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World’s First Financial Transaction Using Nanosatellites Completed Successfully
26th Oct 2017
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Highlights

• Sky and Space Global partners with BeepTool to demonstrate the world’s first financial transaction using nanosatellites

• Tests using the Company’s “Chatellite” app and BeepTool’s software have been successful, creating huge opportunities to improve commerce and financial inclusion in rural areas

• Financial transactions were made from one phone to another using Sky and Space Global’s 3 Diamonds nanosatellites

• The successful integration cements the partnership between Sky and Space Global and BeepTool, who will work together in the future to connect the unconnected

Sky and Space Global Ltd (ASX: SAS, “Sky and Space Global” or the “Company”) is pleased to announce that it has successfully performed the world’s first financial transaction using nanosatellites in conjunction with the mobile payments start-up BeepTool Communications & Integrated Services Ltd (“BeepTool”).

The tests demonstrated that financial transactions could be made from one phone to another using bandwidth from Sky and Space Global’s first three nanosatellites, the 3 Diamonds. This creates huge potential for improving commerce in rural areas by using secure and safe peer-to-peer banking. For testing such as this, the Company has developed a dedicated Android application called ”Chatellite”, which is used to transfer files, perform phone calls, text messages and voice recordings.

Africa-based BeepTool is a mobile payments, messaging and voice app that is used by over 800,000 customers across the African region and globally. BeepTool and Sky and Space Global have entered into an agreement for a portion of the bandwidth from the 3 Diamonds nanosatellites. Under the terms of the agreement, BeepTool and Sky and Space Global will collaborate to integrate the BeepTool app with Sky and Space Global’s communication bandwidth software systems. Following a successful outcome of the pilot, BeepTool has agreed to purchase from SAS all the available communications bandwidth that is required by BeepTool to fill its bandwidth demand.
Sky and Space Global’s CEO, Mr. Meir Moalem said:

“Sky and Space Global has again been part of a world first. Never before has a financial transaction been processed using bandwidth from nanosatellites. By working with partners such as BeepTool, we can really start to make a difference in people’s lives and grant them access to the kind of connected services that they haven’t had access to before. This is just one way that Sky and Space Global’s disruptive technology and business model is helping to connect the unconnected and drive socio-economic development.”

BeepTool CEO, Precious Ada Enoh said:

“It’s exciting to be part of this history-making integration with Sky and Space Global (SAS). At the beginning it sounded incredible but we (BeepTool and SAS) have made considerable progress towards actualizing seamless communication and financial inclusion for all Africa, especially the millions of people without internet and cellular connectivity.

We are proud to be a partner of SAS on this disruptive technology and business model, we are proud of the successful integration of BeepTool financial services to SAS nanosatellite grid and we are looking forward to a successful integration of other key aspects of this solution. Our hope is to connect the unconnected and the unbanked everywhere in Africa.”

–Ends–

For further information, please contact:
PR/International Media Diana Kurteva/Alexandra Grant Ketchum P: +44 20 37556417 E: skyandspace@ketchum.com Australian Media Kelsey Ryan Illuminate Communications P: + 61 2 8583 5786 E: kelsey.ryan@illuminatecomms.com.au Sky and Space Global Ltd Brett Mitchell Executive Director – Australia P: +61 8 9389 2000 E: brett@skyandspace.global
About Sky and Space Global Ltd

Sky and Space Global Ltd is an ASX listed (SAS) satellite company with European and Israeli centres of Aerospace, Satellite and Software Industry Experts.

The Company’s core business is to operate a communications infrastructure based on nanosatellite technology and develop highly sophisticated software systems that will deploy, maintain orbit control and handle the communication network in space to provide a global coverage. The Company successfully launched its first three nanosatellites, the ‘3 Diamonds’, into space in June 2017 and is preparing for the launch of a constellation of 200 more nanosatellites by 2020.

The Company’s vision is to provide affordable communication coverage and services to anyone, anywhere, anytime with relatively low maintenance costs. This will enable Sky and Space Global to deliver cost-effective communications infrastructure and services to those who need it most and to disrupt the telecommunications and international transport industries. Sky and Space Global Ltd owns 100% of Sky and Space Global (UK) Limited. Follow us through our social media channels

About BeepTool

BeepTool is a community of more than half a million users who rely on its ‘talk and text’ app to stay connected with loved ones, share files, send small amounts of money instantly to Nigeria bank accounts and mobile money wallets and pay for goods and services in Nigeria from any country of the world and airtime top-ups around the world in real time and conduct their businesses.

Its fast-growing platform is the lowest-cost service for calls and messaging, offering free communication between Internet users and nearly free connection with mobile and landline phones. Founded in Lagos, Nigeria, in 2014, BeepTool has spread across more than 50 countries. BeepTool apps are easy to use and available for free download for Android, iPhone, Windows and Mac from the Google Play and iTunes app stores or from the BeepTool website.

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