Vancouver, British Columbia, Canada, September 21, 2015 - Fundamental Applications Corp. (“Fundamental”) (CSE:FUN, FSE:2FA, OTCQB: FUAPF), a leading developer of innovative, millennial-targeted smartphone applications today announced that Foro Technologies Inc., its wholly owned subsidiary, has begun the process of defining and implementing the monetization strategy for their Foro Student Marketplace app. Credit card based payment will be added as a payment option within the product. 

Foro is a smartphone-based classifieds style marketplace designed exclusively for students with a simple value proposition of making transactions easier and safer for students to complete. In line with the established nature of online classifieds, Foro connects buyers and sellers within the platform who then meet to exchange cash for goods. Large-scale cash transactions are inherent to risk, and to make this transaction method safer and reduce the reliance on cash, Foro Technologies plans to offer credit card payment as an option in Foro. Monetization comes from the company appropriating a very small percentage of every credit card transaction as a fee for brokering the exchange. 

“Keeping Foro free for students is very important to our business,” commented Richard Whitehead, Chief Executive Officer of Fundamental Applications. “Monetization is the next natural step in Foro’s development and offering credit card as an optional payment method adds practical value to our users. The minimal fee structure for its use will be non-consequential for the transactions where using a credit card makes sense. Implementation of this initiative is more than pure software development because it requires both technical and client support to ensure a quality user experience. As such, roll-out will be executed strategically over the coming months.

The credit card processing transactional business model will ultimately represent a very small percentage of the earnings potential of the Foro Student Marketplace. It does however represent an immediate path to monetization in a method that adds value to the user experience. Foro Technologies plans to keep its Student Marketplace free for students to download with a freemium usage option. The bulk of revenue by percentage will be from non-traditional advertising strategies, leveraging big-data, and a new promotional strategy the company has coined “the gamification of product placement”. Timelines for launch of this new feature will be announced once a payment processing gateway supplier has been secured and implementation has been properly scoped.

About Fundamental

Fundamental Applications Corp. (CSE:FUN, FSE:2FA, OTCQB: FUAPF) designs, develops, markets, and acquires innovative mobile applications targeted at the “Millennials” generation; people born in an age of digital technology, internet access, and smartphones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Their three leading mobile platforms are Foro: a peer-to-peer mobile ecommerce marketplace, Truth: a one-to-one anonymous messaging app previously listed in the top 100 social networking apps in the Apple App Store, and Serum™: an app that enables users to post questions to their friends and receive answers anonymously. 

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.  The Company has no intention or obligation to update or revise any forward looking statements due to new information or events.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fundamental. Forward-looking information is based on certain key expectations and assumptions made by the management of Fundamental. Although Fundamental believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fundamental can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fundamental disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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