Updating the market, Frankfurt Xetra-listed European sports betting operator mybet Holdings SE has confirmed that it has entered a strategic development partnership with tailored payments platform provider UMT United Mobility Technology AG (“UMT”).
The partnership will see white label technology developer UMT assist mybet with the creation of a ‘gaming/betting specific’ customer loyalty programme.
Both companies have signed a ‘letter of intent’, detailing the framework for cooperation. mybet states that it will use UMT’s smart data and blockchain-led competencies to revamp its customer loyalty programme.
Furthermore, both companies will work together to implement a new UMT-led payments system, which will act as mybets lead customer payment processing function.
“The overarching objective of the cooperation is to generate an economic advantage for both companies. At mybet the electronic payment services and the customer loyalty programme from UMT connected to them shall support the expansion of the customer base and shall create competitive advantages” detailed mybet in its corporate update.
Securing the partnership, UMT will invest approximately €500,000 in the development of its mybet projects. mybet governance detailed that it would begin work on creating its new customer loyalty programme by H1 2018.
UMT is a specialist digital payments platform developer, which has worked with a number of major German banks and high street retailers such as REWE, ARAL and DM.DE.