Wildcard Wireless Solutions Inc. (CDNX:WDC.) is pleased to announce the completion of a Memorandum of Understanding (MOU) with Pocket IT AS of Oslo, Norway.
Pocket IT is a developer of value added location based services applications for the mobile commerce and Internet technology sectors.
This MOU establishes a framework for a strategic relationship that leverages the mutual synergies and activities of each company. The objective will be to cooperatively examine and develop location-sensitive, transaction-oriented applications that enhance Wildcard and Pocket IT's product and service offerings.
Both companies will develop a scope of work document that outlines value-added location based services Wildcard can potentially offer mobile merchants in conjunction with its Wireless Point-of-Sale (WPOS) device, the TransAKT(TM). In addition, the two companies will explore revenue sharing mechanisms as it relates to merchant-oriented location-based services, and where appropriate, Pocket IT plans to work closely with Wildcard's wireless partners to greatly enhance "in-the-field" product functionality and mobile customer productivity.
"We are looking forward to exploring opportunities that can employ Wildcard's mobile payment solutions and Pocket IT's location-sensitive services to enhance the mobile organization's experience. Various forecasts say the Location Based Service market will top $20 billion in 2005, and Location Based Services will amount to 10 percent of the $1.8 trillion transactions made wirelessly," said Bill Atkinson, Wildcard's CEO.
"Pocket IT is excited about the opportunity to work with Wildcard Wireless to enhance the value of its service offering by adding Location Based Services. Pocket IT's Location Based Services provide personalized, timely and relevant information to the mobile merchant to increase efficiency and customer loyalty," comments Petter Nyborg, CEO of Pocket IT.
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