DND Technologies has Announced That it has Signed a Letter of Intent to Acquire 40 Percent of M-CodeOne, a Mobile Payments Te...
03 June 2013 - 11:52PM
OTC Markets
DND Technologies has Announced That it has Signed a Letter of
Intent to Acquire 40 Percent of M-CodeOne, a Mobile Payments
Technology Platform.
NEW YORK, June 3, 2013, DND Technologies, Inc. (?DNDT?), a
diversified holding company that acquires, invests in, and partners
with next generation start-ups and established businesses to
bring new or improved products to market today announced that it
has signed a letter of Intent to acquire 40 percent of M-CodeOne, a
mobile payments technology platform.
Developed by a U.S. company, M-CodeOne is a Mobile Payments
Platform technology that processes mobile payment transactions with
a single code (CodeOne) at the exact instant of the transaction,
and is capable of identifying the end user, the bank account, the
type of card, and the cost of the purchase in milliseconds.
M-CodeOne is designed
to be a multi-bank, multi-acquirer, multi-operator platform, so
thin or thick infrastructure, hardware, software, architecture, and
carrier level all operate with the greatest facility on the
platform. It runs in JAVA, Android, IPhone, and
Blackberry.
?Though many people believe that mobile payments are now
ubiquitous, globally we are at the very tip of the iceberg?, said
Jonathan Peters the recently appointed DNDT president. The mobile payments market in the
U.S was $12.8 billion in 2012. But Forrester research
anticipates that the U.S. mobile payments market will reach $90
billion by 2017, growing by more than 48 percent per
year. Juniper Research
expects that the global mobile payments market will reach $1.3
trillion by 2017?but that will only be about 4 percent of all
global retail transactions.
?Well managed, we believe that this will be an excellent project
for DNDT. Until a few
days ago, Brazilian law made it impossible to engage in mobile
payments without the direct involvement of a local
bank. However, new
mobile payments rules released just last month by Banco Central do
Brasil, the Brazilian Central bank, has cleared the way for
non-bank actors such as M-CodeOne acting on its own, and Cenutri,
DNDT?s mobile supermarket technology that, when fully deployed,
will now run on an M-CodeOne platform to operate without a direct
banking partnership,? said Mr. Peters.
Both the U.S. and global markets for mobile payments are still very
wide open. Though some
big business actors in the U. S. are in the early stages of
offering mobile payments to their customers, middle-market and
small-business actors are still very far behind. DNDT and M-CodeOne expect to
begin exploring the possibility of platform deployment and the
targeting of the vast majority of middle and small businesses in
the U.S. and other international locations that will have to enter
the mobile payments market to stay competitive in the very
immediate future.
M-CodeOne's no download, no cell tower signal, requirement was
developed especially for new businesses entering the mobile
payments market, since the immediate deployment of business
solutions will be possible without the need for extended deployment
time for applications to be downloaded into millions of cellphones.
It is also a global solution that works anywhere any and almost any
place, and able to complete mobile payments transactions secure,
easy, and fast for individual users and companies using a
M-CodeOne's mobile payments? platform, including businesses that,
because of their physical location are out of range of the
cellphone grid.
Flexibility and security make M-CodeOne a complete mobile payments
solution in that it does not require any user to adhere to any
particular financial institution, bank, or private label
enterprise. Individual customers and merchants can use whatever
accounts they already have and the solution is capable of
integrating them into the services offered by the
M-CodeOne.
Additionally, M-CodeOne also works on the very basic mobile phones
(read your grandmother?s cellphone), not just
smartphones. And may
be used with any of the millions of points-of-sale terminals
(cashier?s credit card reader) currently in use. This will help to facilitate the
merchants? transition to mobile payments since they will be able to
continuing their existing credit card terminals to process
M-CodeOne payments without a generalized ability to process other
mobile payments software.
M-CodeOne is NFC ready, and all necessary infra-structure and
application solutions are easily interfaced with NFC hardware and
software infra-structure using one API to interface the M-CodeOne
protocol when NFC equipment is available almost everywhere in the
market at large.
The Letter of Intent calls for the signing of a Memorandum of
Understanding between DNDT and M-CodeOne within three months,
detailing the various terms of the acquisition, and the subsequent
cooperation between the two companies.
There is much material on the Internet about M-CodeOne. While the software is updated
constantly, the material on the Internet is not. DNDT will be issuing updated
information about the software for its shareholders in the coming
weeks.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
Media Contact:
DND Technologies, 800-341-8940
E-Mail:
info@dndtechnologies.com
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