The Board of Directors of OTC Markets-quoted FinTech investor FFPC, majority-held by German public company Fast Finance 24 Holding AG ("FF24"), advises the market that its wholly-owned subsidiary, ff24 Payments, has entered into:
1) a bipartite framework agreement with DECTA that will allow ff24payments to clear Visa and Mastercard c2b transactions for the latter's growing customer base of b2c users in all 27 European Union ("EU") countries. ff24 Payments is a b2b gateway provider for e-merchants needing to collect on-line payments from consumers and subscribers purchasing products or subscribing for services, information or entertainment on-line. The agreement with DECTA allows ff24 Payments to start to "on-board" e-merchants requiring the ability to collect and process card payments from consumers holding pre-paid, bank debit and credit cards issued through banks and exchange/remittance bureaux belonging to the two globally most widely used cashless payment networks, Visa, Inc. and Mastercard, Inc; and
2) a tripartite agreement between ff24 Payments, DECTA and e-merchant Ok.de to provide Ok.de with the ability to collect consumers' payments from Visa and Mastercard holders. Ok.de is a "freemium-model" provider of secure, DLS-based instant messaging services, mobile telephony, free-to-use secure email, and infotainment. Ok.de also incorporates a price comparison site covering utility providers, including high-speed broadband, travel and automobile rental throughout Germany. In its own words, "Ok.de is trend-setting, modern and secure, and one of Germany's leading providers for E-mails, News & Videos. Furthermore, Ok.de offers with Ok.secure one of the world's safest and most modern messenger services."
Related Party Disclosure
The tripartite agreement described in 2) immediately above is a related party transaction by virtue of FF24's common ownership interests in the Company and in Ok.de.
About the German and European E-commerce Markets
The German e-commerce market alone, supported by a population of over 83 million, is estimated by Statista to reach the equivalent of US$111 billion during 2021, making it the fifth-largest single e-commerce market in the world. The same source estimates that within a few years the e-commerce market in the 27-member EU as a whole, with an aggregate population in exceeding 447 million, will top the equivalent of the US$ half-trillion (500 bn.) level.
About ff24 Payments
As a gateway provider, ff24 Payments offers a flexible payment platform to assist e-merchants with their online ventures. It allows e-merchants to process all popular payment methods with just one partner instead of installing a multitude of "payment plugins". ff24 Payments = secure processing 24/7. ff24 Payments is a 100% subsidiary of FFPC.
DECTA is a global payment processing company and certified, third-party technical payment processor in Europe and Asia Pacific. The company provides technical payment solutions for financial institutions in the United Kingdom and is licensed and regulated by the Financial Conduct Authority in the UK as an Authorised Electronic Money Institution. It holds the Principal Member status of both Visa International and Mastercard Worldwide. DECTA has implemented projects in 27 counties for in excess of 2,000 businesses and has over 20 years' experience in the payments' sector.
This news release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product or service performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. 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 as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.
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