Paydiant's White-Label Mobile Wallet Selected as a 2014 MITX What's Next Awards Finalist

Recognized for Innovation, Value, and Impact in Most Innovative Mobile Solution Category

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| Source: Paydiant, Inc.

WELLESLEY, Mass., April 14, 2014 (GLOBE NEWSWIRE) -- Paydiant, Inc. today announced that its white-label, mobile wallet solution for merchants and banks has been selected as a finalist in the Most Innovative Mobile Solution category for the MITX What's Next Awards. Other finalists in the category include Crashlytics, LogMeIn, Nuance Communications and Undertone.

Since 1996 the MITX Award shows have grown to become the largest and most prestigious awards competitions in the country for marketing innovations, celebrating the best creative and technological accomplishments emerging from New England. This year MITX combined its annual Innovation and Interactive Awards into a single show recognizing Boston's entire digital ecosystem.

"The finalists that emerged from an unprecedented number of submissions received for this year's MITX What's Next Awards demonstrate the creativity and innovation of our region's rich digital ecosystem," says MITX Board Member and Communispace Chief Operating Officer Howard Kogan, who serves as Chairman of the Awards Advisory Committee. "From startups to large corporations and everything in between, the individuals behind this work continue to raise the bar for the entire digital community."

Paydiant's patented, white-label, cloud-based transaction processing platform enables merchants and banks to quickly integrate mobile payments, offers, loyalty, and ATM cash access into their own branded mobile app. A software-only approach supports existing smartphones and point of sale (POS) hardware, and utilizes a highly secure and scalable solution that easily adapts to evolving technological standards. The solution also enables merchants and banks to control this critical customer touchpoint and avoid having competitive "Meta Wallet" solutions such as Google Wallet, ISIS and PayPal disintermediate customer relationships and usurp valuable customer transaction data and related new revenue opportunities.

"Innovation is as strong as ever in the region and we are proud to be part of it," said Kevin Laracey, co-founder and CEO of Paydiant. "This recognition by MITX is a big honor for our team and an important validation of the value our solution delivers to our customers."

Paydiant will be recognized with the other finalists at a gala awards ceremony traditionally attended by over 1,000 of the region's top interactive marketing and technology professionals. Winners will be announced at a ceremony at the Westin Waterfront Hotel on May 29th. Tickets can be purchased at www.mitxawards.org/The-Ceremony.aspx.

The 2014 MITX Awards are sponsored by: HavasMedia, Miller systems, PwC, tripadvisor, Bingham, Cassidy Turley, SapientNitro, Atom Group.

About Paydiant

Paydiant is the provider of a cloud-based, white label mobile payment, cardless ATM access, offer redemption and loyalty platform that enables merchants, banks, and payment processors to deploy and manage their own mobile payment and ATM access solutions under their own brand and on their own terms. Based on a patented, cloud-based transaction processing platform, the Paydiant solution enables the key stakeholders in the payments value chain – retailers, banks and payment processors – to control the next generation of payment solutions. Visit www.paydiant.com for more information about the Paydiant solution and follow us on Twitter @Paydiant.

About MITX

Established in 1996, MITX -- the Massachusetts Innovation & Technology Exchange -- is the leading industry organization focused on the web and mobile, bringing together the digital marketing, media and technology community to engage in what's next and how it will impact the marketing and business worlds. Connecting more than 7,500 professionals in New England, MITX is a dynamic community of thought leaders and collaborators in search of insight, education and opportunity. Creator of FutureM, MITX is headquartered in Boston, MA. For more information, visit http://www.mitx.org/.

Carrie Page
MITX
617-871-2155 ext. 708


Tim Walsh
for Paydiant
617-512.1641