COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

15 COMMITMENTS AND CONTINGENCIES

The Company operates from an office facility in Mexico. The office is leased under a three (3) year non-cancellable operating lease, which ends on December 16, 2019. The lease calls for monthly rental payment, including maintenance, of $3,262, as adjusted for exchange rate changes. The Company also leases space on a month-to-month basis for its data servers at a monthly rate of $1,926. In addition, Qpagos leases warehouse space on a month-to-month basis for $1,239 per month.

The future minimum lease installments under the office facility lease agreement as of June 30, 2017 are $19,573 for the remainder of 2017 and $39,146 for each year 2018 and 2019, subject to exchange rate fluctuations.