Launches Realtime Network Transaction Tracker
Memphis, TN , Jan. 30, 2020 (GLOBE NEWSWIRE) — Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked, today provided an update on the integration of the SurgePays™ Marketplace Network with ECS’s 9,800 locations. Surge has completed the onboarding of SurgePhone Wireless to ECS’s network and expects to commence rolling out its SIM Starter Kits in the next 30 days. The Company also announced that it has launched a real time national transaction tracker for the ECS and SurgePays™ networks, which is available to view at https://surgepays.com/live/.
Brian Cox, Chairman and CEO of Surge Holdings, commented, “We are pleased with how the integration of ECS is progressing, which we expect to add nearly $50 million of additional revenue on an annualized basis. ECS’s prepaid wireless business and software platform already process over 18,000 transactions per day and add about 9,800 retail locations to the SurgePays™ Network. The wholesale products portion of the SurgePays™ Marketplace should be fully integrated shortly and we are actively working on syncing up new product launches to coincide with the completion of merging the two platforms. We have successfully onboarded SurgePhone Wireless to the ECS platform and will be rolling out the SIM kits to strategic locations in the coming weeks. This offering is particularly well suited for those in rural areas where there aren’t many prepaid options. We are building another branded wireless product suited for the urban stores that comes packaged with a phone that will retail for under $60. By interconnecting the Surge Marketplace Network with the ECS platform, we are also able to leverage the combined buying power of the two platforms, including our wireless products.”
Mr. Cox added, “Finally, I am excited to report the launch of a real-time national transaction tracker, where shareholders can see in real time the millions of dollars in transactions that are taking place on our platform and will be able to observe firsthand as our network grows with more stores being added nationwide on a daily basis.”
SurgePhone Wireless’ $10 and $30 service plans can also be purchased online at www.surgephone.com.
About Surge Holdings, Inc:
Surge Holdings, Inc. operates the SurgePays™ Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing independent and local retailers direct access to regional manufacturers from around the country. Surge leverages its wholly owned subsidiaries (value driven prepaid wireless and fintech products) to build relationships with convenience stores, bodegas, tiendas and community markets that serve the underbanked and unbanked – approximately 35% of the US population. Once a store is onboarded to the SurgePays™ Marketplace, and the trusted profit partnership is established, Surge upsells other consumable goods by connecting manufacturers directly to these retail stores. The SurgePays™ Marketplace provides manufacturers measurable cost savings by cutting out distributors and offers an efficient platform to access independent retailers to sell products nationwide with improved payment terms. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
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