DIEMO and CYNOVO sign MOU to revolutionize payments in Latin America with the UTIL Android payment tablet
On its lauch at the Mobile World Congress, DIEMO AND CYNOVO announced the Util tablet which will fulfill a need in the mobile payments ecosystem by allowing card-present transactions on an leading edge rugged android-based .
- Miami, FL (1888PressRelease) February 26, 2013 - Diemo International , a leading ecosystem provider for mobile-based transactions and banking solutions to communications service providers, financial institutions , government and retailers, has entered into a memorandum of understanding (MOU) with Cynovo Inc., a global leader in providing total design and manufacturing services for customized tablets and mobility payment solutions for business environment .
Diemo and Cynovo announced the agreement at the Mobile World Congress 2013, which started today in Barcelona, Spain. This partnership brings to the market the UTIL tablet, the most innovative combination of a highly secured and EMV2000 enable solution on an Android based tablet designed for use in small and medium enterprises.
The UTIL tablet is an e-Payment Android device which can be customized, designed and built for a variety of industries such as retailing, distribution, gaming, online sales and hospitality industries. The tablet comes loaded with Diemo's secure payments software over USSD in GSM networks. Payments can be made over MSR, EMV, NFC readers. Components includes an ARM cortex processor, 7" LCD screen, capacitive touch panel, SD technology, Wi-Fi, Bluetooth, a battery last over 10 hour, with optional 3G, LTE and CDMA modules.
Francis Medrano, Regional Director, at payments provider Celpago commented:
"We are excited by this announcement by Diemo and Cynovo. As a matter of practice, we actively seek partners with innovative ideas to ensure the strongest depth of expertise and breadth of solutions are delivered to our customers. The reputation and capabilities of Diemo and Cynovo in the payment industry make this agreement a shining example of their partner ecosystem and it enables synergies and creates mutual value for our partners and our customers."
Cynovo will integrate Diemo's USSD-based mobile payment solution in the latest version of Android, which is hosted in a secure redundant cloud to speed integration to MNO partners. By pre-integrating Diemo's solutions into the UTIL tablet offering, Diemo can deliver real time, card present, acquiring for payment network providers in a mobile setting. Customers can also use their cards to pay online at card present rates. The partnership will also immediately widen the scope of business opportunities that Cynovo can address among service providers, retailers and financial institutions through the additional range of services delivered through Diemo.
Roman Martinez, CEO of Diemo commented:
"We are very excited to partner with Cynovo, one of the premier pioneers in hardware development to deliver our next generation payment platform, the UTIL tablet to customers around Latin America and the world. We see a growing opportunity to address requirements for real-time payment and monetization solutions for wireless, retail, online and cloud service providers across the region and we feel that our partner strategy is critical to fulfilling this opportunity."
Henry Chen, Founder & CEO of Cynovo, said:
"We are delighted to be partnering with Diemo to innovate how people conduct mobile commerce. The combination of Cynovo's global expertise in the hardware design, mobile payment customization and manufacture industries and Diemo's acclaimed reputation of superior ecosystem quality will certainly bring value to the partnership and the end customers. This partnership assures to deliver benefits for both the entities through a wider scope of business opportunities and greater depth of payment focused solutions delivered for service providers globally."
Notes to Editor
About Diemo:
Diemo is a mobile payment ecosystem that combines brick and mortar locations with leading hardware and software to enable transactions for the banked and unbanked populations in Latin America. Established in 2007, Diemo International is the parent of the wholly-owned operating subsidiary Diemo Inc. and its various subsidiaries. References to Diemo refer to the combined operations of those entities. For more information, visit www.diemo.com.ve
About Cynovo:
Cynovo is a global leading provider of customized tablets and mobility solutions for vertical business environment, including finance, healthcare, hospitality, retail, services, logistics and transportation. Originally founded in Silicon Valley in 2007, Cynovo currently offers a broad range of Android, Windows, and Linux-based tablets, which are designed for mobile professionals and business owners who require real-time computing and mobile payment processing capabilities at the point of service or sale (POS). Built on its core hardware and embedded technology, Cynovo's customized tablet solutions provide users the ability to gather, access, analyze and transmit the critical information and process electronic payments with high level of power, security, portability and manageability. For more information, visit www.cynovogroup.com
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