Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - Euro Asia Pay Holdings Inc. (CSE: EAP) ("EAP" or the "Company") is pleased to announce the launch of a new and enhanced SideKickTM product powered by Mastercard. The new product includes a variety of card features including an exclusive Budget Tool that allows parents to set spending budgets for their students.
Peter MacKay, EAP's Chief Executive Officer, commented: "The new SideKick Card brings the ability of monitoring and budgeting living expenses to parents of international students who wouldn't normally be able to do so using other alternatives. This provides a substantial benefit to customers who use our product and a unique selling point for agent partners who introduce the financial solution to their clients."
Following the launch of the new product, international students will have access to a physical SideKick Card issued by Mastercard that makes it easy and safe for them and their parents to monitor, budget and spend funds in Canada. Parents can decide how much money to deposit onto the student's SideKick Card and use the Budget Tool to control funds while students can keep track of their spending on the SideKick app.
International students in Canada can use their SideKick Card wherever a prepaid Mastercard is accepted - which is virtually everywhere, in-store and online. The new card also allows students to enjoy other functionalities that were not part of the previous version of SideKick, such as contactless payments (tap), secured payments with chip and pin, and ATM withdrawals.
"The additions of the Budget Tool and other card functionalities to the SideKick product are a game-changer for both existing and new customers," continued Mr. MacKay. "Until now, parents had no ability to monitor how the money was spent when sending their kids to study in Canada and usually had to send more money to cover non-essential expenses. With SideKick, parents have more control over their kids' spending and can have peace of mind that students won't mismanage their funds and spend large sums on unnecessary items."
According to The Globe and Mail, international students contribute an estimated $22 billion a year to the Canadian economy. "SideKick attends the demand for a better solution to help parents and students to manage these funds," declared Mr. MacKay.
About Euro Asia Pay Holdings Inc.
Euro Asia Pay Holdings Inc. is a developer of innovative financial solutions for the next generation of consumers. Its first product, SideKick, enables parents to transfer, control and monitor payments to their children in a simple, intuitive manner. The product includes a student-facing mobile application, a prepaid student payment card and a parent portal, among other features.
To learn more about EAP's products and services, visit www.euroasiapay.com.
On Behalf of the Board of Directors
Peter MacKay
Chief Executive Officer & Director
For further information, please contact:
Peter MacKay
Chief Executive Officer & Director
(800) 508-8813
ir@euroasiapay.com
For all media queries, please contact:
Swati Mehta
PR Associates
(403) 804-0768
smehta@prassociates.com
Forward-Looking Statements
Certain statements in this news release include forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. The Company is providing cautionary statements identifying important factors that could cause its actual results to differ materially from those projected in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "may", "anticipates", "is expected to", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook") are not historical facts and may be forward-looking. The Company has based the forward-looking statements largely on its current estimates, assumptions and projections about future events and trends that it believes may affect its business, financial condition and results of operations.
By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes may not occur or may be delayed. The risks and uncertainties, many of which are beyond the Company's control, include, but are not limited to: the ability of the Company to establish a market for its products; competitive conditions in the mobile payments industry which could prevent the Company from becoming profitable; the effectiveness and efficiency of advertising and promotional expenditures to generate interest in the Company's products; dependency on continued growth in the adoption of mobile payment technology; volatility of the market price of the Company's securities; the inability to secure additional financing; the Company's intention not to pay dividends; claims, lawsuits and other legal proceedings and challenges; conflicts of interest with directors and management; and other relevant factors.
Factors that could cause the Company's actual results to differ from the forward-looking statements include its history of losses from operations; technology risks; its ability to obtain the additional financing required to meet long-term goals; its dependence on key personnel, including its executive officers; and uninsured risks. These factors are not exhaustive.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
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