MEXICO CITY, June 18, 2018 (GLOBE NEWSWIRE) — QPAGOS (QPAG: OTCQB), a leader in self-service electronic payment solutions, today announces that it has selected Crane Payment Innovations (CPI), the world-wide leader in providing cash payment solutions and a Crane Co. company, to integrate CPI’s cash management technology into QPAGOS kiosks to be deployed in its recently announced joint venture Innovative e-Payment Solutions, LLC.
Through this partnership, CPI becomes the technology of choice for QPAGOS’ initial 1,000 kiosks planned to be installed in California. CPI’s CashCode one™ is a universal banknote validator offered in a singular universal design regardless of the country, currency, mounting or protocol helping reduce logistic and inventory costs. This unit includes value-added product configurations and extensions such as sleep mode, a bulk note loader option and a 3,000-note cashbox, which is optimum for bill breaking machines.
“We have been working with Crane in Mexico for the last 4 years and selecting Crane for this critical component of our solution as we plan to expand our footprint into the United States should assure the highest level of reliability in our kiosks,” said Gaston Pereira, President and CEO of QPAGOS. “Our experience with Crane’s excellent customer acceptance rate, security against counterfeits, field-proven reliability, and built-in unique service support features give us great confidence in this selection.”
“We are very excited in partnering with QPAGOS in this important milestone as they seek to expand into the U.S.,” added Boris Guitline, CPI Director of Financial Services Americas. “We have been very impressed at QPAGOS’ evolution in the Mexican market, for which we have been their exclusive supplier of similar solutions and look forward to being the vendor of choice for their US expansion.”
ABOUT CRANE PAYMENT INNOVATIONS:
CPI provides a full range of unattended payment solutions for Gaming, Retail, Transportation, Vending, and Financial Services applications. CPI is built upon the technological heritage and market expertise of the NRI, CashCode, Telequip, Money Controls and, most recently, MEI and Conlux brands. CPI works in partnership with valued customers to enhance its portfolio of high-quality payment solutions – from coin and bill processing to cashless systems and asset management software. CPI is headquartered in Malvern, PA with additional offices, manufacturing facilities, distribution and service centers worldwide.
The company holds one of the world’s largest installed bases of unattended payment systems. For more information, visit www.CranePI.com.
United States based QPAGOS offers cutting edge digital payment services for consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where 95% of consumer purchase are made in cash. It operates a network of self-service kiosks and applications offering alternative payment more convenient for consumers and a more efficient billing platform for service providers. (www.qpagos.com )
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate, “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” or “will” or the or the negative of these terms or other comparable terminology and include statements regarding our plans to install an initial 1,000 kiosks in California and our expectation that selecting CRANE should assure the highest level of reliability in our kiosks. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to close our recently announced joint venture with DPW Holdings, Inc. and expand our footprint into the United States, our ability to assure the highest level of reliability in our kiosks and the other risks outlined under “Risk Factors” in QPAGOS’ Current Report on Form 8-K dated May 13, 2016 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q, 10-K and 8-K. The information in this release is provided only as of the date of this release, and QPAGOs does not undertake any obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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