Midpoint Extends Partnership with Xero with Release of Pay Now App

Xero users can now invite their customers to pay their foreign invoices using Midpoint

TORONTO, March 3, 2016 /CNW/ - Midpoint Holdings Ltd. (the "Company") (TSXV: MPT) – the world's first authentic peer-to-peer ('P2P') international foreign currency and payments platform, today announces that it has launched an add-on application that enables users of Xero, the leader in online accounting software, the opportunity to not only pay a foreign supplier (creditor), but also send out a sales invoice from Xero to their customers. This provides a "Pay Now" button included in the email request which facilitates the customer using Midpoint to pay a supplier requesting payment.

This is the latest development in the partnership between Midpoint and Xero, which was announced in July 2015. The integration of the Midpoint platform will enable Xero's 600,000+ subscribers to save money on their foreign invoices through buying currency at the midpoint of the buy and sell rate.  

Brad Lemkus, COO of Midpoint, said: "This development paints a picture of the future of e-invoice FX payments. The process is easy and seamless, delivers unbeatable value and simultaneously updates a user's Xero software, whether a vendor or customer. This further re-enforces the partnership between Xero and Midpoint in providing contemporary cost effective solutions to the market by harnessing the power of Cloud-tech, Peer-2-Peer connectivity and user friendly 'software as a service applications (SAAS).'"

Gary Turner, MD of Xero, commented: "A growing number of our small business customers are trading overseas more frequently, so it is therefore very encouraging to see Midpoint extend their Xero integration with the launch of this new app."

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Notes to Editors

About Midpoint

Headquartered in London, Midpoint is an FCA authorised payments institution with the world's first authentic peer-to-peer ('P2P') foreign exchange marketplace. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint's US patent protected platform for transparent, multi-party, multi-currency services.

Midpoint is currently handling transactions in 17 countries with the ability to collect and transfer across 72 countries. This highly secure platform provides customers with the most cost-effective FX at the midpoint of the interbank buy/sell rate therefore removing the spread as well as hidden costs and fees.

Midpoint Holdings Limited is listed on the TSX Venture Exchange (Toronto) and cross-listed on the Frankfurt Stock Exchange.

About Xero

Xero is an easy-to-use online accounting software for small businesses and their advisors. The company has 600,000+ subscribers in more than 180 countries. Xero boasts more than 500 third-party integrations, and was ranked No. 1 by Forbes as the World's Most Innovative Growth Company in 2014 and 2015.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Midpoint Holdings Ltd.

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