Business Wire | Jul 29, 2021 07:42AM EDT

Mogo Subsidiary Carta Powering Public Health Initiatives in the United Kingdom

Jul. 29, 2021

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jul. 29, 2021--Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) ("Mogo" or the "Company"), a digital payments and financial technology company, announces that its wholly owned subsidiary, Carta Worldwide ("Carta"), a modern card issuing platform, is powering key public sector payment initiatives in the United Kingdom ("UK") in partnership with leading payments solutions provider allpay, the UK market leader of payment services within the public and social housing sector.

Among the recent initiatives is a program with the National Health Services through which prepaid cards, powered by technology from allpay and Carta, are being distributed across England to facilitate electronic payments to support health initiatives. The companies are also supporting the UK 'Healthy Start' program, providing new mothers with electronic payment capability to purchase essential food for their young children.

"Throughout Mogo's history, we have been working to democratize and simplify access to financial services through technology, and we're thrilled that our Carta payments platform is helping to power these large-scale and important public heath initiatives in partnership with allpay," said Greg Feller, President of Mogo.

Leveraging its modern open-API issuer platform, Carta enables the issuance of virtual and physical cards to support innovative solutions for businesses and organizations that are looking to deploy payment products and embedded financial services.

Tony Killeen, CEO, allpay Limited said: "The digitization of public health payments is creating an incredible impact in the UK. We are proud to see the successful roll-out of these initiatives. Carta has been a critical partner, allowing us to focus on delivering this best-in-market payment solution."

About Mogo

Mogo is empowering its more than 1.5 million members with simple digital solutions to help them get in control of their financial health. Through the Mogo app, consumers can access a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, easily buy and sell bitcoin, and get free monthly credit score monitoring, ID fraud protection, and personal loans. Mogo's wholly-owned subsidiary, Carta Worldwide, also offers a digital payments platform that powers the next-generation card programs from innovative fintech companies in Europe, North America and APAC. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

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CONTACT: Craig Armitage Investor Relations craiga@mogo.ca (416) 347-8954 US Investor Relations Contact Lytham Partners, LLC Ben Shamsian New York | Phoenix 646-829-9701 shamsian@lythampartners.com