Finger Motion Subsidiary, JiuGe, to Launch SMS Business in April
NEW YORK, April 11, 2019 (GLOBE NEWSWIRE) -- Finger Motion, Inc. (OTC Markets: FNGR), a mobile payment and recharge platform company, is pleased to announce that through its wholly-owned subsidiary, JiuGe Information Technology (“JiuGe”) has acquired Short Message Service (“SMS”) infrastructure that will enable the Company to enter the growing SMS ‘enterprise’ landscape in China. The company has landed recurring monthly contracts to send 10 million SMS messages for groups of enterprise clients, with expected monthly capacities of 600,000 RMB (USD 88,200) for April; 2,000,000 RMB (USD 294,000) for May; and 3,000,000 RMB (USD 441,000) in June. The company intends to develop a diverse customer base which includes premium car manufacturers, large e-commerce platforms, handset manufacturers, insurance companies, and hotel chains.
SMS trends in China are re-emerging - in 2018, SMS transmissions volume grew 14%, with New Year’s greeting messages alone increasing 7.7%, reaching 13.33 billion. With this resurgence, the SMS ecosystem provides a large market opportunity for enterprise businesses, as organizations typically already have SMS imbedded into their architecture. Primary uses of SMS would include login and authentication, public and governmental notices, lifestyle services and marketing. Technology has also seen the emergence of quick apps transmitted on the SMS platform that can perform lightweight mobile tasks without requiring bandwidth.
There is also a segment of the market, primarily elderly and children, that use SMS as their preferred method of communication. These non-internet users represent 16.4% of the telecom market which makes SMS the most reliable tool of communication for 260 million people in China.
Enhancements in SMS technology have also morphed into Messaging as a Platform (MaaP) which is supported with the advanced multimedia functionality of new phones. The current innovation in MaaP apps provide one-stop payment solutions - where the user searches for something to buy, interacts with it, and provides payment via the SMS platform.
“Our entry into the SMS market complements our existing strategy of building and expanding our user base” said Martin Shen, CEO of Finger Motion. “We are expecting significant growth from this business unit, which would provide direct revenues to our P&L, as opposed to Gross Transaction Volume (GTV). There are ongoing discussions with enterprise customers that are looking for that one-stop solution for their SMS needs, and we hope to provide additional details in the future. Our growth over the last quarter was primarily driven by operational efficiencies and the top-tier e-commerce platforms continue to watch our progress as we add value for our current partners. We expect that new capital contributions or debt placements will extend those gains in the coming months.”
About Finger Motion Inc.
Finger Motion is an evolving technology company located in China with a core competency in mobile payment and recharge platform solutions. It is one of five companies in China with access to wholesale rechargeable minutes through top-up credits on the mobile phone. As the primary business continues to grow its user base, the company is developing value added technologies to market to its users. The vision of the company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the company to onboard larger customer bases and eventually drive a consolidation of the top five wholesalers. Finger Motion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
In order for Finger Motion to realize its vision it must continue to aggressively invest in research and development. The primary area of focus is the development of “must have” applications for consumers and businesses. The longer term focus is to develop a marketing platform capable of leveraging all the meta data that is collected by the top telcos into a predictive model that is able to isolate and extract consumer behavior and habits for future monetization.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
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