Market Overview

Spindle Announces Partnership with CheckAlt

Relationship Allows Consumers to Accept and Deposit Checks Through Mobile Devices; Property Management Firm Bancroft Rents is the First to Adopt Spindle's New Mobile Check Acceptance Capability

SCOTTSDALE, Ariz., Jan. 16, 2013 /PRNewswire/ -- Spindle, Inc., (OTCBB:SPDL), a leading provider of mobile payments solutions, announced today it has entered a partnership with CheckAlt, a Los Angeles-based Check 21 solutions company. Through this agreement, Spindle will offer its mobile commerce customers the ability to accept and deposit checks via their mobile phones through CheckAlt's check acceptance platform.

"We're excited to be working with CheckAlt to deliver a new payment medium to our customers," said Bill Clark, president of Spindle, "The ability to easily accept and deposit checks via mobile devices is a sought-after service that is becoming increasingly popular. Delivering this functionality adds tremendous value to Spindle's platform, and will serve our customers' needs well into the future." 

Through this technology, Spindle's consumer end-users and mobile merchants can use their smartphone camera to take a photo of a check. The CheckAlt check processing technology will then manage the Check 21 clearing process.   In addition, Spindle will offer a web-based check acceptance solution for on-line merchants that will allow them to accept checks through web sites. Bancroft & Associates, a regional property management company headquartered in Tucson, Arizona, has signed with Spindle to integrate web-based check accepting technology through the Bancroft website.  

"Spindle is an innovative force in mobile payment solutions.  We are proud to join forces with them to help expand our mobile check acceptance technology," said Shai Stern, chairman and chief executive officer of CheckAlt.  "As mobile devices become more ubiquitous, we expect that both merchants and consumers will be eager to use Spindle's solution to conduct payments, and participate more fully in the emerging mobile commerce ecosystem."

About Spindle, Inc.

Spindle is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in "Frictionless Finance", the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices. The Company also owns and has developed an extensive intellectual property portfolio, including patents pending, covering networks, mobile payments and security. For more information, visit www.spindlehq.com.

About CheckAlt

CheckAlt is among the country's premier payment processing companies providing Check21 services, allowing businesses nationwide to utilize its eCheck and patented Remote Desktop Capture (RDC) systems to improve their top and bottom lines.

CheckAlt's unique partnership strategy, its in-depth industry knowledge, and innovative processing solutions assist its clients in bringing additional revenue through a value added network of affiliated CheckAlt clients. In addition, CheckAlt enables its clients to reduce associated costs in transaction processing over the internet.

CheckAlt's unique RDC empowers businesses, credit unions, municipalities, non-profits, and community banks by enabling them to locally deposit scanned checks virtually while reducing associated internet transaction processing costs. Streamlined clients experience the benefits of receiving funds in less than 12 hours without having to change banks or accounting systems.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Spindle, Inc.

 

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