UMT United Mobility Technology AG (UMT) and the multi-partner bonus programme PAYBACK are redefining their successful cooperation. Since 2016, the UMT platform has formed the technology basis for the market-leading mobile payment function PAY within the PAYBACK app. As part of the further development of the UMT platform, PAYBACK is now acquiring a license from UMT for the independent operation of PAYBACK PAY. In future, the customer-specific function module will be managed by PAYBACK itself.

In return, UMT will be able to offer the functionalities previously used exclusively by PAYBACK to other customers as part of an open-loop solution. In combination with the announced launch of its own aggregation app LOYAL, which enables customers to combine payment services from different providers in a single application, UMT offers the user an even greater degree of flexibility and freedom of choice, while at the same time achieving the highest possible level of acceptance. This gives UMT greater independence and a promising future in a dynamically growing market for mobile payment. Over the entire term of the cooperation with Germany's largest bonus programme, UMT has succeeded in positioning itself as a reliable technology partner in the market, increasing awareness of innovative mobile payment systems and reaching important milestones in development work. UMT will build on this foundation and continue on the path to growth and the creation of sustainable values.

“We have reached a point in the company's development at which we would like to broaden our strategy. The acquisition of PAYBACK's license rights once again proves the value and sustainability of UMT technology in a highly competitive market with players such as Apple, Google, Alipay and WeChat. This agreement will provide UMT with significant cash resources on the one hand, and on the other we will achieve a new level of independence with regard to the distribution of our technology. We are immediately in the advantageous position of being able to offer our mature and stable performing UMT platform functionally completed in a dynamically growing market for mobile payment. This market is undergoing a disruptive change process. Especially in Germany, customer preference for payments is shifting away from cash towards cashless payment alternatives. With our white label solution, we make it possible for any provider to link mobile payment with loyalty programs. It is our aim to use this offer to convince new customers of our proven, practical and secure payment option combined with additional functionalities that were previously reserved for PAYBACK, and thus significantly accelerate the existing scaling of the UMT platform", says Dr. Albert Wahl, CEO of UMT AG.

Download this Corporate News

About PAYBACK:

PAYBACK is the leading international multi-partner loyalty program and one of the biggest and most powerful marketing platforms in the world. In Germany, customers can collect points with PAYBACK at more than 650 companies that are relevant to everyday life and redeem them for vouchers, awards or Lufthansa miles, or donate them. In 2017, the value of the collected points was EUR 381 million, of which 95 percent were redeemed by customers. PAYBACK communicates synchronously through all channels – offline, online and mobile – and optimally combines reach with personalization, in-store sales and the digital world in the process. Companies have the option of running integrated campaigns through all available channels. The PAYBACK app is among the most popular and most successful shopping apps in Germany, with 14.5 million downloads. Further information: www.payback.net

About UMT AG:

UMT United Mobility Technology AG is a FinTech company specialising in the development and implementation of customised mobile payment and blockchain solutions, particularly for major customers. As a white label technology provider, the Company operates, amongst others, one of the largest mobile payment platforms in Europe. UMT acts as a central interface between all relevant parties such as large retail chains, banks, bonus programme providers and end consumers. UMT's technology is in live operation at around 16,000 branches and 71,000 checkouts. In Germany alone, over 14 million users can use UMT's mobile payment technology. In addition, UMT offers its customers services in the area of customer loyalty programs and smart data along the entire value chain. With the innovative LOYAL-App, UMT offers its users an efficient way to use loyalty programs and a modern mobile payment solution.

The UMT United Mobility Technology AG share (GSIN 528610, ISIN DE0005286108) is traded on the Frankfurt Stock Exchange and is listed on the Basic Board of Deutsche Boerse AG.


Would you like to be informed about the latest news?

This site uses cookies to provide a better user experience. By using this site you accept that we use cookies.
More information