Sep 29, 2020 (Stock Market Press via COMTEX) -- With an initial target market of end-users including the immigrant end-user population globally, a sector the Company knows well, iQSTEL Inc. (OTC: IQST) today (September 29, 2020) announces it has launched a new Fintech Division. The Division adds new revenue stream options for iQSTEL Inc. (OTC: IQST) via a global business-to-consumer model (B2C) serving end-users worldwide. The Fintech Division will be synergistic with the Company's existing Telco Division. It will offer services such as sending money with low fees, sending money using the Company's customized SMS service and payment of utility fees with minimal payment fees, it said.
Media companies such as Stock Market Press are reporting on the fast growing telecommunications market . It keeps readers up to date on company stocks such as iQSTEL Inc. (OTC: IQST), amazon.com (NAS:AMZN) , Alphabet Inc. (NAS:GOOGL) , Apple Inc. (NAS:AAPL) , Telefonica SA (NYS:TEF) , Samsung Electronics Co. Ltd. (OTC:SSNLF) , Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS),Ericsson (NASDAQ: ERIC), DISH Network Corporation (NAS:DISH) , Nokia Corporation (NYS:NOK) , Liberty Global (NAS:LBTYA) and Vodafone Group PLC (NAS:VOD) .
iQSTEL Inc. (OTC: IQST) Launches Fintech Division, Expanding Digital Financial Services, Adding New Revenue Stream Options Via A Global Business-To-Consumer Model; It Will Be Synergistic With The Company's Existing Telco Division
Digital financial transactions are becoming more frequent globally due to their low costs and blockchain-driven transparency, offering accountability to all involved. Mr. Iglesias, CEO of iQSTEL Inc. (OTC: IQST), said, "The knowledge gathered over the years through our Telco Division, along with strong customer relations with the large mobile operators around the world, has positioned iQSTEL to be the 'point man' between the immigrant end-user population and global telecommunications systems, a perfect setup for us to offer global Fin Tech products and services." iQSTEL Inc. (OTC: IQST) Launches Fintech Division, Expanding Digital Financial Services, Adding New Revenue Stream Options Via A Global Business-To-Consumer Model; It Will Be Synergistic With The Company's Existing Telco Division.
Mr. Iglesias added, "Our current Telco Division's revenue stream is primarily generated from international SMS (65%) and VoIP international long distance (30%) The development of our Fintech Division tied in to our intricate immigrant population consumers and knowledge was a given. Helping this sector transact digitally with near instant delivery, as compared to high risk cash transactions and travel requirements, is expected to be a huge benefit to the immigrant consumer. We continue to execute on our existing Telco Division business plans and acquisition strategies with major updates coming soon." iQSTEL Inc. (OTC: IQST) Launches Fintech Division, Expanding Digital Financial Services, Adding New Revenue Stream Options Via A Global Business-To-Consumer Model; It Will Be Synergistic With The Company's Existing Telco Division.
iQSTEL Inc. (OTC: IQST) Plans To Provide Its Complete Business Plan And Acquisition Strategy That Is Independent From Its Telco Division
iQSTEL Inc. (OTC: IQST) announced that in the future it would be providing additional information including its complete business plan and acquisition strategy independent from its Telco Division. Some of the products and services it plans to offer in its new Fintech Division include:
Send money domestically and internationally with low fees;
Send money using iQSTEL's customized SMS service (No SmartPhone is required);
Pay utility bills with minimal payment fees (mobile, electricity, gas services);
VISA debt card solution for easy access to funds, could be sent to their native countries.
The Finch industry is growing at an almost exponential rate with greater than $500B in annual remittances and over $1.5 T in annual mobile payments, according to Global X and Mauro F. Romaldini (TopTal). iQSTEL Inc. (OTC: IQST) Launches Fintech Division, Expanding Digital Financial Services, Adding New Revenue Stream Options Via A Global Business-To-Consumer Model; It Will Be Synergistic With The Company's Existing Telco Division.
iQSTEL, Inc. (OTC: IQST) Expands List Of Subsidiaries
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the "IoT Smart Gas" platform and application.
Source: Stock Market Press
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