SCOTTSDALE, AZ -- (Marketwired) -- 10/23/13 --
Spindle, Inc., (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced that it has signed a deal with Multi-max®, a manufacturer of vending machines designed specifically for mid-size and small offices and locations throughout North America, Europe and Asia. As part of the agreement, Spindle will integrate its MeNetwork™ mobile commerce technology into Multi-max's line of K-Cup vending machines. The MeNetwork solution will incorporate all card-based payment acceptance services, as well as mobile marketing services.
Spindle's partner Cardis USA, a division of Cardis International, will also participate in the deal by providing low value payment processing services. In addition, Spindle will leverage ValidSoft's advanced In-band Voice Biometrics authentication technology custom built for the mobile platform. ValidSoft, a wholly owned subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK) recently announced the integration of its advanced technology with Spindle's new "MeNetwork360(SM)" mobile commerce ecosystem. Through this arrangement, Spindle plans to distribute the K-Cup systems to businesses and coffee service suppliers throughout the United States.
"We are very excited with the potential that the partnership with Multi-max represents," said Bill Clark, chief executive officer at Spindle. "We'll now have the opportunity to offer a full end-to-end mobile commerce solution to a wide range of vending operators and coffee service suppliers that are looking to quickly enter the mobile commerce space. By working with leading providers like Cardis International and ValidSoft, we can offer a seamless, secure, and affordable solution that will serve the needs of operators and vendors well into the future."
Serving as the foundation of the combined solution is Spindle's MeNetwork360 platform, which allows merchants to facilitate payment processing and manage customized marketing campaigns in a single interface. The platform enables a number of features, including loyalty programs, electronic coupons, rebates and instant offers. The app also allows consumers to locate merchants, discover offers, accrue loyalty points and make purchases on their mobile devices.
Spindle is also leveraging its relationship with Cardis USA in this agreement. Cardis provides a technology that enables several consumer transactions made at different retailers to be handled with only one transaction processed through the payment network, thereby significantly lowering the overall transaction costs. Notes Aaron Fischman, CEO of Cardis USA, "As low value payments migrate from coin and note to electronic form factors, it is essential to deploy a solution that brings down the overall costs of transactions, so that retailer margin is protected. This solution provides that essential capability, previously missing from the mobile wallet. Consequently, the widespread deployment of these machines is likely to make mobile as habit-forming as cash once was."