With a Canada-wide launch set for Fall 2021, Euro Asia Pay expects to increase its total addressable market to over 6 million people.
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2021) - Euro Asia Pay Holdings Inc. (CSE: EAP) ("EAP" or the "Company"), a leading fintech solutions provider in the North American education industry, announces that the Company is expanding the market reach of its flagship product, SideKickTM, to also support Canadian parents and their children, thereby increasing the addressable consumer base from approximately 700,000 people to more than 6 million.
With SideKick's introduction to the Canadian market, EAP will provide access to a highly convenient and intuitive tool facilitating financial literacy among children and teenagers, with direct control and involvement from their parents. SideKickTM aims to create opportunities for Canadian youth to further exercise financial responsibility while providing parents the ability to monitor and track their child's finances.
"We are excited to extend the SideKickTM international product in Canada, our home market," said Peter MacKay, CEO of EAP. "Canadians place great value on tech and financial literacy, economic independence and saving for their future, and we are here to fully support these core values through our feature-rich technology. Backing this is our commitment to financial education and empowering Canadian youth to learn critical fundamentals to ensure their financial future is promising."
EAP has recently forged strategic partnerships with an insurance company as well as private schools and is focused on growing the Company's partnership model to encompass financial literacy specialists and other supporting services for students. To further enhance the technology, EAP recently launched an updated SideKickTM Mastercard with added features such as contactless payments (tap) and ATM withdrawals.
EAP has become an important player in specialized fintech for the next generation of consumers and its international division currently supports students coming to Canada from 241 countries. To date, the Company's flagship product, SideKickTM, has been well received among international students, parents, and global education platforms for a variety of financial requirements. The feature-rich platform, based on robust proprietary technology, is recognized by educational agents for its convenience, transparency, and added security.
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.
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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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