Pareteum Empowers its Global Cloud Customer to Launch Gaming with Mobile In-App Billing Services
NEW YORK, Jan. 12, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company") the rapidly growing Cloud Communications Platform company, announced today that it has completed deployment of its Global Cloud Services for mobile management and settlement services to its UK-based customer, announced on August 3, 2017. This Communication Platform as a Service (CPaaS) provider delivers global payment solutions to over 500 service operators globally. Applications, including online gaming and social media, are now easily monetized using Pareteum's services.
Enabled by Pareteum's Global Cloud solution, (which provides the platform) in connection to the TEAX developer exchange (which connects them to the global community), this UK company is now able to allow any smartphone across the globe to direct bill for application purchases through a simple text. This opens the entire globe to application store purchases with direct billing to mobile service plans.
Vic Bozzo, CEO of Pareteum commented, "App Store owners and App developers need a way to direct bill for their services and this solution is particularly applicable for Mobile Virtual Network Operators who want their customer purchases to be direct billed to their phone and allow the Operators to share in some of the 'Over The Top' Revenue. By choosing our platform they are able to bring that capability to the market and expand their reach around the globe dramatically. We receive revenue when these customers create those transactions."
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, "This service activation from our 36-Month Contractual Revenue Backlog demonstrates our leadership in the burgeoning global digital online economy. Our well-developed partnerships with carriers throughout the world enable us to leverage the power of the developers' community worldwide to bring a revenue share model that well benefits the developers, the mobile carriers, and Pareteum. This is how we return proportionl value to the telecommunications market with our software services. Our UK customer is expanding the reach of its APP's, and, their associated developers' community, through Pareteum's global connectivity. For Pareteum this means capturing new business in exciting new geographic areas, as well as providing our ever-expanding network services for global connectivity. Even more exciting is that In-App purchases are starting to be settled using Blockchain, AI for credit scoring, and ultimately the ability to be agnostic to the network, currency or geo-location."
About Pareteum Corporation
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect "every person and everything". Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain and the Netherlands. For more information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
Contractual Revenue Backlog Definition:
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company's Managed Services, Global Mobility Cloud, and Application Exchange & Developer's Platform customers. The Pareteum multi-year Software-as-a-Service agreements include service establishment and implementation fees, guaranteed minimum monthly recurring fees, as well as contractually scheduled subscribers, in some cases including subscriber usage, during the term of the agreement, and, their resulting monthly recurring revenue.
Pareteum Investor Relations Contacts:
Chief Financial Officer
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SOURCE Pareteum Corporation
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