Banco de Sabadell, S.A., the fourth largest banking group in Spain, and Mobile Payment System España S.L., subsidiary of German listed company UMT United Mobility Technology AG, have signed a strategic collaboration agreement for a mobile payment program for the Spanish market. This cooperation contract underlines another milestone for the targeted European rollout of iPAYst, UMT’s combination of mobile payment services and loyalty program.
Banco de Sabadell, S.A., with more than 6,2 million clients and 2.320 branches, will act as acquiring bank for the mobile payment operations platform iPAYst and introduce the new payment method to its clients together with UMT United Mobility Technology AG.
The „UMT Mobile Payment Platform“ will be helping Banco de Sabadell clients to increase sales by taking the customer straight from the buying impulse to a completed transaction through a single, intuitive screen on the customer’s mobile device. The QR-Code based system allows merchants to streamline the checkout process in online stores, use print media as a direct sales channel and create a true multi channel experience through point of sales integration all while incorporating existing business logics such as loyalty schemes. The platform is marketed under the own label „iPAYst“, as a co-branded open-loop solution, as well as a white label product.