Alexander Frankenstein, head of business development at UMT, discusses the growth opportunities in the international mPayments market, the group’s strategy and lessons learnt from the failures of other fintech operators and the group’s own mistakes.
He explains the group’s progress in rolling out mPayment and couponing services to the German Payback scheme, which covers 45% of the German retail market, and its progress in international expansion, which is part of UMT’s strategy of following its customers. Also in the spotlight is UMT’s recent acquisition of mobile prepay platform, prelado, and its plans for strengthening the proposition with the addition of e-couponing and expanded marketing and cross-selling.
UMT is a German fintech specialising in mobile payments, loyalty schemes, vouchers and e-couponing. The company has created and operates the largest platform for mobile payments in Europe for the Amex-owned loyalty scheme, Payback.