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."