Spindle, Inc. (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced that it has entered into an agreement with TekTango LLC, a global payment technology provider, to create an affordable bundle of robust payment applications that support a wide-variety of point-of-sale (POS) hardware.
Through this arrangement, merchant acquirers, ISOs and resellers will be able to leverage a sophisticated selection of payment processing services and POS peripherals that accommodate various vertical merchant segments. When combined with Spindle’s payment aggregation platform, the two companies can offer a rich POS solution that addresses multiple market segments.
Included in these new services will be a NFC POS device which supports numerous transaction types, including EMV, ACH, ApplePay®, gift and loyalty card acceptance, as well as an integrated cash drawer option for recording cash sales. The solution can be branded by resellers to support their individual marketing strategy. The Spindle-TekTango bundle will deliver a unified platform for retail and mobile payment acceptance using both iOS and Android devices. This package will be aggressively priced and subsidized, making it an affordable solution that will satisfy merchant demand, as well as serve as a lucrative tool for ISOs and sales agents to market.
“The POS bundle from Spindle and TekTango allows merchants to cost-effectively accept new payment types, such as EMV and ApplePay®, and expand our offering to providers at a competitive cost structure,” said Bill Clark, chief executive officer at Spindle. “This is an exciting development for resellers who want to take advantage of advanced payment technologies while strengthening their own revenues and brand, without having to manage a complicated technology integration. By joining forces with TekTango, we have the opportunity to introduce these compelling services to new customers, and make it easier for them to grow their businesses.”
“There are various POS technologies available that achieve some of these advanced POS functions, however, many of these third-party applications disrupt the sensitive price points required to be cost-competitive, and often result in a fragmented solution,” said Russ Palermo, founder of TekTango. “Leveraging Spindle’s payment processing engine, we can now provide EMV- and ApplePay-ready POS devices that offer an assortment of powerful embedded services, while delivering a gold-standard business solution. Instead of relying on third-party solutions, merchants can now leverage a streamlined and affordable POS ecosystem which levels the playing the field and creates a more lucrative revenue-sharing model for ISOs and resellers.”