Skip to main content
Corporate News

PAYBACK acquires license rights from UMT AG

By 18. December 2018May 11th, 2022No Comments

PAYBACK acquires license rights from UMT United Mobility Technology AG – agreement increases UMT’s independence and opportunities

UMT United Mobility Technology AG (UMT) and the multi-partner bonus programme PAYBACK are redefining their successful cooperation. Since 2016, the UMT platform has formed the technology basis for the market-leading mobile payment function PAY within the PAYBACK app. As part of the further development of the UMT platform, PAYBACK is now acquiring a license from UMT for the independent operation of PAYBACK PAY. In future, the customer-specific function module will be managed by PAYBACK itself.

In return, UMT will be able to offer the functionalities previously used exclusively by PAYBACK to other customers as part of an open-loop solution. In combination with the announced launch of its own aggregation app LOYAL, which enables customers to combine payment services from different providers in a single application, UMT offers the user an even greater degree of flexibility and freedom of choice, while at the same time achieving the highest possible level of acceptance. This gives UMT greater independence and a promising future in a dynamically growing market for mobile payment. Over the entire term of the cooperation with Germany’s largest bonus programme, UMT has succeeded in positioning itself as a reliable technology partner in the market, increasing awareness of innovative mobile payment systems and reaching important milestones in development work. UMT will build on this foundation and continue on the path to growth and the creation of sustainable values.

“We have reached a point in the company’s development at which we would like to broaden our strategy. The acquisition of PAYBACK’s license rights once again proves the value and sustainability of UMT technology in a highly competitive market with players such as Apple, Google, Alipay and WeChat. This agreement will provide UMT with significant cash resources on the one hand, and on the other we will achieve a new level of independence with regard to the distribution of our technology. We are immediately in the advantageous position of being able to offer our mature and stable performing UMT platform functionally completed in a dynamically growing market for mobile payment. This market is undergoing a disruptive change process. Especially in Germany, customer preference for payments is shifting away from cash towards cashless payment alternatives. With our white label solution, we make it possible for any provider to link mobile payment with loyalty programs. It is our aim to use this offer to convince new customers of our proven, practical and secure payment option combined with additional functionalities that were previously reserved for PAYBACK, and thus significantly accelerate the existing scaling of the UMT platform”, says Dr. Albert Wahl, CEO of UMT AG.