Miami, Fla., June 22, 2022 (GLOBE NEWSWIRE) — OM Holdings International Inc. (OTCQX: OMHI) today announced a licensing agreement with IYAP, LLC, owner of fintech platform Liquid Cash. This license agreement will leverage LiquidCash’s existing FDIC banking partners to enable mobile banking API integration into the DoGetGo super app. This integration will allow OM Holdings International to offer banking, money transfer and cryptocurrency services through partnerships with approved service providers. OM Holdings International intends to use licensed service providers to launch DoPay in the DoGetGo super app in the coming months.
DoPay will use electronic next-generation Know Your Customer (eKYC) powered by facial verification and artificial intelligence (AI) for identity confirmation and fraud prevention to offer mobile banking services to customers in the Caribbean. Under eKYC, facial verification plays a vital role in detect facial features and match them with data records. Additionally, built-in AI-driven pattern analysis enables banks to detect fake images and provide in-depth insights to prevent fraud.
Mark Vanterpool, Chairman and President of OM Holdings International, Inc., said, “We are excited to provide this unique service to our customers, which makes buying in person or online a seamless and secure process. We believe that DoPay, combined with the awesome DoGetGo app, will be a leading financial processing platform that can be used for various products and services in the Caribbean. »
DoPay will operate on the Liquid Cash platform allowing users to access:
Suppliers that integrate the DoGetGo platform will now have access to US banking and merchant services to accept credit card payments
Users will be able to transfer money between other DoPay users in real time like Cash App® or Zelle®.
DoPay will enable OM Holdings International to benefit from the $2.9 billion remittance market in Jamaica. Remittances contribute over 15% of Jamaica’s GDP.
“Most residents still struggle to send and receive money due to archaic money transfer establishments. Thanks to our new license agreement, users will be able to easily send money. Currently, the Caribbean market does not have access to Cash App or Zelle due to banking and technology limitations. Using next-generation eKYC powered by facial verification and artificial intelligence, OM Holdings International aims to make DoPay the Cash and Zelle app of the Caribbean. We plan to launch DoPay in Jamaica later this year and other Caribbean islands within the next calendar year,” Mr. Vanterpool concluded.
About OM Holdings International, Inc.
OM Holdings International, Inc. operates delivery services and grocery stores in the Caribbean, with a mobile app delivery platform that provides a fast, contactless option for transporting people and essential goods. The company’s storefront, OneMart, is the second largest grocery store in BVI. OHIM’s delivery subsidiary, Rydeum, has partnered with Jamacia’s largest taxi syndicate, JUTA. The company also supplies lumber and other construction materials to contractors throughout the Caribbean.
For more information, please visit https://omholdingsinc.com/.
Liquid Cash, powered by iYap, is a fintech company that offers a variety of services such as digital payments, crypto, mobile banking, transaction promotion, and streaming entertainment within its super app. Liquid Cash offers its customers state-of-the-art features such as contactless payment, currency exchange, debit cards, virtual cards, in-app purchases, concert/sport/theater tickets, bill payment, instant chat and more. iYap is the backend software provider and partners with financial institutions to provide digital payments and FDIC insured banking services.
Except for historical information contained in this press release, matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act. of 1934. , as amended. Statements preceded, followed by or otherwise including the words “believes”, “expects”, “anticipates”, “intends”, “projects”, “estimates”, “plans” and similar expressions or future or conditional verbs such as “will”, “should”, “would”, “might”, and “might” are generally forward-looking in nature and not historical fact, although not all forward-looking statements include the foregoing These statements involve unknown risks and uncertainties that may, individually or materially, affect the matters discussed here for a variety of reasons beyond the company’s control, including, but not limited to, the ability of the company to raise sufficient funding to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and economy generally, and the company’s ability to successfully develop and market its products and exclusive technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available on the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Great DoGetGo app