UMT United Mobility Technology AG expands its international positioning with an own subsidiary in the US. The mobile payment specialist will establish its already in Germany successfully introduced Mobile Payment and Loyalty platform in North America. This step is necessary on account of the great demand and to correspond to the requirements of the capital market and major customers. The customer side primarily encloses internationally active financial institutions. The head office of the new US-subsidiary UMT USA Inc will be in California. Herewith the UMT United Mobility Technology AG expands its global presence around the market of North America.
The widespread of smartphones and the openness to technological innovations show that the market of North America has a large potential for mobile payment applications. According to experts the transaction volume in the area Mobile Payment should increase drastically in the US market between 2015 and 2019 from $ 8.7 bn to $ 210 bn.
“We are very happy about the huge interest of American financial institutions and technology enterprises and with the foundation of the UMT USA Inc we lay the base of further sustained international growth. The US offers a very dynamic market which we can serve excellently with our technology platform. Besides, the need in the area of modern payment systems and solutions will rise significantly during the next years. The expansion to North America will bring us a big step forward“, explains Dr. Albert Wahl, CEO of the UMT AG, the strategical decision.