SOURCE: Spindle, Inc.

November 15, 2012 15:57 ET

Spindle Announces Agreement to Supply Payments Infrastructure to SLIDE

Technology Will Support Mobile Payments Between Consumers and Businesses

SCOTTSDALE, AZ--(Marketwire - Nov 15, 2012) - Spindle, Inc., (OTCBB: SPDL), a leading provider of mobile payments solutions, has announced that it has been selected to provide the foundational payments technology for SLIDE SAFE LLC (SLIDE), a payment platform offered by a consortium comprised of Anadyne Enterprises of Florida and Signature Card Services of Los Angeles, California. SLIDE expects to introduce its mobile payments product to select MetroPCS distributors in metropolitan Philadelphia and Fort Lauderdale later this month, offering the SLIDE branded service to business customers.

"We are delighted that Spindle has been selected as the enabling partner for SLIDE," said Bill Clark, president of Spindle. "The principals behind this organization have had tremendous success in introducing card payment solutions with a number of consumer-facing brands, such as Subway restaurants' 'Swipe-N-Go' program. SLIDE's plan to deliver a complete off-the-shelf mobile payments solution will give MetroPCS distributors a robust payments solution that will be particularly appealing to businesses looking to accept card payments through mobile devices."

Based in Scottsdale, Arizona, Spindle offers a robust platform that supports consumer and merchant engagement services including payment, couponing, loyalty, and advertising in a secure end-to-end SaaS platform. The company's platform, which is white-labeled by financial institutions, mobile operators, and other organizations, is used to facilitate transactions among individuals and businesses. Spindle offers a technology-agnostic platform that manages customer boarding, risk and underwriting, and transaction processing.

As part of the agreement, Spindle will provide its secure payments infrastructure for the SLIDE offering. Through Spindle's Payment Services Provider (PSP) platform, merchants are underwritten and boarded in a simple one-step process. The mobile merchant is able to use their service upon leaving the MetroPCS store, and has full access to SLIDE's comprehensive customer support.

"The SLIDE-Spindle venture will allow our company to leverage its established card processing solutions into the rapidly emerging market of mobile payments," said Cliff Teston, a co-founder of SLIDE and chief executive officer of Signature Card Services, an industry-leading provider of payment processing services since 1997.

"We expect to deliver one of the best mobile acquiring products in the market," said Edward Slominski, co-founder of SLIDE and managing director of Anadyne Enterprises. "Our partnership with Spindle enabled us to quickly deliver a robust and secure mobile payment service under the SLIDE brand to our customers. As a result, we anticipate that our customers will have first-to-market advantage among their peers in this fast evolving mobile commerce market. By adding Anadyne's proven program management and high touch service elements, we believe we can provide businesses with a seamless, secure, and reliable method to get paid through their mobile device."

About Spindle, Inc.

Spindle is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in "Frictionless Finance", the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices. The Company also owns and has developed an extensive intellectual property portfolio, including patents pending, covering networks, mobile payments and security. For more information, visit www.spindlehq.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 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.

Contact Information

  • Spindle Contact:
    PR Contact
    Glenn Goldberg
    Chief Executive Officer
    Parallel Communications Group
    516-705-6116
    Email Contact

    Investor Relations Contact:
    Jason Assad
    678-570-6791
    Email Contact