payleven Goes Live with Europe's Leading Mobile Payment Solution; Chip & PIN Solution Fully Certified by Visa and MasterCard

BERLIN and LONDON, February 8, 2013 /PRNewswire/ --

payleven, Europe's mobile payments pioneer, launches its innovative Chip & PIN solution across Europe. From today, businesses of any size can sign up for the solution on payleven.com and purchase the device at a special introductory price of EUR 49, (excl VAT). The shipment of devices starts on the 18^th of February.

With Chip & PIN, payleven is fully compliant for all major debit and credit cards. payleven is Visa Europe's first full payment service provider (PSP): its device is officially certified by Visa to accept all Visa and V-Pay branded cards. payleven is also fully certified by MasterCard and Maestro. Many other mobile payment providers remain focused on signature-based solutions which offer lower security levels and so cause major problems with card acceptance.

Co-Founder and CMO Konstantin Wolff: "We are excited to launch the perfect solution for the European market. Since Visa requires PIN authorization at the mobile point of sale in Europe, we are now in the position to allow our merchants to accept the leading card brand in the world - Visa. With Chip & PIN we can offer our merchants the highest security standard in card payments whilst being fully mobile, more flexible and convenient than traditional card terminals."

With customers across the European continent, payleven is the first Pan-European mobile payments company live with a fully certified Chip & PIN solution. payleven's Chip & PIN solution works through a compact, secure device that links to a smartphone or tablet via Bluetooth. The PIN is entered on a keypad on the device. Chip & PIN offers the same level of security as a traditional card terminal, with full EMV Level 2 and PCI certification. As a result, merchants have the maximum level of fraud protection (which non-PIN solutions cannot provide).

payleven's pricing is affordable, fair and transparent. Fees are "pay as you go": exclusively transaction-based at 2.75% of the transaction value. The device is sold at an introductory price of [GBP / EUR] 49 (excl VAT). There are no minimum revenue amounts, no monthly fees and no hidden costs. The Chip & PIN solution will be offered in all payleven markets across Europe, including UK, Germany, Italy, the Netherlands and Poland.

About the company

payleven, Europe's mobile payments pioneer, is a start-up with its headquarters in Berlin and London and was founded in March 2012. payleven is founded by a group of young entrepreneurs who want to do things differently from the way big businesses operate. Our team members come from the payments and financial services industry (including large corporations like American Express, MasterCard, Travelex and Visa as well as small payment startups) and also from the software and technology sectors. The company is under the leadership of Co-Founders Rafael Otero, Alston Zecha, Dr. Alexander Zumdieck as well as Konstantin Wolff and currently employs around 70 employees. payleven is already available in Germany, the Netherlands, Italy, Great Britain, Poland and Brazil. Further press material and information can be downloaded at https://payleven.co.uk/press/

Press Contact
Nils Seger
Tel. +49-162 / 290-4641
press@payleven.com