Vancouver-based PayWith has developed new mobile payment solutions, an app that allows merchants and shoppers to perform in-store transactions with their mobile devices and a mCard.

The new solutions are made with an investment of over $10m. PayWith had signed a license agreement with a major global payment network provider in North America, allowing a number of merchants in North America, who can process credit cards, to now accept mCards through PayWith platform.

PayWith CEO, David Strebinger, said the mCard is a really simple way for shoppers to securely purchase goods and services using nothing more than their phone.

"Merchants who sign up to use this PayWith technology will be able to offer a convenient and secure mobile payment platform and open a new door to marketing directly to their customers – with no new hardware or software required.

"With a North American licensing agreement in place, PayWith is uniquely positioned to take advantage of the transformation in payments and marketing which is well underway. The introduction of the mCard will help transform how merchants and shoppers interact by making the ‘mobile wallet’ a reality, available to anyone with a smartphone," Strebinger added.