Fintech is short for Financial Technologies, a term applied to 21st century technology innovations used in the back end of consumer based financial transactions in the Ecommerce and online community. Fintech products and strategies are intended to provide ease of use and enhanced security to consumers of online goods and services.
SocialPlay is incorporating the Spot&Pay mobile payment application software into the backend payment & fulfillment processing of online gifting company Friendship Socks. This highly synergistic move will showcase the technology and Ecommerce abilities of both subsidiary companies which will widen exposure and increase sales for both entities.
According to SocialPlay CEO, Robert Rosner, “Both Spot&Pay and Friendship Socks occupy unique spaces in the online Ecommerce world by virtue of how they utilize social media to drive the success of their individual operations. By combining the two under the SocialPlay umbrella, we expect to see a more rapid and sustained growth pattern over the next twelve months in terms of client acquisition, technology adoption, and increased sales.“
About Social Play USA
SocialPlay is a Business to Business and Business to Consumer solutions provider for Ecommerce and online charitable giving; providing marketing, monetization, and support services for companies in the mobile and social media applications marketplace. Please visit us at http://www.socialplayusa.com for further information.
About Friendship Socks Inc.
Friendship Socks is a company that offers its line of unique designer socks, proudly manufactured in the USA, and markets its products through its quickly expanding online community. The company leverages social media to connect people more substantially through the gifting of a simple pair of socks, something everyone can use and appreciate every day. The process is very easy and involves a customer purchasing a pair of socks for themselves through the website while at the same time also gifting a free pair to a friend of their choosing. This free pair gift purchase is embedded within a message that can be sent through any social media platform the buyer wishes. The friend then clicks on the link provided in the social media message, enters their shipping information, and waits for their socks to arrive in the mail. The recipient is now part of the Friendship Socks community and can then purchase a pair to surprise one of their friends and so on and so on. Friendship Socks refers to this as “Pairing it Forward”, helping connect friends from across the street to around the world. The result is strengthened connections and stronger friendship bonds. The company offers a one-time purchase as well as a subscription service, where every month the customer receives a new pair and would get to choose a new friend to send a surprise pair to. This provides Friendship Socks the unique opportunity to connect with multiple customers through one initial purchase. Those familiar with the success of Dollar Shave Club (sold to Unilever for a reported $1 Billion) will recognize the potential Friendship Socks has in creating a large and dedicated consumer following. This increased social media engagement creates exponentially expanding customer acquisitions while automatically increasing recurring sales revenue. For more information, please visit http://www.friendshipsocks.com.
Spot&Pay is a mobile payment application that is used in connection with third party QR codes that have been generated for specific uses; i.e. individual consumer products, specific services or group of services offered to the general public, B2B product and service offerings, monetary donations to charitable organizations, and quick and easy bill payments on recurring monthly accounts.
QR codes allow consumers a quick, simple, and paperless method of making purchases, donating to their favorite charity, and paying bills. The process relies on setting up a Spot&Pay mobile payment account attached to a credit card or direct debit account and then simply scanning a QR code with a mobile device for a particular product or service the consumer wishes to purchase. The Spot&Pay application will instantly facilitate the order and purchase of the product associated with the QR code and pay for it from the pre-designated method of payment set up by the user. For more information, please visit http://www.spotandpay.com.
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President & CEO
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS,” AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH SOFTWARE DEVELOPMENT, SALES & MARKETING, AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS FILED AND PUBLISHED ON WWW.SEC.GOV, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY”S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY”S SOFTWARE DEVELOPMENT, SALES & MARKETING EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED AND PUBLISHED FROM TIME-TO-TIME ON WWW.OTCMARKETS.COMTHIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SocialPlay USA, Inc. 8275 S. Eastern Avenue, Las Vegas, NV 89123
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SOURCE SocialPlay USA, Inc