Zug, 23 March 2018
UTRUST partners today with UMT AG, the largest Mobile Payment Solution providers in Europe. Both will work together to bring cryptocurrency payments to millions of customers.
UTRUST Switzerland AG and UMT United Mobility Technology AG have decided to enter a powerful partnership to revolutionize cryptocurrency payment transactions in Europe. In this strategic move, UTRUST is building a bridge into the traditional point-of-sale market, with UMT currently reaching over 14 million users and 66,500 individual cash points in Europe.
The technology offered by UMT AG, to be licensed to UTRUST, serves over 35% of the German PoS market, providing mobile payments to some of the largest merchants, totaling over 13,650 in Germany alone.
UTRUST and UMT are writing history together, working to fundamentally reduce the entry barriers of cryptocurrency payments for consumers in the German and European market. Merchants can offer their clients payments through a variety of cryptocurrencies, while at the same time receiving their payouts in fiat currency. Consumers will benefit from lower fees and a variety of virtual payment options.
“This cooperation is a big step forward for UMT. UTRUST and UMT are striving to make payment processing more secure and innovative while at the same time creating sustainable added value for all parties. “With our individual core competencies, we complement each other perfectly and create synergies that take our business models to the next level”, says Dr. Albert Wahl, CEO of UMT.
Nuno Correia, CEO of UTRUST, adds: “With UMT we have found the partner to share our ideas of flexibility and innovation in payment transactions. Our cooperation is a wonderful example of mutual success in the sharing economy. We look forward to a successful future together.”
With the recent statement of the BMF stating that it shares the view of the European Court of Justice concerning the equal treatment of Bitcoin and other virtual currencies to fiat currencies, it is time to finally allow for cryptocurrencies to improve the payment experience of customers. Further information can be found at www.bundesfinanzministerium.de.
About UMT AG:
UMT United Mobility Technology AG (http://www.umt.ag/en/) is specialized in the development and implementation of individual mobile payment and Blockchain solutions, especially for large-scale customers, e.g., PAYBACK (American Express Group). As a white-label technology provider, the FinTech company has developed one of the largest mobile payment platforms in Europe. UMT operates between all relevant parties such as large retail chains, banks, bonus program providers and end-users. The technology is currently live in over 13,650 stores and 66,500 cash desks. In Germany, 14 million users can benefit from UMT’s mobile payment technology. In addition, UMT provides its customer’s loyalty programs and Smart Data services along the entire value chain.
About UTRUST Switzerland AG:
UTRUST (www.utrust.com) is the world’s first payment platform for cryptocurrencies, introducing consumer protection on a nationwide scale. The company is building a global PayPal-like payment platform with extensive cryptocurrency support. The long-term goal of UTRUST is to provide all the benefits of faster, safer, more convenient, and cheaper cryptocurrency transactions in conjunction with the world’s first cryptocurrency payment protection, which will ensure consumer acceptance on a large scale. For 2.5 billion people in emerging economies who are not yet benefiting from financial participation, UTRUST also plans to give people without a bank account access to the global financial system. The value of tokens sold in a successful Initial Coin Offering (ICO) last year amounted to 20 million US dollars.
Shares of UMT United Mobility Technology AG (GSIN: 528610, ISIN: DE0005286108), are traded on Xetra, Frankfurt Stock Exchange and are listed in Deutsche Börse AG’s Basic Board segment.
Learn more about UTRUST at: https://utrust.com
Follow UTRUST on Twitter at: https://twitter.com/UTRUST_Official
Company name: UTRUST SWITZERLAND AG
Location: Zug, Switzerland