SOURCE: Spindle Inc

December 15, 2014 08:30 ET

Spindle Signs Agreement With TekTango to Offer Bundled POS Payment Processing Services and Hardware

Mobile Commerce Leaders Join Forces to Offer a Robust Suite of Embedded Services That Increase Profitability for Merchant Acquirers

SCOTTSDALE, AZ--(Marketwired - December 15, 2014) - Spindle, Inc. (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced that it has entered into an agreement with TekTango LLC, a global payment technology provider, to create an affordable bundle of robust payment applications that support a wide-variety of point-of-sale (POS) hardware. Through this arrangement, merchant acquirers, ISOs and resellers will be able to leverage a sophisticated selection of payment processing services and POS peripherals that accommodate various vertical merchant segments. When combined with Spindle's payment aggregation platform, the two companies can offer a rich POS solution that addresses multiple market segments.

Included in these new services will be a NFC POS device which supports numerous transaction types, including EMV, ACH, ApplePay®, gift and loyalty card acceptance, as well as an integrated cash drawer option for recording cash sales. The solution can be branded by resellers to support their individual marketing strategy. The Spindle-TekTango bundle will deliver a unified platform for retail and mobile payment acceptance using both iOS and Android devices. This package will be aggressively priced and subsidized, making it an affordable solution that will satisfy merchant demand, as well as serve as a lucrative tool for ISOs and sales agents to market.

"The POS bundle from Spindle and TekTango allows merchants to cost-effectively accept new payment types, such as EMV and ApplePay®, and expand our offering to providers at a competitive cost structure," said Bill Clark, chief executive officer at Spindle. "This is an exciting development for resellers who want to take advantage of advanced payment technologies while strengthening their own revenues and brand, without having to manage a complicated technology integration. By joining forces with TekTango, we have the opportunity to introduce these compelling services to new customers, and make it easier for them to grow their businesses."

"There are various POS technologies available that achieve some of these advanced POS functions, however, many of these third-party applications disrupt the sensitive price points required to be cost-competitive, and often result in a fragmented solution," said Russ Palermo, founder of TekTango. "Leveraging Spindle's payment processing engine, we can now provide EMV- and ApplePay-ready POS devices that offer an assortment of powerful embedded services, while delivering a gold-standard business solution. Instead of relying on third-party solutions, merchants can now leverage a streamlined and affordable POS ecosystem which levels the playing the field and creates a more lucrative revenue-sharing model for ISOs and resellers."

Merchant acquirers, ISOs and agents can visit www.spindle.com for more information on contracting to resell the new POS bundle.

About Spindle

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 includes patents pending-that encompasses networks, mobile payments, and security. For more information, visit www.spindle.com.

About TekTango

Based in Tampa, FL TekTango LLC is a pioneer in mobile payment processing introducing the first mobile point of sale app on Apple's original iPhone in 2009. We continue to set the pace by launching the first ApplePay POS transaction terminal and software application for both iPhone and iPad devices. In use today by thousands of merchants globally, TekTango's unique and vendor neutral POS transaction technology enables financial institutions, payment processors and their merchant service providers to compete with companies like Square, PayPal, Intuit and Amazon. TekTango's POS technology processes credit card, PIN-debit, PayPal, EBT, Gift/Loyalty, EMV cards and NFC transactions including ApplePay® which follow PCI compliant security standards. For more information visit www.tektango.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.

Contact Information

  • Public Relations Contact
    Glenn Goldberg
    Chief Executive Officer
    Parallel Communications Group
    516-705-6116
    ggoldberg@parallelpr.com


    Investor Relations Contact
    Chris Meinerz
    Chief Financial Officer
    Spindle, Inc.
    480-295-8059
    cmeinerz@spindle.com