CALGARY, ALBERTA & PALO ALTO, CALIFORNIA – OCTOBER **, 2014 – Vogogo Inc.
(“Vogogo”) (TSX VENTURE:VGO) a payment processor that services the cryptocurrency
industry, today announced that they have finalized an agreement for a strategic partnership
with US payment processor Knox Payments Inc. (“Knox”) The agreement provides Vogogo
exclusive access to the Knox payment methods and Knox’s US banking, enabling regional US
fiat payments in support of the US crypto industry.
The agreement further bolsters Vogogo’s US offering and allows Vogogo to expedite and
enhance their upcoming entry into the US market. Vogogo can now offer their US-based
Merchants multiple real time fiat payment options. Existing Vogogo merchants will now be
able to use a single technical integration to accept fiat payments from both Canada and the
The agreement allows Knox to leverage Vogogo’s merchant relationships, risk management
technology and corporate resources, to effectively secure commercial level payment
processing capabilities with their US banking relationships. Together with Vogogo this
agreement enables Knox to participate in the US crypto currency industry, a target market
Knox has been working towards entering.
Vogogo will now fully extend its compliance and risk management platform to the US
market, fully leveraging their existing payments platform and processing capability to
provide seamless and secure processing to what is over 10 times the addressable Canadian
market they currently service.
Vogogo CEO Geoff Gordon said of the announcement, “This agreement represents a
significant milestone in that Vogogo is now fully positioned to address the substantial US
market. We will continue to execute the US expansion strategy as planned and maximize all
business development opportunities in the coming months.”
Knox Payments President Tommy Nicholas said of the announcement, “We are very excited
to be working with Vogogo and together look forward to aggressively entering a market that
is already substantial yet still in its infancy.”
The technical integration between Knox and Vogogo is already well advanced and Vogogo
expects to launch beta US processing in November 2014.