Sharing Services Global Corporation Plans to Drive New Revenue Stream with Launch of SigmaPay, Its New Payment Processing Company
PLANO, Texas, May 31, 2023 (GLOBE NEWSWIRE) -- via IBN -- Sharing Services Global Corporation (OTCQB: SHRG) (“Sharing Services” or the "Company") today announces the launch of SigmaPay, a full-service payment processing company that is an integral part of the Company’s new Shared Services Platform.
SigmaPay is set up to deliver a comprehensive enterprise payment processing solution to companies in the direct-selling industry. Leveraging streamlined technology, SigmaPay offers cost-effective, integrated payment processing services ranging from point-of-sale, virtual and mobile transactions to 3D secure fraud protection – all with competitive transactional rates.
"At Sharing Services, our goal is to provide premier enterprise-level solutions for every aspect of our customers’ needs," said Sharing Services CEO John "JT" Thatch. "SigmaPay is one of the key components of our Shared Services Platform, which also includes consulting and financial services for insurance, logistics and even mobile apps. Our Shared Services Platform incorporates the absolute highest-caliber solutions for the companies we partner with."
"The launch of SigmaPay is a significant part of the Company’s business reorganization plan that will not only reduce our dependency on the sale of health and wellness products but will also generate a sustainable revenue stream that is critical to our ability to improve our overall operating margin," said Anthony S. Chan, Sharing Services CFO. "Companies in the direct sales business need a dependable and cost-effective payment processing system. Our SigmaPay system is robust and flexible, and we believe it will be a real game changer for our target customers that include early-stage companies in direct sales."
Sharing Services' primary growth strategy is built on focused innovation and creativity, and the Company is positioned to capture a profitable market share via diverse business models. The full range of solutions offered by Sharing Services Global Corporation can be found on the Company’s website, https://www.shrginc.com/. For more information on SigmaPay, please visit: www.sigmapay.com
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG) is a publicly traded, diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer.
Additional information is contained in the Company’s 10-Q and 10-K filings with the Securities and Exchange Commission.
Forward-Looking Statements
The statements contained in this press release, those which are not purely historical or which depend upon future events, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements regarding the Company's expectations, hopes, beliefs, intentions or strategies regarding the future, including the Company's operating margin and rolling average annual growth in tangible book value per share, constitute forward-looking statements. Prospective investors are cautioned that any such 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 the forward-looking statements because of various factors. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. Prospective investors should also consult the risks factors described from time to time in the Company's Reports on Forms 10-K, 10-Q and 8-K and Annual Reports to Shareholders.
Company Contact:
Sharing Services Global Corporation
Investor Relations
(469) 304-9400 Ext. 201
Info@SHRGinc.com
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
