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Freeport Capital Inc. (FAS:CNSX) InvoiceASAP And Hybrid Paytech Team Up For Mobile Payments, Invoicing And POS

Stocks in this article: FAS

New Solution Addresses Growing Need for On Demand Payment and Printing

SAN FRANCISCO, CA, Dec. 10, 2012 /PRNewswire/ - InvoiceASAP, a recognized leader in mobile business solutions is partnering with Hybrid Paytech (Freeport Capital Inc: FAS: CNSX), to provide fully integrated mobile business solutions combining mobile payments, invoicing & POS. These solutions will allow businesses to use existing merchant accounts in the field in conjunction with mobile invoicing and POS applications that are fully integrated with accounting software. Leveraging Hybrid's payment platforms with invoiceASAP's mobile applications will allow users to process credit card payments for invoices and retail sales at lower rates using existing merchant accounts.

"This partnership will give Mobile Invoicing and Mobile POS users much lower mobile processing rates without having to switch merchant accounts or use one of the existing mobile credit card processors that typically charge 2.7% or more," said Paul Hoeper, CEO of invoiceASAP. "These seamless solutions finally tie mobile payments with invoicing, POS and accounting ."

Hybrid Paytech is one of the first mobile payment companies to develop Payment Card Industry (PCI) compliant Debit and Credit applications across the mobile market's five major consumer-based operating systems. According to research released by VDC in 2011, the mobile worker population exceeded one billion in 2010. With an increasingly mobile and distributed workforce, this population will grow by over 10 percent during the next three years. Mobility—and the technology that drives it, including mobile printers—is critical for improving business agility and responsiveness.

"Our partnership with invoiceASAP really hits home for the established merchant who needs to enable payment without having to create a new financial account to do so.'' states Kevin Conabree, Head of Strategic Development and Partnerships, Hybrid Paytech, ''Invoicing and taking payment as a business shouldn't be a whole new process, so delivering payment using existing merchant accounts for mobile credit and full PIN-Debit over consumer-based mobile technology makes a lot of sense."

Initial rollout of the joint solution is scheduled for the US market in Q1 2013 and will be deployed internationally with the help of Hybrid's 100+ banking network connectivity by the end of Q2 2013.

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