Spindle, a provider of mobile commerce solutions, reports that it has entered into a strategic agreement with Cardis USA, a division of Cardis International, developer of low-value payment processing solutions. The partnership positions SPDL as the nation’s first mobile commerce solution to include Cardis’ platform to process low-value electronic transactions.
Per the agreement, the new Cardis USA platform will be integrated with Spindle’s overall PSP (payment service provider) processing solution, creating a comprehensive payments solution for everyday small purchases. This means merchants can conduct low-value transactions for significantly less cost than that of existing payment networks.
The companies expect the integration to be completed later this year, and will be included in the MeNetwork360 Mobile wallet being offered to Spindle’s 350,000 consumer mobile app users and 6,000 marketing merchants.
“The introduction of the Cardis solution in the United States is a breakthrough development for merchants that rely on low value payments,” Spindel CEO Bill Clark said via news release. “Our ability to offer an attractive pricing structure combined with our aggregation model can be considered a disruptive force in the payments industry by offering substantial cost efficiencies that legacy providers simply cannot match. We are delighted to bring this service to the North American market, and look forward to aggressively marketing this service to customers.”
Spindle’s initial plans call for the deployment of the new platform in the untapped vending, cafeteria, and quick service restaurant (QSR) markets. The company anticipates that merchants utilizing the new network may save up to 50 percent compared with debit and credit card transaction fees.
Cardis USA’s technology enables multiple consumer transactions made at different retailers to be processed through the payment network and handled with only one transaction, which lowers the overall transaction costs.
“One of the main barriers to mobile commerce adoption has been that for many merchants, the costs of those transactions are out of line with the size of the purchase,” explained Aaron Fischman, CEO of Cardis USA. “Our combined platform brings the ability to right the economics of low-value transactions for everyday consumer purchases, and enable millions of merchants to participate in this burgeoning economy.”
For more information, visit www.cardis-international.com or www.spindlehq.com
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