First Global Data has partnered with The Money Cloud (TMC) to add global foreign exchange (FX) comparison and purchasing services to its offering.
TMC considers itself the "Trivago of FX", currently providing FX comparisons between companies. TMC will integrate to First Global's mobile wallet to provide foreign exchange services to 140 countries.
TMC will also promote First Global's mobile wallet and payment services to TMC clients across Europe.
Foreign exchange is by volume the largest market in the world. According to the Bank for International Settlements, deliverable foreign exchange is in the region of USD177 trillion per annum (2015).
"We are delighted to announce this partnership with First Global Data, one of the most respected and innovative mobile and cross border payments company's out there. Using our extensive network, we are extremely confident we can help First Global Data to establish a significant footprint across Europe, and are equally pleased that FGD will be using our comparison engine, to help cement their status as a best-in-class provider of international payments services,” says Emmanuel Addy, Money Cloud CEO.
Andre Itwaru (pictured), chairman and CEO of First Global, says: "Global FX capabilities is a key enabler to achieving our vision of becoming one of the world's first portable, interoperable mobile wallets. FX is an integral part of cross border remittances and payments. By integrating The Money Cloud services into our mobile wallet, consumers will have the ability to source and purchase FX at the best rates available."
First Global has retained the services of Renmark Financial Communications to handle its investor relations activities. In consideration of the services to be provided, the monthly fees incurred by First Global Data will be a cash consideration of up to CAD8,000, starting 1 May 2017 for a period of six months ending on 30 October 2017 and monthly thereafter.
Itwaru adds: "Renmark will assist the company to interact more effectively with our investor and shareholder base. Renmark will also reinforce First Global's profile in the financial community and enhance the visibility of our company and the significant progress that we are making globally. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public."
