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ValidSoft joins Spindle to secure mobile payments

22 May 2012

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ValidSoft, a wholly owned subsidiary of Elephant Talk Communications Corp., has forged a strategic partnership with Spindle Inc., a U.S.-based provider of mobile commerce and alternative payment solutions for merchants and consumers. As part of the relationship, ValidSoft will provide Spindle with its custom-built, advanced multilayered, multifactor authentication and transaction verification technologies: Secure Mobile Architecture for Real-time Transactions (SMART) that will be integrated into Spindle's RhinoVerify security solution, the companies revealed.

Spindle claims to be a pioneer in, and at the forefront of frictionless finance, and a provider of alternative and mobile commerce payment platforms. Spindle is actively pursuing what Mercator Advisory Group recently published is a 16 million underserved micro merchant addressable market. In addition, the company is pursuing about 58 million households actively engaged in online and mobile commerce money movement as reported by Javelin Research.

Spindle's patented portfolio includes RhinoPay, a simple, mobile, secure payment solution that enables person-to-person, person-to-business, business-to-person and business-to-business payments. The RhinoPay platform is accessible universally through any networked or mobile device and delivers superior flexibility by enabling payments through credit and debit cards, check, closed loop and ACH transfers, noted the company.

Spindle's RhinoVerify solution is a verification process that uses instant messaging, SMS and other technologies to authenticate purchases and transactions. It works for all modes of transactions, including mobile commerce, e-commerce and traditional retail.

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