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
