Cinterion Wireless Modules and PassTime USA Team Up for Innovative M2M Payment Assurance Solution for Automotive Financing

MUNICH & LITTLETON, Colo.--Cinterion Wireless Modules, the global leader in cellular M2M communication modules, and PassTime USA, a leading provider of payment assurance solutions for the specialized finance industry, have teamed up to launch PassTime Elite II, a miniaturized M2M device for payment reminders and vehicle tracking. PassTime Elite II, the first M2M solution to integrate Cinterion’s new BGS3 LGA (land grid array) module, provides payment alerts, GPS tracking and starter interrupt functions when loan payments are overdue or in default.

“Working with the M2M veterans at PassTime has been extremely rewarding because they have the experience to accurately access module and solution needs and the knowledge to appreciate the value of Cinterion’s cutting edge LGA modules,” said Peter Fowler, regional president, Cinterion Americas. “Together, our teams designed a highly reliable and cost-efficient solution for high-volume automated manufacturing.”

Cinterion’s BGS3 module is optimized for size and performance and features LGA surface mount technology with flexible soldering for efficient, fully automated manufacturing and process consistency. BGS3 offers scalability, a broad range of specialized features, an ultra compact footprint and backward and forward compatibility for full design flexibility. All Cinterion LGA modules have full type approval for cost-efficient certification and a shorter time to market.

“Cinterion has been an ideal technology partner, providing an excellent module along with outstanding integration and engineering support,” said Jeff Karg, director of vendor relations, PassTime USA. “With the BGS3 module integration, we were able to design a sophisticated device with optimized features while integrating a smaller antennae and compact form factor for discreet under-the-dash mounting.”

The Cinterion-powered PassTime Elite II is an easy-to-install, compact device for GPS tracking and data communications between a vehicle and a lender and/or car dealer that decreases the risk of loan default and loss of property by providing timed payment alerts and starter interrupt services. Exact GPS location information enables asset retrieval if vehicles are stolen or abandoned. The device provides both lenders and consumers a flexible and cost effective tool to help make payments on time, improve consumer credit ratings and secure below subprime as well as prime auto loans. With the device mounted under the dash, consumers have greater flexibility in selecting auto financing and are sometimes able to secure lower interest rate loans.

“Recently, consumer credit ratings have dropped – the percentage of prime auto loans has fallen by 8 percent and below subprime loans have become the fastest-growing automotive loan segment,” said Chris Macheca, executive vice president of operations, PassTime USA. “The Cinterion-powered PassTime Elite II gives lenders and consumers a smart M2M payment assurance and tracking solution that comes with the confidence necessary to provide financing for many vehicles. Some of the key benefits from this technology – more timely payments, starter interrupt and pinpoint GPS tracking – can help safeguard lenders in the subprime auto loan industry.”

For more information about Cinterion Wireless Modules or PassTime USA, please visit www.cinterion.com and www.passtimeusa.com.

About Cinterion Wireless Modules

Cinterion Wireless Modules is the worldwide leading supplier of cellular machine-to-machine (M2M) communication modules and combines unparalleled M2M engineering expertise and localized worldwide customer support with a strong portfolio of high-quality GSM, GPRS, EDGE, HSDPA and UMTS products. Cinterion is a reliable partner and valued by many vertical market customers for its award-winning modules which enable machines, equipment and vehicles to communicate over wireless networks helping enterprises dramatically cut costs and increase productivity and efficiency. Cinterion products are carrier and FTA approved and used for industries including remote maintenance and control; metering; payment systems; industrial PDAs; routers and gateways; security systems; health care; automotive and eToll; tracking and tracing; environmental monitoring and more. The firm’s global headquarters are in Munich, Germany with sales and support offices in local markets around the world. For more information, please visit: www.cinterion.com.

About PassTime™ USA

Headquartered in Littleton, Colorado, PassTime™ supports and enhances the specialized finance industry through an entire family of Payment Assurance solutions. Founded in 1992, PassTime™ invented the industry's first starter interrupt device in 1997. The PassTime™ family of products improves customer payment performance and reduces default and repossession risks. PassTime™ is proud to offer code-based, wireless, and GPS products and services designed to fit the needs of all our customers.