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Follow on Google News | ALTPAY Mobile Payment Company Wins 2014 South Florida Innovation AwardBy: ALTPAY “ALTPAY has been successfully up and running since March in the South Florida area, providing secure and private mobile payment technology that saves merchants money and builds loyalty with customers making everyday purchases,” said Victor Cook, managing partner of ALTPAY. “We are proud to receive the Innovation Award which recognizes the creativity, talent and perseverance of our dedicated team.” To qualify for the 2nd Annual Innovation Award, a product or service only can have been introduced within the past three years and the company must be headquartered in South Florida. ALTPAY, which works on Android, Windows and Apple smartphones, fills an unmet need for a mobile payment service for the retail customers of mid-market retailers, including supermarkets, grocers, pharmacies, convenience stories and gas stations. These retail customers include the unbanked, which represents more than 9 million households in the United States, plus the 25 million under-banked households, who have bank accounts but use alternative services outside the banking system. Users can “top off” their phones with cash in hand or from a banking account. Shoppers receive a secure code to pay for goods at stores registered with ALTPAY by punching into the secure app the purchase amount and store location. The company announced earlier this month that it received a $1 million equity investment from two family office investors. It plans to launch its mobile payment services in Latin America in the first quarter of 2015. ALTPAY (www.altpayusa.com) offers secure, cost effective mobile payment solutions to retailers who want to connect with their customers, understand their customer’s needs demographically and offer loyalty programs. End
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