|By PR Newswire||
|March 13, 2014 09:02 AM EDT||
Launch of simple, secure mobile payment solution a game-changer for payments industry
VANCOUVER, March 13, 2014 /PRNewswire/ - A new method of mobile payment has arrived that will change how merchants and shoppers interact. PayWith Inc., a Vancouver-based company, has launched an innovative new smartphone app that simply and securely enables in-store transactions with mobile devices.
PayWith has signed a North American licence agreement with a leading global payment network that allows PayWith to provide merchants and consumers with a highly secure and convenient smartphone-based payment, loyalty rewards, and commission sales solution.
Over the last two years, PayWith created a new technology platform and developed the revolutionary mCard. Led by CEO David Strebinger and a consortium of leading businessmen and entrepreneurs, PayWith has invested over $10-million dollars to bring this mobile payments solution to market.
"The mCard is a really simple way for shoppers to securely purchase goods and services using nothing more than their phone. Merchants who sign up to use this PayWith technology will be able to offer a convenient and secure mobile payment platform and open a new door to marketing directly to their customers - with no new hardware or software required," says Strebinger.
With this license agreement, millions of merchants in North America who are able to process credit cards can choose to accept mCards and engage with their customers on a whole new level using the PayWith platform.
PayWith's suite of services includes mobile payment, loyalty rewards programs, customer acquisition campaigns, mobile gift cards, a range of social media marketing, fund-raising for non-profits and associations, as well as customer tracking and analytics for merchants. PayWith does not share data relating to the consumer's purchase of a mCard with any third party.
"PayWith is out to solve the problem of mass merchant adoption of mobile payments. The largest barrier to entry PayWith sees with other mobile-based payment and loyalty rewards solutions on the market revolves around the merchant needing new hardware and software and the added fees, expenses and training required by merchants to participate. Using PayWith, merchants do not have any technical, financial or security related barriers to overcome," says Strebinger.
The easy-to-use, secure mCard combined with the PayWith platform opens the door for merchants to connect with current and future customers in ways never before possible. This gives shoppers a real incentive and a compelling alternative to cash and plastic cards.
As mobile technology continues to shape the shopping experience, the value of the payments industry is set to increase dramatically. In North America, the mobile payments industry is projected by Forrester to be a multi-trillion dollar industry in less than three years. Canada is primed for payment transformation like no other country in the world with the highest existing per capita use of mobile payment technology. With 80 per cent of Canadians now owning smartphones, PayWith estimates 90 per cent will be able to engage in mobile payments by 2016.
"PayWith has successfully developed the first-ever platform for secure mobile payments combined with mobile marketing," adds Strebinger. "With a North American licencing agreement in place, PayWith is uniquely positioned to take advantage of the transformation in payments and marketing which is well underway. The introduction of the mCard will help transform how merchants and shoppers interact by making the "mobile wallet" a reality, available to anyone with a smartphone."
About PayWith Worldwide
PayWith Worldwide (www.PayWith.com) provides merchants an ultra simple solution for transacting mobile payments, running rewards and loyalty campaigns and selling branded gift cards without any new hardware or software. PayWith is focused on merchant profitability and quantifiable exposure. At the core of the PayWith platform for merchants is a "Pay Per Result" marketing system that tracks the ROI of every marketing campaign. Consumers "Pay With" branded mCards using their mobile phones and merchants receive relevant customer data and analytics that helps drive more customers spending more money more often.
SOURCE PayWith Worldwide Inc.