Payments

Pay by VOICE at select vending machines via Spindle, Validsoft & Cardis

U.S. BankDigital Product Leader

It is interesting how this new partnership is going to revolutionize paying at vending machines. Apart from Online shopping payments, P2P transfers and retail payments, vending machines is the another station for payment technologists.

Spindle Mobile wallet & Cardis, a low value payments processor, announced their agreement to put their mobile wallet into Multi-max K-cup vending machines. Cardis’s processing technology, removes the since-1970’s legacy costs of electronic payments, changes the economics of low value payments for the merchant. The strategic partnership between Spindle & Cardis shows promising future potential growth of mobile payments by adding another unattended touch point where consumers do smaller value of transactions, but when aggregated in larger chunks disrupts payments at vending machine. Add to that the ease of Pay by voice.

Please find the complete press release as under:

Spindle Signs Agreement with Multi-max To Provide Comprehensive Mobile Marketing and Payment Acceptance Solution for K-Cup Vending Machines

Partnership Includes Cardis USA’s Low Value Payment Processing Services and ValidSoft Authentication Technology; Agreement Expands Spindle’s Reach into Unattended Merchant Space

Scottsdale, AZ  October 23, 2013 — 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 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 voice recognition authentication technology. 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 MeNetwork 360 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.”

In addition, Spindle’s security partner, ValidSoft, will provide voice-based authentication technologies to the solution.

Based in San Diego, Multi-max offers a wide range of vending solutions for small- and medium-sized businesses. The company provides a number of food and beverage products, as well as advanced telemetry and back office systems.

“This arrangement with Spindle gives Multi-max an excellent foundation to substantially grow our business,” said (name), (title) of Multi-Max. “Mobile commerce represents an exciting opportunity to reach new partners and customers, and deliver compelling marketing services that can easily translate into revenue. Spindle’s unique ability to combine all these services into one seamless solution makes this partnership particularly appealing.”

About Spindle, Inc.

Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio—which include patents pending—that encompass networks, mobile payments, and security. For more information, visit spindlehq.com.

About Cardis

Based in Cedarhurst, NY, Cardis Enterprises International (USA) Inc. provides unique solutions for cost effective processing of low value payments. Cardis supports all payment form factors, whether cards, mobile devices or digital wallets and works across all payment channels, whether physical retail, online and mobile commerce, benefitting all parties handling everyday small payments, opening up vast opportunities to displace cash, and removing the cost barriers that hamper the growth of electronically accepting low value payments, typically those below $25. The company’s parent holds several patents, and currently distributes its services to merchant acquirers, financial institutions and payment service providers. For more information, please see www.cardis-international.com.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Aalok Jariwala

U.S. BankDigital Product Leader

Aalok Jariwala - Product Manager, Mobile Payments/Offers/Banking, , Aalok brings with him entrepreneurial aspiration & acumen with his extensive experience in area of Mobile Banking, Payments & Offers (branchless banking in emerging countries). Currently, Aalok holds product manager position at U.S.Bank. Prior to U.S. Bank, Aalok worked as Director of Product & Sols at SourceTrace Systems for branchless mobile banking/payments solutions heading south east Asia products. Aalok hold™s Master of Science degree in Computer Science from San Jose State University, a post-graduate degree in Computer Engineering, a diploma in Business Management and a diploma in Mechanical Engineering.

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