iQSTEL, Inc.’s (OTCQX: IQST) Key Growth Area Is Its Fintech Partnership In ‘Global Money One’ Debit MasterCard In Which It Seeks To Grow Its Mobile Financial Services Business; IQST Strategy Is To Capture Remittance Amounts, Top Up Business And Gain Cardholders
iQSTEL, Inc.’s (OTCQX: IQST) key growth area is its Fintech Partnership in ‘Global Money One’ Debit MasterCard® in which it seeks to grow its Mobile Financial Services Business by capturing remittance amounts, top-up business and gain cardholders. It holds a 75% partnership interest in this venture with 25% owner Payment Virtual Mobile Solutions, LLC, a Delaware Corporation. An iQSTEL key growth area is its Fintech partnership In ‘Global Money One’ debit MasterCard®. The ‘Global Money One’ financial platform offers users the convenience on their mobile phones of managing their banking, utilizing a prepaid MasterCard® debit card, make purchases, cash withdrawals at ATMs plus send money from the US to greater than 80 countries worldwide (family remittances). IQST reports a 25% jump in Telecom Division’s $16.4 million (unaudited) revenue YTD through February 28, compared to $13.1 million for the comparable period in 2022. Leandro Iglesias, CEO of IQSTEL, says the Company is already realizing 25% growth YTD through February 28 and its 2023 financial objectives of $105 million 2023 annual forecast organically and meeting its goal of positive consolidated operating income for the entire PubCo are ‘within sight’.
Stock Market Press is reporting on the fast growing 5G telecommunications market by keeping readers up-to-date on such company stocks as iQSTEL Inc. (OTC: IQST),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S), Ericsson (NASDAQ: ERIC) in 5G networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
iQSTEL, Inc. (OTCQX: IQST) is targeting with its existing Fintech product people living in the US who require a banking tool for their monetary operations. Through prepaid mobile phones, they can also send money from the US to greater than 80 countries worldwide. The company sends a customer a personalized MasterCard® Debit Card synchronized with the Money One Mobile App, available on Android and iOS. The customer can then also use the card to make purchases, debit card withdrawals from ATMs and use international mobile phones. Perhaps most important, the customer can also send money from the US on the Money One Moble App to family and friends in the country of origin. Deposits can also be made at main banking entities in Latin America, IQST says.
IQST adds that a new Fintech product is being tested targeting commercially large cooperatives and associations in Latin America in which IQST, through partnerships, will seek to gain additional MasterCard® debit cardholders plus their remittance and top-up business through these Cardholders.
Leandro Iglesias, CEO of IQST, says, “IQSTEL continues into 2023 to realize steady and exceptional growth. After reaching $93 million in revenue in FY 2022, we are already realizing 25% growth YTD through February 28 this year compared to the same period in 2022.”
Management of the Company is also confident that IQSTEL is on track to report Positive Consolidated Operating Income in 2023 for the entire PubCo. Operational streamlining and the anticipated benefit from IQSTEL’s newer lines of business will benefit the Company from its Electric Vehicles, Fintech and Internet of Things (IoT) Divisions.
He adds that IQST’s performance is ‘on track’ to meet its IQST says that considering the Company’s revenue stream is historically higher in the second half of the year. Management is confident the YTD performance is on track to reach the company’s $105 million annual revenue forecast organically. This is before the benefit of sales from any new lines of business and before the benefit of any anticipated contribution from acquisitions.
iQSTEL, Inc. (OTCQX: IQST) has been aggressive in expanding its Telecom, IoT and Fintech Divisions as it acquires new subsidiaries and consolidates businesses and grows its international exposure and share in the international marketplace.
It has acquired companies, consolidated businesses into its own infrastructure and debuted new technology platforms such as IoTSmartGas and IoTSmartTank. It has integrated www.iotlabs.mx IoT into its own business and acquired two new telecom subsidiaries, Whisl and Smartbiz. They complete a comprehensive platform for the US, Latin America and Transatlantic markets, the Company said.
Source: Stock Market Press
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