, ONCAV, UNACOIS, highway toll card Effiage, and Senelec, a prepaid electricity card.
From its Diamniadio Industrial Platform, SEWA offers a quick turnaround for delivery of bank cards within 72 hours. SEWA can accomplish this because of its high production capability of one million cards per month, thereby putting an end to the long three-to-four-week delivery times. Since its 2018 inception, SEWA's factory has developed technological infrastructures with ultra-modern payment machines and world-class electronic security equipment.
About Sewacard Industrie SA
Sewacard Industrie SA is a GIM-UEMOA Certified company authorized to produce EMV CPA Bank Cards valid for members of the West African Economic and Monetary Union (WAEMU).
The company website can be found at: https://www-sewafs-com.translate.goog/sewacard/?_x_tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
About POSTD Merchant Banque
POSTD Merchant Banque (PM Banque) is a non-depository financial institution that offers clients access to growth capital in the private markets through institutional debt or equity, far beyond what traditional banks can and will provide. Combining global reach with personal, bespoke service, we provide our clients with comprehensive corporate finance advisory services tailored to fit our clients needs.
The company website can be found at: www.postdmerchantbanque.com
For more information please contact:
investor.relations@postdmerchantbanque.com
(213) 947-3006
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Sources:
https://www.imf.org/en/Publications/SPROLLs/WAEMU-362#sort=%40imfdate%20descending
SOURCE: POSTD Merchant Banque
View source version on accesswire.com:
https://www.accesswire.com/697049/POSTD-Merchant-Banque-Acquires-Equity-Stake-in-Debit-Card-Producer
FAQ
What is the significance of POSTD Merchant Banque's acquisition of Sewacard Industrie SA?
How will Sewacard's Mobile Kit impact financial services in rural areas?
What is the expected impact of the acquisition on PMBY's growth?
What certifications does Sewacard Industrie SA hold?
