SCOTTSDALE, AZ -- Spindle Inc. and Cardis USA have joined forces to launch a payment platform designed to lower the cost of processing small-ticket transactions like vending purchases.
Spindle said it initially plans to deploy the new platform in vending, foodservice and quick-service restaurants. It estimates that merchants who use the new network will save up to 50% on debit and credit card transaction fees.
Cardis USA's technology enables several consumer transactions made at different retailers to be handled with only one transaction processed through the payment network, significantly lowering the overall transaction costs.
The Cardis USA platform will be integrated with Spindle's overall PSP (payment service provider) processing solution later this year. It will also be included in the MeNetwork360 Mobile wallet being offered to Spindle's 350,000 consumer mobile app users and 6,000 participating merchants.
"The introduction of the Cardis solution in the United States is a breakthrough development for merchants that rely on low-value payments," said Spindle chief executive Bill Clark. "Our ability to offer an attractive pricing structure combined with our aggregation model can be considered a disruptive force in the payments industry by offering substantial cost efficiencies that legacy providers simply cannot match."