SOURCE: Spindle Mobile Inc.

May 09, 2011 13:34 ET

Spindle Mobile Names William Clark as President

Respected Mobile Payments Technology Veteran to Lead Company's Executive Management Team

NEW YORK, NY--(Marketwire - May 9, 2011) - Spindle Mobile, an emerging leader in mobile payment technology that allows for the secure, efficient and convenient transmittal and receipt of monetary payments via Short Message Service "SMS," today announced it has named William Clark as its President.

Clark joins Spindle Mobile with more than 20 years of experience in business operations, sales, marketing, and product development in the payments industry with many successful releases of new payment technologies and products. Prior to joining Spindle Mobile, Clark was Executive VP and General Manager for Apriva LLC where he led the North American operations for the mobile payments technology company. He was responsible for the strategic direction and execution of Apriva's national marketing initiatives, sales teams, client and customer service, and product management, serving 350 reseller channels. Under his leadership, Apriva captured a 65% market share for mobile acquiring products, and he opened new markets in cashless vending and smart phone based mobile acquiring by signing fortune 100 partners.

Prior to Apriva, Clark served as General Manager of Wireless Products, Director of Emerging Technology, at First Data Merchant Services and First Data Resources. During his 17 year tenure, Clark pioneered the delivery and sales of emerging technologies over a wide range of markets including Internet banking, electronic bill presentment, web-based merchant services, RFID/NFC and the release of TCP/IP and 3G wireless acquiring products. Clark is an active industry volunteer and just completed two years of service as the Chairman of the Membership Committee for the Electronic Transaction Association. He holds a Bachelor of Science degree in Electronics and Management from Southern Illinois University and an MBA from University Nebraska Omaha.

"I'm excited to be a part of Spindle Mobile where we are developing a truly unique and completely secure mobile payment solution which is reinforced by its rich intellectual property portfolio. I strongly believe the market is ripe for our offering which uniquely ties together the key pieces needed to make mobile commerce work on a mass market scale. Until now, the pieces have been operating independently but no one has brought them together under a fully integrated solution. Spindle Mobile's solution reduces 'friction' related to converting and transacting while enhancing our competitive set, enabling hardware, software, networked solutions, location based solutions, marketing engines, and nurturing systems," stated Clark.

Spindle Mobile Chairman David J. Ide commented, "Recent studies indicate that by the end of the year 2012, there will be 150 million people using mobile devices to purchase goods and services worldwide. It is also predicted that while shoppers will order $2.2 billion in physical goods via mobile in 2010, they predict that by 2015, that number will soar to $119 billion." Ide explains, "My past experience as the CEO of a mobile advertising company led me to realize the gap in marketing programs came in the final step: converting or transacting, when the customer actually makes the purchase. This was the area with the greatest friction. Spindle Mobile was founded on the principal of offering choice, security, and simplicity. Our Spindle Mobile team has put together a unique turnkey solution fortified by our robust patent portfolio which will complement mobile marketing, social media, and consumer direct programs. We are pleased to have Bill on our team. His experience with mobile payments, internet banking, and electronic bill payment is a wonderful background. Bill will lead our team as we develop new payment capabilities for the mobile marketplace."

About Spindle Mobile Inc.
Spindle Mobile 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 enables buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices, this includes RhinoPay, a frictionless way to pay. 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

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.

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