PayWith named Best Mobile Program at PX Awards

Payments and rewards app recognized as best in class

VANCOUVER and TORONTO, June 4, 2014 /CNW/ - PayWith, a new mobile payments and rewards app, was named the Best Mobile Program in Canada at the PX Prepaid & Payments Awards.  Developed in partnership by PayWith Worldwide and Carta Worldwide, the PayWith app is an innovative mobile payments and marketing solution that simply and securely enables in-store transactions with mobile devices.

The third annual PX Prepaid & Payments Awards by Payments eXchange in Toronto celebrates innovation, best practice and achievement in all aspects of the gift, prepaid and payments industries. The award for the Best Mobile Program honoured the PayWith mobile payments and rewards program that has just been successfully launched in British Columbia.

"In a very crowded space, it is often tough to stand out from the pack," says David Strebinger, CEO, PayWith. "This sought-after award for Best Mobile Program is recognition from experts in the Canadian payments industry that PayWith is well positioned to take advantage of the transformation in payments and marketing which is well underway."

PayWith Worldwide and Carta Worldwide worked together over the past year with Home Trust, MasterCard and Silicon Valley Bank to create the PayWith app, a powerful mobile payment solution that removes virtually all barriers to entry for any merchant looking to accept mobile payments.  The PayWith app allows merchants to decrease their costs of interchange while increasing their ability to track and reward customer actions.

"Our mission is to make Canada the world leader in mobile payment adoption," adds Strebinger. "The Starbucks app and now a Tim Hortons application are strong indications the market is ready.  We believe that our solution is a game-changer for the payments industry."

As mobile technology continues to shape the shopping experience, the mobile payments industry in North America is projected by Forrester to become a multi-trillion dollar industry in less than three years.  Canada is primed for payment transformation with the highest existing per capita use of NFC (Near Field Communication) enabled terminals in the world.  Additionally, with 80 per cent of Canadians now owning smartphones with data plans, Canada is one of the world's most opportune markets for mobile payment adoption.

The PX Prepaid & Payments Awards featured eight award categories that were independently judged by a panel of diverse experts both within and outside the prepaid & payments industry.  In addition to PayWith and Carta Worldwide, other big winners at the show included Tim Hortons for its TimmyMe Mobile App, Esso, and Dell. 

About the PX Prepaid & Payments Awards

The annual Payments eXchange (PX) Prepaid & Payments Awards celebrates innovation, best practice and achievement in all aspects of the gift, prepaid and payments industry. Payments eXchange was established in 2011 to engage and grow the Canadian gift, prepaid, financial, digital, mobile, and payments community.

About Carta Worldwide

Carta Worldwide is an international leader in digital transaction technology, specializing in mobile and emerging payments. Carta's next-generation platform is specifically architected to meet the complexities of the evolving payments environment. It excels where legacy systems are challenged, delivering end-to-end solutions that bridge the gap between financial and mobile systems.

About PayWith

PayWith is a mobile rewards and local marketing platform that allows consumers to simply and securely "Pay With" their mobile device to receive personalized rewards and benefits. The solution uses unique card numbers for every transaction that merchants can enter into their existing credit card terminals via manual card entry, barcode scan, cloud payments, or NFC transaction (coming soon). The 1-time-use mobile card numbers can be processed through traditional credit card processing terminals at a processing rate of 1.25% per transaction, making the mCards (mobile Cards) both inexpensive for the merchant and completely secure for the consumer.

Image with caption: "PayWith (CNW Group/PayWith Worldwide Inc.)". Image available at: http://photos.newswire.ca/images/download/20140604_C2964_PHOTO_EN_2469.jpg

SOURCE: PayWith Worldwide Inc.

For further information: For further information, visuals, or interviews, please contact: Robert MacLean, Public Affairs, PayWith Worldwide, (403) 589-3631, robert.maclean@me.com

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PayWith Worldwide Inc.

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