Spindle, Inc., (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced it has signed a strategic agreement with RisePay, a developer of payment gateway systems for small businesses, service providers and mobile vendors.
Through this arrangement, RisePay will integrate Spindle's payment aggregation technology into its proprietary gateway platform, which will help differentiate its gateway services, and allow the company to quickly underwrite merchant applications and expand its penetration in the SMB market.
"We believe that RisePay's merchant approval rate will significantly increase through use of Spindle's technology, allowing RisePay to grow its base of small business customers by a substantial quotient," said Bill Clark, Spindle's chief executive officer. "Spindle will gain a sales channel that is focused on delivering a bundled payment processing offering to SMBs, which will also include mobile payments acceptance and mobile marketing."
Headquartered in Irvine, CA, RisePay offers a reliable, scalable payment gateway service that processes card payments for "micro" businesses. Its platform enables merchants to utilize smartphones as portable card-readers, giving them additional leverage to compete with larger retailers.
"Our merchants are searching for simple, easy-to-implement solutions that let them accept card-based payments from anywhere—while focusing on their businesses instead of payment processing issues," said Anthony Ribas, managing director at RisePay. "Many of these merchants are on-the-move or work in different spaces from week-to-week. Spindle's technology will help us enroll more of these vendors onto our platform, empowering them to accept card payments as efficiently as larger companies. We look forward to collaborating with Spindle to grow this base together, and serve the multitude of small merchants that are looking for these solutions."