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Social Play USA to Acquire Next-generation Remote Mobile Payment Technology
Social Play USA to Acquire Next-generation Remote Mobile Payment Technology.
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[{"type":"text","content":"\n\n\n\nSocial Play USA to Acquire Next-generation Remote Mobile Payment Technology\n\n\n\n\n\nSocial Play USA to Acquire Next-generation Remote Mobile Payment Technology\nPR Newswire\nLAS VEGAS, May 9, 2017\n\n\n\nLAS VEGAS, May 9, 2017 /PRNewswire/ --\n\nSocial Play USA, Inc. (OTC Pink Sheets; Symbol SPLY), ('Social Play' or the 'Company') announces that it has entered into a binding Letter Of Intent ('LOI') with Spot and Pay Inc. ('Spot&Pay') of Henderson, Nevada.\n\nThe binding LOI covers the acquisition of a unique and robust consumer mobile payment application predicated on the rapidly expanding use of QR codes for individual product purchases, charitable giving, and bill payment options.\n\nSpot&Pay is a mobile payment application that is used in connection with third party QR codes that have been generated for specific uses; i.e. individual consumer products, specific services or group of services offered to the general public, B2B product and service offerings, monetary donations to charitable organizations, and quick and easy bill payments on recurring monthly accounts.\n\nQR codes allow consumers a quick, simple, and paperless method of making purchases, donating to their favorite charity, and paying bills. The process relies on setting up a Spot&Pay mobile payment account attached to a credit card or direct debit account and then simply scanning a QR code with a mobile device for a particular product or service the consumer wishes to purchase. The Spot&Pay application will instantly facilitate the order and purchase of the product associated with the QR code and pay for it from the pre-designated method of payment set up by the user.\n\nThe most unique aspect of the Spot&Pay application is the ability to purchase products remotely, without having to visit a website or physically attending a retail establishment. This is accomplished simply by scanning a product's QR code wherever it can be seen; such as from a bus shelter advertisement or other media, i.e. television or computer screen situated in a public space.\n\nWhile QR Codes have been used for years in direct marketing, they are only quite recently being used more widely for mobile, remote purchasing, banking, and payments. Wal-Mart, which introduced QR code payment solutions as part of its Wal-Mart Pay feature in 2015, reports that usage of...