MANILA, Philippines, Jan. 10, 2014 /PRNewswire/ - Hybrid PayTech World Inc (CNSX: HPT) (OTC: FPOTF) announced today that Smart eMoney Inc. (SMI) the financial services subsidiary of Smart Communications Inc. (Smart), and Hybrid PayTech Asia Inc. (Hybrid) have collaborated for the deployment of a pioneering mobile payment ecosystem platform to enable enterprise and retail businesses in the Philippines.
Under the recently signed agreement, SMI will use the HybridVIRTUO Ecosystem Platform for mobile point-of-sale (mPOS) roll-out which includes a unique host of solutions for easy integration with other existing payment systems. The scalable Hybrid platform will enable SMI to deploy a full suite of compliant mobile payment solutions for businesses and includes Hybrid's HybridMPOS APPs, a mobile application built on the most popular operating systems for wireless devices such as Android, IOS, BB, and Win6,7,8.
Hybrid's platform which allows for multi-device interoperability using Bluetooth or audio-jack payment acceptance units will offer clients of SMI the ability to acquire mPOS MasterCard credit card transactions, allowing processing and acceptance of card payments conveniently. Plans are underway for SMI to deliver online debit using Personal Identification Number (PIN) system with existing Philippine Automated Teller Machine (ATM) cards for smartphones, tablets and mobile enterprise devices. This mPOS platform operates on all mobile platforms: IOS, Windows, Android, Blackberry, and all major and most local mobile devices brands.
The system is also compliant with the Payment Card Industry Data Security Standards (PCI-DSS), the global security standard that helps to prevent card and data fraud by evaluating payment account data security and assessing an organization's network architecture, software design, security policies, procedures and protective practices.
"This engagement with SMI is the first in the Philippines to showcase complete live mPOS transactions. We are excited to work with SMI to enable services and to expand the product line in the near future. Smart through SMI represents a strong opportunity for Hybrid as we launch in the Philippines and prepare for expansion within the country and in other Asia countries. Financial institutions and telcos are aggressively pursuing deployment of mobile technology to deliver safe, secure, and easy to use mPOS systems that accept different cards of cards." said Gary Repchuk, Director at Hybrid PayTech Asia.
"We look forward to rolling out this platform and building more offerings for our clients, including Smart and PLDT subscribers. This will definitely help spur more mobile payment transactions by building an ecosystem of enabled merchants and empowered card holders who will now have more services available for their needs." said Benjie S. Fernandez, managing director at SMI
At a recent Smart fundraising event at the Mall of Asia Arena for the Filipinos effected by Super Typhoon Yolanda (Haiyan), SMI utilized the new mPOS devices to accept donations from credit cards. Hybrid's solution enables SMI merchants to process MasterCard and in the near future other credit cards and Pin Debit/ATM transactions, using their own smartphones or tablets. The event provided an opportunity to pilot run the solution to the public.
About Smart e-Money, Inc.
Smart e-Money, Inc. (SMI) is a pioneer in mobile banking and mobile wallet services, implementing a proprietary mobile commerce infrastructure that spans various products and services across different market segments. SMI provides opportunities for financial institutions to introduce their services to unbanked customers, and for mobile network operators to expand the range of products available to their customers. It provides open mobile payments processing with value-added services. Its platform has expanded across Latin American countries, with services launched in Brazil and Argentina in partnership with MasterCard Worldwide. SMI is a subsidiary of Smart Communications, Inc., the leading wireless services provider in the Philippines. Visit www1.smart.com.ph/corporate or www.pldt.com info (NYSE: PLDT)
About Hybrid PayTech World Inc. (CNSX:HPT) (OTC:FPOTF)
Hybrid PayTech World Inc. Develops an Enterprise Ready Mobile Payment Platform for the leading OS's (IOS, Android, BB and Windows 6,7,8). The Corporation's holding, First Equity Strategy LLC, markets itself with the DBA: Hybrid PayTech. International subsidiaries include Hybrid PayTech Asia Inc, Hybrid PayTech Aspac HK Ltd, Vault Acquiring Solutions LLC and Mobi724 Inc.
Hybrid PayTech based in Montreal, Canada, is a technology leader in the mobile payment space for EMV& MSR credit and debit acceptance. With a global footprint, Hybrid is an enabler of easily-deployable payment systems focusing on authentication, approved security and quick merchant adoption in Fleet, Delivery, Logistics and Retail. For more information on Hybrid PayTech, visit www.hybridpaytech.com or www.hybridpos.com
The Canadian National Stock Exchange (CNSX) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United States.
SOURCE Hybrid PayTech World Inc.