00:33:01 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Upco International Inc
Symbol UPCO
Shares Issued 46,510,001
Close 2018-04-24 C$ 0.30
Market Cap C$ 13,953,000
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Upco International hires Nexmo for SMS authentication

2018-04-24 10:02 ET - News Release

Mr. Andrea Pagani reports

UPCO INTERNATIONAL INC. (CSE: UPCO) (OTC: UCCPF) (FRANKFURT: U06) SELECTS NEXMO INC. AND ALSO ANNOUNCES FURTHER DEVELOPMENT OF THE UPCO APP. USING BLOCKCHAIN TECHNOLOGY

Upco International Inc. has contracted with Nexmo Inc., a subsidiary of Vonage Holdings Corp., to provide SMS authentication services for its mobile platform. Nexmo is a leading cloud communication-platform-as-a-service (CPaaS) provider, offering APIs for SMS, voice and phone verifications to facilitate communications worldwide, and a range of other solutions to the mobile communications sector.

SMS authentication via Nexmo's Verify API represents a major enhancement to Upco's current mobile phone and payment offerings, and an important foundational step in the staged delivery of a full-featured international invoice/payment/exchange/transfer service (outlined in Upco's Feb. 2 news release). The Nexmo solution will provide two-factor authentication of users who have downloaded Upco's application. The phone number plus a token associating that number to the phone will be retained in Upco's blockchain database. Corollary benefits, additional to authentication, will include spam and hack protection, and improved control over phone number association (ensuring that calls reach the intended recipient).

With this as a foundation, Upco will continue to enhance its control over authentication and identification to benefit users, minimize risk and ensure full regulatory compliance across jurisdictions, as it expands its offerings in the fintech sector. To this end, Upco is actively exploring solutions for user identification and ID validation to complement its expanding e-wallet offerings.

Andrea Pagani, chief executive officer and president, commented, "We are continuing to develop our Upco app and have successfully integrated leading-edge blockchain technologies into its e-wallet payment system as a step towards the development of a full-featured international invoice/payment/exchange/transfer system for hard currencies and invoice/payment/transfer for cryptocurrencies."

About Upco International Inc.

Upco International is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in on-line communications and commerce. Upco is a licensed global telecom carrier within the international VoIP (voice over Internet protocol) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to Skype and WhatsApp.

With the forthcoming addition of the Upco e-wallet using blockchain payment services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments.

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