Las Vegas, Sept. 12, 2018 (GLOBE NEWSWIRE) — Surge Holdings, Inc. inks deal with Global Financial Processing Systems (GFPS) for money order backroom processing and compliance.
Surge Holdings CEO, Brian Cox, said, “The launch of the Surge Money Order product moves us closer to our goal of monopolizing the Fintech market at the convenience store level. We determined that the experience and nationwide reach of GFPS will enable Surge to be compliant, more profitable, and increase our brand awareness while not adding any additional personnel.”
Surge Money Orders will provide the underbanked customers with a convenient method of providing a guaranteed form of payment to another party quickly. The Federal Reserve reported over $20 billion in money order transactions in 2017.
Kevin Wayne, President of GFPS, stated, “We are excited to use our experience to expedite the growth of the Money Order business for Surge.”
The license application process at the state level will commence immediately in an effort to turn states up as fast as possible.
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ABOUT SURGE HOLDINGS, INC.
Surge Holdings a publicly traded company that wholly owns subsidiaries that utilize emerging technology to improve the quality of life for the unbanked, under-banked, and the overlooked. Current holdings include Telecommunications, Blockchain, Fintech Software as a Service (SaaS), Cryptocurrency Asset Mining and Social Media Digital Marketing.
ABOUT GLOBAL FINANCIAL PROCESSING SYSTEMS
GFPS is a financial data processing company that focuses on money order processing which allows clients to take control of financial service revenue. Using GFPS for backroom processing will make our clients more profitable and increase brand awareness while not adding any additional personnel. We are active in all 50 states and offer custom printing and issuing platforms and specialize in AML transaction monitoring.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
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