SAN DIEGO, Feb. 22, 2016 /PRNewswire/ -- Netclearance, Inc. today announced that it's been nominated as a finalist in the Best Cash Innovation category by PYMNTS.com for leading the revolution in mobile payment experience for their private mobile payment terminal network, which is separate from other card networks so a retailer or bank can deploy innovative payment experiences, collect user data and lower transaction fees.
This recognition comes after weeks of deliberation, over 600 submissions, and the most exhaustive vetting process in the industry to compete for a Gold, Silver or Bronze medal to be awarded at the PYMNTS Awards Dinner on March 17th at the conclusion of the Innovation Project 2016, http://www.innovationproject.com/2016-innovator-awards/ where the most meaningful minds, emerging disruptors and entrepreneurial visionaries in the worlds of payments and commerce converge.
Netclearance has been selected after being evaluated across several quantitative and qualitative elements. Experts have made the decision by taking to consideration, company's experience, industry recognition, technical certifications, market penetration and positive client reviews.
Unlike traditional credit-card based mobile solutions the new solution developed by Netclearance allows payment transactions to run on private rails via a mobile app and a small payment terminal connected to the cash register, hence banks and retailers can deploy their own private mobile payment network independent from card networks and handset manufacturers.
"We are honored to be recognized for the work we are doing to transform mobile payments into a powerful engagement opportunity," said David Fernandez, CEO of Netclearance. "Leveraging proximity technology, the cloud and mobile apps, the new mobile payment system allows banks and businesses to learn more about their customers, connect with them in real-time, boost profits and reduce merchant processing fees from payment transactions."
"With over 20,000 merchants' locations across Scandinavia, including banks like Danske Bank and major chains like Starbucks and McDonald's, is clear this new cash-based mobile payment method paves the road to cashless societies" said David Fernandez, CEO of Netclearance.
PYMNTS.com is reinventing the way in which companies share relevant information about the initiatives that shape the future of payments and commerce and makes news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about "What's Next" in payments and commerce. C-suite executives, company founders, and investors turn to it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. It's where the best minds and best content meet on the web. Innovations in payments and commerce have become highly intertwined. PYMNTS covers every aspect from retail reinvention to the Internet of Things. For more information, visit: http://www.pymnts.com
Netclearance Systems, Inc. provides one of the industry's most comprehensive portfolios of active smart beacon hardware and software enabling low power wireless proximity solutions to meet a broad range of applications including active RFID, mobile payments, presence analytics, asset tracking, workforce management, and many other applications. Distributed through partners, customers include Danske Bank, McDonald's, Starbucks, Rema 1000 and many others. The company is based in San Diego, and has offices in U.K., Denmark and Spain. For more information, visit: http://www.netclearance.com
For further information about Netclearance Systems visit www.netclearance.com and Twitter @netclearancesys
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SOURCE Netclearance Systems, Inc.