UPAY CEO elected to CASA Board for two-year term — joining the first Board constituted after industry rebrand

Rhea-AI Summary

UPAY (OTCQB: UPYY) announced that its CEO, Jaco Fölscher, was re-elected to the Board of the Credit Association of South Africa (CASA) for a further two-year term following CASA’s AGM on 22 October 2025.

Fölscher will serve on CASA’s first Board after the association rebranded from MicroFinance South Africa, representing UPAY’s loan-management software unit ACPAS. The rebrand signals CASA’s expanded remit across the full credit value chain and emphasizes integrity, accountability, inclusion, and a focus on responsible credit supported by technology, data and service providers.

As a Board member, Fölscher will support advocacy, cross‑sector collaboration, regulatory and compliance guidance, capacity building, and efforts to promote trust in responsible credit provision.

JOHANNESBURG, Oct. 27, 2025 (GLOBE NEWSWIRE) -- UPAY (OTCQB: UPYY) (“UPAY” or the “Company”), today announced that its Chief Executive Officer, Jaco Fölscher, has been re-elected to the Board of the Credit Association of South Africa (CASA) for a further two-year term, following CASA’s AGM on 22 October 2025.

Serving in his capacity as CEO of ACPAS, UPAY’s loan-management software subsidiary, Fölscher joins CASA’s first Board constituted after the association’s name change from MicroFinance South Africa (MFSA). Unveiled at the AGM, this rebrand affirms CASA’s expanded remit across the full credit value chain in South Africa and highlights UPAY’s ongoing commitment to responsible innovation and industry leadership.

CASA’s rebrand signals continuity of purpose — to make credit a force for dignity, inclusion and growth — and elevates values of integrity, accountability, and inclusiveness as guideposts for the industry’s next chapter. The association’s work brings together community lenders and national players, supported by technology, data and leading service providers across the value chain — from loan administration systems and payment platforms to insurance, credit bureau data, document verification, and compliance services.

“I’m honored to continue serving on CASA’s Board at this pivotal moment,” said Jaco Fölscher, CEO of ACPAS. “CASA’s renewed mandate and values align with UPAY’s mission to expand access to safe, responsible credit. We’ll keep championing practical solutions, high standards, and collaboration that help consumers and credit providers thrive.”

As a Board member, Fölscher will support CASA’s priorities to represent members through strong advocacy, foster collaboration across the credit value chain, and provide regulatory and compliance guidance, while helping to build capacity and promote trust in responsible credit provision.

About CASA
CASA is South Africa’s leading association for responsible, professional non-bank credit providers, existing to enable members to thrive and to build a sustainable credit industry that supports economic growth and financial inclusion. It is a member-based, non-profit association governed by an elected Board and specialized Board Committees. For more information, visit www.casa.co.za

About ACPAS:

ACPAS is a leading Loan Management Software provider in South Africa, offering advanced automation solutions that streamline loan origination, management, and compliance processes. With a strong commitment to empowering microfinance and credit institutions, ACPAS delivers technology-driven tools that enhance operational efficiency and regulatory compliance. As a subsidiary of UPAY Inc., ACPAS continues to play a key role in advancing digital transformation within the financial services industry. For more information, visit www.acpas.co.za.

About UPAY

UPAY Inc. is a publicly traded holding company at the forefront of the fintech industry. By investing in innovative technologies, UPAY delivers comprehensive Financial Software Platforms that offer full system automation, intelligent data solutions, and enhanced user experience. The Company bridges the gap between clients and consumers in an evolving financial ecosystem, driving engagement and lasting impact. For more information, visit www.upaytechnology.com

Forward-Looking Statements
This press release contains “forward-looking statements” as defined under applicable securities laws. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update or revise forward-looking statements due to new information, future events, or other circumstances. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

Media Enquiries

Contact Information
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FAQ

Who from UPAY was re-elected to the CASA Board on October 22, 2025?

UPAY CEO Jaco Fölscher was re-elected to the CASA Board for a two-year term following the AGM on 22 October 2025.

What role does Jaco Fölscher hold at UPAY and its subsidiary ACPAS?

Jaco Fölscher is CEO of UPAY and serves in his capacity as CEO of UPAY’s loan-management software subsidiary ACPAS.

What significance does CASA’s rebrand from MFSA have for UPAY (OTCQB: UPYY)?

CASA’s rebrand expands its remit across the full credit value chain and aligns with UPAY’s focus on responsible credit, technology, and industry leadership.

What priorities will Fölscher support on the CASA Board as a UPAY representative?

He will support advocacy, collaboration across the credit value chain, regulatory and compliance guidance, capacity building, and promoting trust in responsible credit provision.

When was UPAY’s announcement about the CASA Board re-election dated?

The announcement was dated October 27, 2025 and reports the CASA AGM held on 22 October 2025.

How does the announcement describe CASA’s industry mission after the rebrand?

The announcement describes CASA’s mission as making credit a force for dignity, inclusion, and growth while elevating integrity, accountability, and inclusiveness.