PHOENIX, March 3, 2014 /PRNewswire/ -- New Media Insight Group, Inc. ("New Media" or "the Company") (NMED), a leader in mobile payments, has introduced a mobile payment solution, CloudPay, that is revolutionizing the mobile payments industry by providing an easy and cost-effective solution for retailers and consumers alike.
CloudPay reduces merchant transaction fees by as much as 80% by accepting payments on any smartphone or WiFi-enabled device. This new payment innovation can save merchants tens of thousands of dollars every year
"By making use of simple mobile technologies, we can make paying with mobile secure and easy for consumers while lowering fees for merchants," said Michael Palethorpe, CEO of New Media Insight Group. "Merchants processing $250,000 per month in credit card transactions can save $5,000 in fees each month simply by transacting with CloudPay. We are helping these merchants secure an extra $60,000 of net profit on a yearly basis."
CloudPay comes with a free mobile and web app for merchants and consumers, no monthly fees and only takes minutes to set up.
"CloudPay is simply the evolution of payments," Palethorpe added. "It is simple for a consumer to use, more cost-effective for the merchant. I believe in five years or less, we will barely remember a time when people paid any other way."
Merchants can find out more about mCards, Cloud Payments and other New Media Insight Group solutions at: http://www.newmediainsights.com
About New Media Insight Group, Inc.
New Media Insight Group, Inc. (OTCBB: NMED) is an innovative mobile payments company. New Media Insight recently launched mCards, a system that allows merchants to accept mobile payments without any additional hardware other than an existing terminal that takes MasterCard. New Media Insight is employing a grassroots strategy to increase mCards adoption, focusing its efforts on building alliances with non-profits that already have strong relationships with merchants.
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SOURCE New Media Insight Group, Inc.