UMT United Mobility Technology AG - M&A Activity 2012

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Corporate | 29 March 2012 09:52

UMT United Mobility Technology AG: UMT arranges cooperation agreement with the PayFair group

UMT United Mobility Technology AG / Key word(s): Alliance

29.03.2012 / 09:52

Munich, 29th of March

Corporate news

UMT arranges cooperation agreement with the PayFair group

In course of the market launch of their mobile payment app, the UMT United Mobility Technology AG (WKN 528610, ISIN DE0005286108) has arranged a cooperation agreement with the PayFair group (www.payfair.eu). The brand name of the international payment solution of the UMT will be iPAYst .

iPAYst is the realisation of a mobile eWallet and offers a new alternative for payments by smartphone. The consumer has to install the application that is free of charge on the smartphone and open an account with his card and/or bank account information. The payment takes place by simply scanning a QR-Code and entering a personal security code.

In a first step the cooperation between the UMT and the PayFair group aims at positioning iPAYst in the Belgian market, followed by a joint international promotion of the product to accelerate the further expansion in the future.

Background:

The UMT AG (United Mobility Technologies AG) develops applications in the mobility and service environment, especially for smartphones. At the moment the product portfolio includes 15 apps and the UMT AG is the owner of various patents. The so-called social networks were the pioneers to merge reality and virtuality. On one hand, online shops, portals and social networks etc have to be transferred to applications to be part of this development. On the other hand there will be new opportunities and business models. The UMT AG takes these advantages and is developing innovative applications. The spectrum of the UMT AG is very versatile. It ranges from social networks to an innovative payment solution by smartphone. In addition to their own projects, the UMT AG also develops applications with complex requirements for third parties.

payfair, a new player in the payments market, serves existing and new markets with best-of-bread innovative and secure solutions for card- and mobile-based payments, offering fair value sharing to all stakeholders.

Payfair has solutions for open as well as closed loop environments, card as well as non-card payments. Payfair supports multiple channels uniformly, is creating new heights in product offering, market penetration and customer convenience and is opening new segments and niches for electronic payments

With its state of the art technology for mobile payments and its advanced security and risk management, Payfair enables business partners to capitalize on existing capabilities and investments, whilst providing for faster market activation and investment optimization.

For further information:

UMT United Mobility Technology AG

Brienner Straße 7

80333 München (Germany)

Tel: +49 89 20 500 680

Fax: +49 89 20 500 555

Mail: [email protected]

Internet: www.umt.ag

Contact: Felix Wallner, CMO

Payfair NV

Mechelsesteenweg 455/19

1950 Kraainem (Belgium)