21 October 2017
visit www.response.ncr.com

Spindle and iPayMobil ink strategic agreement

16 December 2013  |  1543 views  |  0 Source: Spindle

Spindle, (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced that it has entered into a strategic agreement with iPayMobil, Inc., a developer of mobile payment ecommerce solutions.

The agreement enables Spindle and iPayMobil to provide a convenient, efficient and secure way to offer micro-lending services to merchants as part of Spindle's existing payments product suite. Merchants will be able to offer Spindle's free, downloadable mobile wallet app to their customers to facilitate credit approvals for time payments at competitive rates.

In addition, iPayMobil will license seven of its ecommerce patents to Spindle to augment its product and service offering to merchants. These patents include solutions in virtual currency and gaming, the processing of transactions by bridging customers and merchants within a network, micropayments, pre-paid stored value accounts, and cloud services for digital content.

"The addition of the iPayMobil micro-lending service complements our broad mcommerce solution is consistent with Spindle's focus to empower merchants in a comprehensive mobile payments economy," said Bill Clark, Spindle's chief executive officer. "Through this relationship, we can now offer an option for merchants to provide micro-lending services to customers while reducing their transaction and loan costs. We are excited to offer these new products and services that will enable our merchants to grow and retain their customer base."

The iPayMobil micro-lending service deployed through Spindle's commerce platform is targeted for release in the first quarter of 2014, and will be offered to MeNetwork's 400,000 mobile application consumers. This will be followed by the integration with the Yowza!! platform, which Spindle recently announced plans to acquire. This will further extend the micro-loan offer to an additional 1.4 million consumers who have already downloaded the Yowza!! application.

"Our ability to offer an alternative micro-lending service with significantly reduced transaction and loan costs is consistent with Spindle's mission to empower small to medium-size merchants to compete in the fast-growing mobile ecommerce market," explained Andrew Ling, president and chief executive officer of iPayMobil, Inc. "Our patent portfolio augments Spindle's own patents by providing a strong foundation for Spindle and its merchants to offer enhanced products and services at lower transaction costs, and remove the reliance on large service providers that not only charge higher fees, but also look to acquire the customer. We look forward to working with Spindle in developing software solutions that will help its merchants grow and retain the customer base." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.innotribe.comvisit www.vasco.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9139 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8732 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7848 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7339 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6954 views comments | 14 tweets | 23 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job