Questions? Contact us at

Wallet Database


1st of September 2016


  • SummaryiPAYst is a cards-based digital wallet for in-store (via QR-code) and online purchases on mobile devices operating in multiple markets and launched in 2010. iPAYst has been developed by the German company UMT AG.

  • Website

  • Status: Live

  • Market: Spain (Mar-15)

  • Type: Other

  • Ownership: UMT AG (in Spain is serviced by Banco Sabadell)

  • Functions: Retail payments only

  • Payment Mode: Cards-based

  • Channel: POS via QR code, WEB

  • Roadmap: n/a

User Experience

  • Registration & set up: Registration process is done through the app, which is available on App Store and Google Play. User adds a card within the app. Several cards can be added (Update to follow – Further information being obtained)

  • Making a payment: User scans the code on the purchase receipt. Authenticate with PIN code. Internet access is required. App must be open

Payment Flows & Technology

  • Merchant perspective: Payment is made once a week via SEPA transfer (Update to follow – Further information being obtained)

  • Security: UMT assures that the data protection is guaranteed, since the data isn’t stored on the phone, but on an external server. “The data entered by the user in the application are stored on a server with five levels of security and PCI (Payment Card Industry) certification level 2”

Business Model

  • Strategy: “The result was the strategy of not marketing our “iPAYst” payment platform exclusively under our own label, but instead convincing our business partners in retail and e-commerce to make use of UMT’s iPAYst technology in implementing their own very different and entirely valid customer relationship and payment methods, as part of a “white labelling” arrangement.”

  • Payee fee: The fees are agreed between Banco Sabadell (in Spain) and the merchants

  • Payer fee: No charge for consumer 

Performance Data

  • Launch date: Germany (2010)

  • Closed Date: N/A

  • Users: No data yet

  • Retailers / merchants: No data yet

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: No data yet 

Contact (MobeyForum Members only)

  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A