Alpha Modus and SurgePays sign 25,000-activation pilot agreement

Alpha Modus Holdings Inc. (NASDAQ: AMOD) and SurgePays Inc. (NASDAQ: SURG) announced a multi-year commercial integration and distribution agreement to deploy the Alpha Cash mobile wallet across SurgePays' prepaid wireless and convenience-store retail channels.

The agreement includes an initial deployment phase with up to 25,000 devices enabled with Alpha Cash access, a defined activation structure tied to funded wallet accounts, and a revenue-sharing model. Alpha Modus will fund consumer activation incentives and compensate SurgePays on a per-activation basis, while providing SurgePays a share of downstream wallet revenue from enrolled users for a defined period.

Under the terms, SurgePays will promote Alpha Cash across ProgramBenefits.com, point-of-sale marketing channels, digital intake and onboarding flows, and wireless activation pathways including Lifeline programs. The integration positions Alpha Cash within platforms that serve millions of underbanked Americans.

"This agreement should move Alpha Cash into live distribution channels that already reach the consumers we are targeting," said William Alessi, CEO of Alpha Modus Holdings. "We will be embedding directly into the onboarding flows and platforms that serve millions of underbanked Americans."

Jeremy Gies, Executive Vice President of SurgePays, stated that "Alpha Cash gives our prepaid wireless subscribers a mobile wallet built for how they already engage with their phones. The Pilot lets us evaluate enrollment economics at scale before we expand beyond the initial phase."

According to the FDIC's 2023 National Survey, approximately 24.6 million U.S. households rely on alternative financial services for everyday transactions. The FinHealth Spend Report indicates that U.S. consumers reliant on alternative financial services spend an estimated $347 billion annually in fees and interest.

The agreement follows a previously announced Letter of Intent between the parties and represents one of the definitive agreements contemplated under that framework.

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