Category: Baystreet Newswire
Company: Dakshidin Corporation
Date: Friday, July 25, 2014
Las Vegas, NV / ACCESSWIRE / July 24, 2014 / Dakshidin Corporation (Pink Sheets: DKSC) announces the acquisition of a funds transfer platform called "Scoot".
Dakshidin is proud to announce the completion of the second of our planned acquisitions pursuant to the terms and provisions of the agreement dated July 24, 2014 . The transaction involved acquisition of a technology called Scoot Mobile Money ("Scoot"), which will utilize the financial platform recently acquired by DKSC from the Tyburn Group as announced in our P/R of June 17th, 2014. The acquisition of the Scoot is a step towards DKSC creating a financial services division that will issue Prepaid and Debit Cards to unbanked and underbanked customers in an innovative way to support humanitarian projects DKSC intends to spearhead.
Scoot is a mobile application that allows any cell phone to be used for making direct money transfers through SMS text messaging. The phone does not have to be a smart phone. Users will simply purchase a reloadable stored-value debit card which will register them with Scoot and automatically link their cell phone number to that debit card. Scoot users can send money from one stored-value debit card to another using their cell phone numbers as the unique identifier. Those transferred funds can then be immediately used by the recipient in the same way as any other debit card. Stored-value debit cards (MasterCard/Visa) are currently accepted at over 23 million merchants and ATMs in 210 countries.
Though the uses for this technology are extremely broad-based, management believes that one aspect of this arena is particularly exciting. Growing numbers of the global workforce are now temporarily relocating to emerging economies that are demanding low cost labor and the majority leave their families in their home country. In today’s world it is becoming more and more difficult and time consuming to open bank accounts in countries where one is not a citizen. This creates the real and compelling need of a reliable means for those workers to be able to send money home inexpensively and easily. Scoot Mobile Money fulfills that need as the user does not need a bank account to register.
Christopher Haigh, one of the creators of Scoot said "It is, I believe, inevitable that the phone will become the preferred method for doing financial transactions and Scoot is a powerful, simple to use method of financial management that uses the customers phone to complete those transactions".
Mr. Haigh has extensive experience in facilitating remittance relationships between financial institutions/companies both in the US and world-wide that allow the cardholders/customers of each to send and receive remittances easily, inexpensively and in full compliance with the laws of both countries.
Management also further wishes to announce that DKSC will commence its investor relations efforts when its multimedia platform is ready.
Forward-Looking Statements: The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
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SOURCE: Dakshidin Corporation