First Global Launches iPhone Vpayqwik App and Approves New Stock Option Plan
First Global Data ("First Global" or the "Company") is pleased to announce that it has launched the iPhone version of its Vpayqwik mobile payment app in India.
According to a CNBC report on October 26, 2016, Tim Cook, CEO of Apple advised that iPhone sales in India grew by more than 50 percent in the company's fiscal year and that they are just scratching the surface of the Indian market. The report noted that half of Indians are under age 25, and iPhones are generally more appealing to the younger demographic.
"This is an important and very timely milestone for the Company. On February 21, we announced that Vpayqwik is able to process payments at all merchants across India as part of the Bharat QR payment initiative. Now Vpayqwik is also available to all iPhone users. Having both IOS and Android enables and ensures full smartphone access to the Vpayqwik app. We are enjoying significant traction with Android and expect the same with IOS" said Andre Itwaru, First Global's Chairman and CEO.
The Company is also pleased to announce that its board of directors (the "Board") has approved and adopted a new "fixed" stock option plan (the "Plan"), for the benefit of directors, officers, employees and service providers. The purpose of the Plan is to advance the interests of the Corporation by providing optionees with an additional performance incentive, and to allow the Company to attract and retain competent personnel. The number of reserved shares for issuance under the Plan is 17,813,143. The Plan has also been approved by the TSX Venture Exchange.