MONTREAL and MANILA, Philippines, Dec. 21, 2012 /PRNewswire/ - Freeport Capital (CNSX: FAS), - a leader on Mobile Credit and PIN Debit payment solutions, announces that it subsidiary HybridPaytech Asia Inc.(HYBRID) and BANK OUTSOURCING COMPANY LTD (BOS) a division of The Gemini Group of Companies(GGC) http://www.ggc.ph announced today that they have signed a Letter of Intent to enter into a partnership and a license agreement. The Letter of Intent describes BOS's intent to license HYBRID's extensive Mobile Payment Ecosystem, which contains access to all HYBRID's Mobile payment systems, development and hardware.
Becoming a HYBRID licensee provides access to additional products and services to deliver secure, safe and easy mobile payment globally. As HYBRID partner, BOS will have access to HybridPaytech Asia's extensive banking and switching relationships to enable BOS to effectively market HYBRID's full suite of services throughout the Philippine's and Asia and in addition Hybrid and BOS will be jointly developing new payment options and platforms to support BOS's clientele.
"HYBRID's Mobile Payment Ecosystem and client portfolio is a strong and critical element to our business strategy," said Mr Alfredo Aquino, President of BOS. "Our alliance with HYBRID gives us access to wireless payment technology and allows us the freedom to focus on delivering Payment and Remittance solutions to our existing clientele, Philippine/Asian banks, their merchant portfolios, other Financial Instutitions and select Governmental Agencies." In addition BOS and HybridPaytech Asia are also working together with partner banks to test the Hybrid Mobile technology to support the payroll-driven Overseas Filipino Workers sector.
Hybridpaytech Asia Inc, President Gary Repchuk indicates "HYBRID combines scale and expertise to structure sophisticated partnerships with global clients that require a global payment solution. We will enable companies to strengthen their market position by providing access to Hybrids mobile payment platform. Setting up a partnership with BOS and collaborating with their banking relationships provides HYBRID with a strong and established partnership that has proven itself as the preeminent Bank Outsourcing Company in the Philippines.About Philippine Remittances North Americas is host to roughly 5 million Overseas Filipinos and is the biggest contributor (almost 50%) to the more USD20.0 billion inward remittances into the Philippines (coursed thru formal channels). Next is the Middle East where there are over 2.5 million "remitting" OFWs who generate a little less than 30% of the volume. The remainder of volumes are generated by OFW's working within Asia About the PHILIPPINES: Population (2011): 101,833,936 with 92,227,000 Mobile Cellular Users (2010): - Increasing amount of smart phone (I-Phone, Androids, Blackberry) that are becoming more main stream and cheaper in cost. About Gemini Group of Companies In 1996 the original corporation that is now the Gemini Group of Companies started providing very affordable and efficient door -to - door remittance service for Filipinos in Canada. Since that time the company has transitioned to providing delivery and fulfillment services for the entire banking, non-banking and specifically the large international remittance companies which are now part of of GGC's valued clients. The Gemini Group of Companies has several subsidiaries and until recently was better known in the banking industry as: http://www.ggc.ph
- Gemini Exchange International, Inc.;
- Signed and Delivered, Inc.;
- St. Clair Security, Inc.;
- BOS-Banks Outsourcing Services,;
- Gemini Express;
- Gemini Forex. Inc.;
- BOS Security Solutions & Services
- Door to Door Cash Delivery or Home Cash Delivery
- Direct credit (IBFT) or over the counter deposit to all major banks
- Cash Pick Up services at our own front stores and partnered with few chain of stores with thousands of payout outlets.
- Issuance of their own co-branded Cash Cards with Banco De Oro and Visa Cards with Chinatrust Bank