DALLAS, Aug. 19, 2026 (GLOBE NEWSWIRE) -- UPAY Inc. (“UPAY” or the “Company”) (OTCQB: UPYY), a Nevada holding company whose operating subsidiaries provide loan management software, anti-money laundering compliance software and related digital services, substantially all of which are delivered in South Africa, today announced the appointment of Marina Short as Chief Executive Officer of its majority-owned South African subsidiary, AML GO (Pty) Ltd (“AML GO”), effective August 5, 2026. Ms. Short is not an officer or director of UPAY Inc., and the appointment does not change UPAY’s executive officers. Jacob C. Fölscher continues to serve as UPAY’s Chief Executive Officer and Chief Financial Officer.
Ms. Short has held senior roles in financial management, credit, risk, data and regulatory compliance in South Africa since 1997, including approximately 14 years of service as a chief executive officer. The Company believes her appointment will support AML GO’s next phase of development as it seeks to expand adoption of its anti-money laundering and know-your-customer screening software and related compliance solutions.
From March 2011 to August 2025, Ms. Short served as Chief Executive Officer of Consumer Profile Bureau, with responsibility for strategic direction, operational performance, regulatory compliance, technology, finance, human resources and stakeholder engagement. Her industry and governance experience includes serving as Chairperson of the Credit Bureau Association from November 2023 to November 2025, Director of SUPPPLE group, from January 2024 to date, Chairperson of the SUPPPLE Audit, Risk and Compliance Committee from January 2024 to date, Executive Committee member and Treasurer of the Association of Debt Recovery Agents from October 2017 to November 2025. As of the date of this release, she also serves as Chairperson of the Direct Marketing Association of South Africa. Ms. Short devotes such portion of her time to these outside positions as she determines appropriate, and they are not expected to interfere with her duties to AML GO.
Ms. Short has experience with the South African legislative and regulatory environment, including the National Credit Act, the Protection of Personal Information Act, the Financial Intelligence Centre Act and the Consumer Protection Act. Throughout her career, she has focused on using data and technology to improve risk management, customer assessment, regulatory compliance and business decision-making.
Ms. Short holds a Bachelor of Commerce degree in accounting, awarded cum laude by the University of Pretoria. The Company believes that Ms. Short’s executive leadership, governance experience and knowledge of the South African regulatory environment will benefit AML GO. No assurance can be given that her appointment will result in increased revenue, client adoption, product development or profitability at AML GO or the Company.
Jaco Fölscher, Chief Executive Officer of UPAY Inc., commented:
“Marina brings a combination of executive leadership, regulatory insight, industry relationships and practical experience in technology-enabled risk management. We believe she is well positioned to lead AML GO as we work to broaden the reach of its screening, monitoring and compliance solutions. We believe her appointment strengthens the leadership of AML GO.”
Marina Short, Chief Executive Officer of AML GO, commented:
“Organizations are under increasing pressure to identify and manage financial-crime risk while maintaining clear evidence of compliance. I look forward to working with the AML GO and UPAY teams to develop practical, scalable solutions intended to support clients in addressing their FICA and broader regulatory obligations. My focus will be on responsible growth, strong governance and solutions that address genuine market needs.”
Under Ms. Short’s leadership, AML GO intends to focus on commercial growth, product development and the broader adoption of its compliance technology. The success of these efforts will depend on factors outside the Company’s control, including market demand, regulatory developments, competition, product performance and AML GO’s ability to attract and retain clients and qualified personnel.
For more information about AML GO and its services, visit www.amlgo.co.za.
About UPAY Inc.
UPAY Inc. is a publicly traded company quoted on the OTCQB Venture Market operated by OTC Markets Group Inc. under the ticker symbol UPYY.
About AML GO
AML GO (Pty) Ltd is a South African compliance software company in which UPAY Inc. acquired a controlling interest in June 2024. AML GO has offered its services in South Africa since October 2024. Its web-based platform provides customer due diligence and enhanced due diligence workflows; sanctions, politically exposed person and adverse media screening; configurable reporting and audit-trail functionality; and API integration, in each case designed to support customers in addressing their obligations under the Financial Intelligence Centre Act. AML GO is continuing to develop its transaction monitoring and alerting capabilities. AML GO does not guarantee that any customer will achieve or maintain compliance with any law or regulation. For more information, visit www.amlgo.co.za.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words such as “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “positioned,” “will” and similar expressions. Forward-looking statements in this press release include statements regarding AML GO’s leadership, growth, product development, commercialization, client acquisition, market adoption and the anticipated benefits of Ms. Short’s appointment. These statements are based on current expectations and assumptions, are not statements of historical fact, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others,
The Company is an issuer of penny stock and, accordingly, the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 are not available to the Company. Forward-looking statements are not guarantees of future performance, and readers should not place undue reliance on them. UPAY undertakes no obligation to update or revise any forward-looking statements, except as required by law.
No Offer or Solicitation
This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities of UPAY Inc., nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Media Inquiries
Contact Information
UPAY INC.
Media Relations
info@upaytechnology.com
