Surge Holdings Inc (OTCMKTS:SURG) announced that the SurgePays Marketplace network, which provides products to the underbanked through convenience stores, bodegas and community markets, has been integrated with prepaid wireless company ECS.
The Memphis-based company has completed the onboarding of SurgePhone Wireless to ECS’s network and expects to commence rolling out its SIM Starter Kits over the next month.
CEO Brian Cox predicts the integration will be a boon for revenue.
“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,” Cox said in a statement. “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. 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.”
Cox said the integration will be especially useful for customers in rural areas where prepaid options are limited. An option for urban stores is expected to follow, Cox added, which will retail for less than $60.
Additionally, Surge has launched a real-time national transaction tracker for the ECS and SurgePays networks.
“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,” Cox said.
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