Spindle, a provider of mobile payments technologies for the banking industry, has acquired MeNetwork, an international location- and time-based mobile marketing platform for merchants and consumers.
Terms of the transaction remained undisclosed.
Commenting on the acquisition, Spindle president Bill Clark said, "The addition of MeNetwork’s capabilities gives Spindle a best-of-breed solution which includes customer outreach, prospect nurturing, and frictionless payment processing for purchases with a mobile device."
"Spindle provides the ‘Building Blocks’ for our channel partners to build a branded, full-service, mobile experience for their customers."
After completion of the transaction, the acquirer will integrate MeNetwork’s technology to build a modern mobile commerce network having location- and time-based mobile marketing, fulfillment, and loyalty with mobile payment services.
Merchants will be able to directly connect with consumers through this single technology and can establish robust relationships to drive commerce, establish customer loyalty, through their mobile devices.
Spindle provides secure payment services by providing advance technologies that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices.