UMT United Mobility Technology AG: UMT announces strategic decision for vertical integration along the value chain, offering payment, acquiring and banking services
Munich, 13 March 2018?Ad hoc release UMT announces strategic decision for vertical integration along the value chain, offering payment, acquiring and banking services UMT United Mobility Technology AG has decided to integrate important elements of its value chain by expanding into payment services processing (PSP) and acquiring, e-money payments and banking services for corporate and retail clients, under the various applicable regulations of the financial supervisory authorities. With this step, UMT will significantly expand its value chain and will be rounding off its unique selling proposition by responding to modern regulation (i.e. PSD2), as well as customer needs and requests. As operator of one of the largest mobile payment platforms in Europe, this expansion will eliminate costs associated with the use of third-party processing and will provide a platform to offer customers a much larger variety of products in the payment, finance, loyalty and crypto markets. UMT has offered its mobile payment and loyalty platform to corporate clients primarily on a white label basis yet and will from now on grow into a European payment, banking and loyalty services provider for corporates and end users alike.
13-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: UMT United Mobility Technology AG Brienner Straße 7 80333 München
Germany Phone: +49 (0) 89 20 500 680 Fax: +49 (0) 89 20 500 555 E-mail: email@example.com Internet: www.umt.ag ISIN: DE0005286108 WKN: 528610 Listed: Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
663361 13-March-2018 CET/CEST