As Pareteum continues to expand into the global and emerging markets, the companies previously partnered to provide subscriber connection subsidies, for Pareteum's MVNO customers, and their retail customers, via paid advertising by Google and other advertising management platforms.
The addition of AirFox's microloan application, backed by its AirToken (AIR), provides MVNOs (Mobile Virtual Network Enablers), as well as Smart City companies their own peer to peer direct non-cash settlement services. It is these Blockchain secured and crypto paid services that will serve the needs of local citizens, many of whom are underbanked, with a micro lending opportunity that is expected to have demonstrable ecosystem impact, and facilitate seamless, non-cash payments, all through their mobile services.
Vic Bozzo, CEO of Pareteum commented, "As we forge further into underserved markets, the advantage of the new Internet paradigm shift in mobile allows investors to crowdsource regional opportunities that were previously reserved for local services only."
Hal Turner, Executive Chairman and Principal Executive Officer at Pareteum stated, "Pareteum and AirFox form a highly complementary technology partnership. These new converged services, centered on the security offered via Blockchain and Pareteum's open source developed award winning software services for communication service providers, extend our abilities for person to person mobile payments, that are trusted. We see new markets, faster services adoption and deeper market penetration occurring, as well as our inevitable march toward cloud based self-services, utilizing our insights gleaned from data analytics, for everything. This bodes well for our partners AirFox and for Pareteum, in fundamental revenue growth and profitability."