UMT United Mobility Technology AG signed Letter-of-Intent with mybet Holding to develop a new payment and customer loyalty programme
The Management Board of UMT United Mobility Technology AG has signed a letter of intent with mybet Holding SE, Berlin. The Letter of Intent defines the framework conditions for a cooperation between UMT and mybet for the development and introduction of an innovative payment processing solution (“Payment”) for mybet’s gambling services.
In addition, UMT offers its customers services in the area of customer loyalty programs and smart data using blockchain technology along the entire value chain. In this context, a new customer loyalty program for mybet associated with payment processing is to be developed.
The mybet Group, licensed in several European countries to offer sports betting and online casino games, has its registered office in Berlin and locations in Cologne and Malta. mybet offers its betting and gaming products over the internet platform mybet.com as well as at land-based betting shops operating under a franchise system. In addition, the group supplies regional betting providers in Europe and Africa as a B2B service provider As a white-label technology provider, UMT operates one of the largest mobile payment platforms in Europe.
The overall objective of the cooperation is to generate an economic advantage for both companies. At mybet, the new electronic payment services and UMT’s associated customer loyalty program are intended to support the expansion of the customer base and generate competitive advantages. In the Letter of Intent, UMT has also announced plans to invest EUR 500,000 in the new customer loyalty program to support the use of the UMT payment solution by mybet’s customers. UMT would expand its customer base by the cooperation and provide the technology infrastructure by means of blockchain solutions to mybet as the first gambling provider in Europe to be able to offer and process innovative payment functions in the future. In addition, mybet assesses the possibility to implement UMT’s services in the area of general electronic payment services.
Negotiations and concrete project planning, as well as the examination of the technical feasibility, will begin at short notice. Both companies aim to launch the new customer loyalty programme on 1 February 2018, in case both the contract negotiations have been successfully concluded by then, and the technical work can be implemented. The signed Letter of Intent does not oblige any of the two companies to conclude a binding cooperation agreement and permits a unilateral withdrawal from the project at any time.
mybet Holding SE
The mybet Group, licensed in several European countries to offer sports betting and online casino games, has its registered office in Berlin and locations in Cologne and Malta. mybet offers its betting and gaming products over the internet platform mybet.com as well as at land-based betting shops operating under a franchise system. In addition, the group supplies regional betting providers in Europe and Africa as a B2B service provider.
mybet Holding SE is the parent company of the mybet Group. The shares of mybet Holding SE (ISIN DE000A0JRU67) are listed on the Frankfurt Stock Exchange in the Prime Standard.