UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
month of July
2021
Commission
File Number: 000-52145
DIGATRADE FINANCIAL CORP
(Translation
of registrant's name into English)
1500 West Georgia Street, Suite 1300
Vancouver, BC V6G-2Z6
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
[
X ] Form
20-F [ ] Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate
by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
[ ]
No [ x ]
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
000-52145
SUBMITTED HEREWITH
___________________________________________________________________________
DIGATRADE ACQUIRES EXCLUSIVE 5 YEAR TECHNOLOGY LICENCING AGREEMENT
FOR THE UNITED KINGDOM FROM SECURTER SYSTEMS INC.
“Shareholder & Future Plans Update”
___________________________________________________________________________
Vancouver, British Columbia / ACCESSWIRE / July 12, 2021 -
DIGATRADE FINANCIAL
CORP (OTCPK: DIGAF),
www.DigatradeFinancial.com,
a financial technology services company, today announced that it
has executed a 5-year exclusive territory sales and marketing
agreement with Securter Systems Inc. (“SSI”) for the
United Kingdom.
Digatrade is a major equity shareholder in SSI and now has acquired
an exclusive five-year Licensing Agreement (“License”)
whereby Digatrade has acquired the sales and marketing rights to
the United Kingdom (“Territory”). Terms of the
agreement include: SSI has the option to Buy-Out
(“Buy-Out”) the License by paying Digatrade
(“License Holder”) three (3) times the Regions Net
Profit in accordance with IFRS accounting standards. Should the
License Holder expend a minimum of CDN$500,000.00 for sales &
marketing activities in the region, then the Buy-Out shall be
determined by the “Fair Market Value” as independently
determined.
United
Kingdom “UK” Payments Market Expecting Major Growth;
all figures based in GBP:
●
Contactless debit and credit card payment volumes totalled $8.6
billion
●
Cash payments decreased by 15% to $9.3b
●
Faster Payments and other remote banking totalled just under $2.5
billion in 2020
●
Cheque volumes continued falling in 2020, accounting for less than
1% of payments made in the UK
●
72% of UK adults used online banking and 50% used mobile
banking
●
Banks Direct Credit volumes fell by 3% to $2b
●
Direct Debit volumes rose 3% to $4.5b
●
The value of Clearing House
Automated Payment System “CHAPS”
decreased slightly to $83.4 trillion
$8,743
billion total value of payments in 2020
50% of
adults now use mobile banking
40.0
billion total payments in 2020
Digatrade’s access to this exciting technology for online
payment processing presents numerous and vast opportunities,
especially in the UK. As CNP (“Card Not Present”)
transactions explode, driven in part by the pandemic and adoption
of global online commerce, so does the risk of fraud. This unique
technology will improve the financial security and privacy of all
CNP transactions processed by participating financial institutions
and payment processors. The technology has the ability to reduce
billions of dollars of losses annually that arise from fraudulent
online transactions. The licensed technology has multiple elements
by which to tackle mounting online losses in the online payment
processing sector. Digatrade’s acquisition of the sales &
marketing license in the United Kingdom is anticipated to increase
Digatrade’s profile in the fintech sector due to the immense
benefit that the SSI technology brings to major financial
institutions and credit card users alike.
Under the existing SSI revenue share model with its payment
processing partners, Digatrade will benefit from a proportion of
this revenue as it builds its sales and marketing efforts in the
UK. The revenue sharing model has produced the fintech giants that
operate in today’s global payments system. Digatrade will
thereby benefit financially from the existing payments
infrastructure, and the relationships developed by SSI improving
reliability, profitability, convenience, and security.
Corporate Update
Digatrade is also preparing a suite of new investor relations
resources for shareholders that will inform them in greater detail
of our goals in fintech as well as the company’s progress in
meeting these goals. Digatrade’s information-portal will help
DIGAF shareholders understand the business significance to them
(and to the fintech industry).
Digatrade holds three guiding principles for the company, for the
benefit of its cryptocurrency interested shareholders. The first is
to implement a business model that makes the company immune to
downward fluctuations in Bitcoin, Ethereum and other altcoin
valuations. The second is to solve actual problems and increase
functionality of cryptocurrency transactions, not merely replicate
payment methods and payment corridors that already exist. The third
is to follow a multi-stakeholder model that goes beyond only
addressing consumer experiences to include the perspective of
vendors for two-sided transactional ease, non-commercial
institutions whose interests may not be as remote as they imagine
and governments who are not yet clear in their policies but may in
fact become enormous beneficiaries across their vast
operations.
At the heart of Digatrade’s innovation program is a focus on
the huge untapped development and commercialization opportunities
in the underlying blockchain technology ecosystem. Digatrade CEO,
Brad Moynes, explains: “It’s easy to get lost in the
theory of what’s possible. We are collaborating with industry
leaders in this sector to mine the technology itself and deliver
useful applications that are not already overdone in this space. An
example is something as basic as being able to trade cryptocurrency
easily, securely and in small quantities by credit card and to
spend it just as easily and securely, by multiple methods. Proof of
stake and Ethereum could boost growth in the PoS business to over
$40b by 2025.
Digatrade shareholder value is projected to grow due to aggregate
transaction fee-sharing with SSI and their PSP partners. These fees
accumulate from massive aggregate transaction value that is
channeled through the international credit card processing system.
Small individual transaction fees paid by cardholders and merchants
become enormous in total because of the billions of transactions
occurring annually around the world. Online purchases by consumers
and businesses are growing faster than any other credit card
transaction categories because of the unmatched convenience that
the online experience provides to purchasers. This is an area of
competitive advantage for Digatrade where its licensed patent
pending transaction security technology originated.
Digatrade’s growing expertise in fintech innovations will
also be applied where new cryptocurrency and credit card systems
overlap. This is an area of fast-growing interest in the
world’s payments system because millions of credit card
holders who also hold cryptocurrency want to choose the payment
method that suits them best at the moment, varying from transaction
to transaction. Credit cards remain a popular core payment
modality, but safe and affordable multiplex systems are
needed.
To help Digatrade shareholders understand the direction of our
strategy in coming months, management has now outlined further
developments that Digatrade is targeting for the benefit of future
DIGAF shareholder value. Each of the key areas of operation listed
below will generate a related flow of events as DIGAF moves
steadily toward the launch of its fintech. A supplementary
PowerPoint has been added to the Digatrade Investor website under
SEC Fair Disclosure Guidelines:
Targeted Digatrade Developments in Q3 2021 and beyond in key
licensed markets including South America and the United
Kingdom.
●
More
key management/sales advisor appointments to provide Digatrade with
world-class perspective, experience and expectations for successful
partnership operations within the industry;
●
Implementation
of new in-store and online shopping incentive system(s) that will
allow the start its commercial marketing and sales activities with
consumers in mind. The purpose will be to engage with merchants and
online shoppers for awareness-building and revenue with the
licensed territory;
●
Progress
toward the development of policies for the engagement of
governments (as users, funders and regulators);
●
Presentation
of an operational pilot program to significant additional PSP
partner candidates who are senior in stature within the
world’s payments systems;
●
Approval
of/by international consulting organization(s) for service bridges
between international groups and applied initiatives;
●
Revealing
collaboration-platform allies who will stimulate tech
integrations;
●
Identification and disclosure of the most suitable
3rd
party cryptocurrency exchange
platforms for integration into Digatrade merchant services
infrastructure.
In addition, Digatrade is pleased to report that the Securter
Crowdfunding campaign is progressing well and can be viewed
here: https://vested.ca/projects/view/119/
One of the goals of the Securter
crowdfunding is to obtain a minimum of 150 investors to meet the
minimum distribution requirements for going public on a nationally
recognized Canadian Stock Exchange.
More information will be made available when it
materializes.
ABOUT DIGATRADE
DIGATRADE is a Financial Technology “fintech” services
company. Digatrade is developing various payment industry process
improvements that are proprietary. They represent a next generation
platform for security and convenience in a variety of modalities,
including online credit card payment system in South America.
Digatrade is targeting numerous fintech service licensing vehicles,
also including blockchain derived applications. Digatrade Financial
Corp. is located in Vancouver, British Columbia, and publicly
listed on the OTC.PK under the trading symbol DIGAF. DIGAF is
a reporting issuer in the Province of British Columbia, Canada with
the British Columbia Securities Commission "BCSC" and in the United
States with the Securities Exchange Commission "SEC".
ABOUT SECURTER
Securter
Systems Inc. (https://securter.com) is a Canadian-based fintech
company that is developing a ground-breaking payment processing
technology that dramatically reduces the security risks associated
with online purchases. The Securter™ Payment App allows
consumers to use their credit or debit card directly without having
to manually input their confidential card information.
Securter’s patent-pending process turns a consumer’s
mobile phone into their own payment terminal (personal card
reader/POS), allowing them to tap or scan their credit/debt card on
their own phone. Cards are now deemed present (CP) for the online
transaction the same way they are when tapped or scanned in-person
(in-store), allowing merchants to capture electronic data stored on
the card and verify the transaction.
CORPORATE CONTACT INFORMATION:
Digatrade
Financial Corp
1500
West Georgia Street, 1300
Vancouver,
BC V6G 2Z6 Canada
Tel:
+1(604) 200-0071
Fax:
+1(604) 200-0072
www.DigatradeFinancial.com
Investors@Digatrade.com
Forward-Looking Information
This press release contains certain “forward-looking
information”. All statements, other than statements of
historical fact, that address activities, events or development
that the Company believes, expects or anticipates will or may occur
in the future constitute forward-looking information. This
forward-looking information reflects the current expectations or
beliefs of the company based on information currently available to
the Company. Forward-looking information is subject to a number of
significant risks and uncertainties and other factors that may
cause the actual results of the Company to differ materially from
those discussed in the forward-looking information, and even if
such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences
to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations
include, but are not limited to, the possibility of unanticipated
costs and expenses. Technology development may be delayed
indefinitely until the Company is able to raise the necessary
capital. Any forward-looking information speaks only as of the date
on which it is made and, except as may be required by applicable
securities laws, the company disclaims any intent or obligation to
update any forward-looking information whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
|
Digatrade
Financial Corp
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
Date: July 12,
2021
|
By:
|
/s/ Brad J.
Moynes
|
|
|
|
|
Brad J.
Moynes
|
|
|
|
|
CEO
|
|
Digatrade Financial (CE) (USOTC:DIGAF)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Digatrade Financial (CE) (USOTC:DIGAF)
Historical Stock Chart
Von Dez 2023 bis Dez 2024
