Urban FT Acquires Wipit to Become a Dominant Provider of White-Label Digital Banking Solutions
Urban FT Group Inc., a leading provider of white-label digital banking applications for bank and non-bank issuers, has today confirmed it has completed the acquisition of Wipit Inc., a provider of digital wallet solutions to the MVNO market.
New York, New York, September 3, 2015 (Newswire.com) - Urban FT Group Inc., a leading provider of white-label digital banking applications for bank and non-bank issuers, has today confirmed it has completed the acquisition of Wipit Inc.
Wipit is a well-known provider of digital wallet solutions to the MVNO market and is perhaps best known for its recent deals with Boost Mobile, Sprint Corporation and Pinsight Media. In addition, Wipit has strategic relationships with RIA, ePay and Euronet Worldwide.
The acquisition further strengthens our ability to provide comprehensive end-to-end digital banking solutions for non-bank issuers who have a captive and loyal customer base. The Telco vertical is a clear example of this, and is complementary to the services we already offer small card-issuers and payment processors.
Richard Steggall, CEO
Richard Steggall, CEO and co-founder of Urban FT, said “the acquisition further strengthens our ability to provide comprehensive end-to-end digital banking solutions for non-bank issuers who have a captive and loyal customer base. The Telco vertical is a clear example of this, and is complementary to the services we already offer small card-issuers and payment processors.”
Urban FT is focused on giving small card-issuers the ability to compete with, and even leap-frog the offerings of the big card-issuers. The UFT solution successfully delivers consumers with best-in-class banking functionality, social features, and targeted deals as part of a single lifestyle application. As a processor-agnostic platform, UFT allows card-issuers to better engage their customers, increase brand touchpoints and develop new lines of revenue.
As part of its continued growth initiative, in 2016 Urban FT will expand its existing solutions to include a comprehensive digital wallet using HCE that enables in-app payments as well as in-store NFC payments.
Following the acquisition, Urban FT is invested in by Euronet Worldwide, H&R Block, Core Innovation Capital, and a number of high-net-worth individuals.
Contact:
Mark Brannan
mark.brannan@UrbanFt.com
Mobile – 813 625 3424