PAYBACK app wins the “Goldene Transaktion” award – UMT supplies mobile payment technology
Mobile payment is enjoying growing popularity in Germany. The first “Goldene Transaktion” award was given out at the end of January at the “Payment Exchange 2017” conference in Berlin in recognition of outstanding and innovative solutions in the mobile payment sector. First place went to the PAYBACK app, whose integrated payment function makes it the best payment solution of the year. The app’s combination of point collection, coupon activation and mobile payment won over the initiators of the award and the jury alike. “The PAYBACK app is distinguished by its efficient combination of multiple services of relevance for customers,” said RatePay founder Miriam Wohlfarth, a member of the jury, upon the conferral of the “Goldene Transaktion” award. UMT United Mobility Technology AG (German Securities ID: 528610, ISIN: DE0005286108) is responsible for the mobile payment technology in the PAYBACK app.
“We congratulate PAYBACK on this award. The bestowal of this honor on PAYBACK is also a recognition and appreciation of our know-how,” commented UMT’s founder and CEO, Dr. Albert Wahl, who added as follows: “This confirms our position that the future lies in the user-friendly combination of payment applications and customer loyalty programs.” The jury’s requirements included improving the payment process, optimizing conversion, improved usability and real added value for users. “The criteria were very comprehensive and demanding. As a result, we are all the more pleased that our solution was able to meet the high requirements,” Dr. Wahl continued.
Michael Eichhorn, Head of the Mobile & Location Based Services (LBS) Department at PAYBACK, stated as follows: “We are proud to be the first winners of the “Goldene Transaktion” award. This distinction confirms to us that we made the right decisions in designing and implementing the new PAYBACK app, and that our vision with regard to our partner companies and customers was correct. By combining loyalty and payment, we have made mobile payment more attractive for consumers and retailers alike.” With 29 million customers in all, PAYBACK creates added value which others cannot match.
The new PAYBACK app was launched in June 2016 and is already one of the most popular shopping apps in Germany, with 10.5 million downloads. This strong demand is founded on the app’s technological versatility. Two leading mobile payment technologies, QR and NFC, are combined into a single solution. Customers can use both for their payment needs.
Payment with the PAYBACK app is now accepted at Alnatura, Aral, dm-drogerie markt, GALERIA Kaufhof and real,- stores. Other major partners will also begin offering the payment function in 2017, including REWE. Customers of all major PAYBACK partners can already collect points and activate coupons at the same time.