Paymobile Partners on Major Government Contract

TORONTO, ON: Paymobile Inc. (“Paymobile” or the “Company”) a leading financial services technology company providing businesses and government complete program management services for a wide range of open loop prepaid and virtual card programs, announced today that it is the solutions partner for a significant government contract. The agreement has a three -year term with optional one-year term extensions.

About Paymobile

Paymobile Inc. is a leading financial services technology company providing businesses and government complete program management services for a wide range of open loop prepaid and virtual card accounts. Paymobile enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, cheque replacement cards and online virtual card accounts. Paymobile also provides advanced mobile technology enabling businesses to provide their customers a white label mobile client application with the ability to manage their card balances, transfer funds and perform card to card money transfers in real time using their mobile devices.

FOR FURTHER INFORMATION PLEASE CONTACT:
Paymobile Investor Relations
1 (855) 859.2965
investor@paymobile.com
www.paymobile.com
FORWARD-LOOKING STATEMENTS:
This news release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like “anticipate,” “expect,” “project,” “continue” and similar words. These statements are based on the Company’s and its subsidiaries’ current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include consumer acceptance of the Company’s products, its ability to deliver new products, the success of its strategy to broaden market channels and the relationships it has with retailers and distributors. The risks associated with any investment in PYMB, should be evaluated together with the risks and uncertainties more fully described in the Company’s Annual and Quarterly Reports filed with the Securities and Exchange Commission.
-30-

One increasingly common money management tool for people in this situation is prepaid cards. These cards look and work much like regular debit cards except that instead of funding them through a checking or savings account, you load money on the card by cash, check, funds transfer or direct deposit by an employer or government entity.

Read the full post here.

by: Jason Alderman
Huffinton Post
10/5/11 05:28 PM ET

UK-based Aconite is a provider of software and consulting services for managing business applications on chips in smart cards and mobile phones.

Paymobile’s prepaid programme is now integrated with Aconite’s smart card prepaid and application management platform which will allow customers to move to EMV prepaid card products with ease.

Gino Porco, president and CEO of Paymobile said: “EMV is a progression which we believe will soon totally replace magnetic stripe cards.”

Aconite prepaid value manager aims to support smart prepaid products that can be used with both online and offline terminals; in contact or contactless mode, and closed or open-loop schemes.

Aconite said the initiative demonstrates the company’s commitment to the Canadian prepaid services market.

Read the full post here.

by: By Anthony Tshibangu
17 January 2012

The City of Toronto is providing a personalized, reloadable card using CHIP and PIN technology to benefit recipients who cannot use direct deposit. Paymobile acted as the Program Manager throughout the development of the City of Toronto program, drawing on our extensive knowledge and experience in delivering prepaid card programs. As the City of Toronto realized, when looking to deliver services more efficiently to those without access to a bank account and reduce payment costs, prepaid cards are the logical choice.

Reloadable Prepaid cards are gaining broader acceptance with consumers, businesses and all levels of government looking to expand their electronic payment options. “We are witnessing the emergence of new payment models globally and Paymobile offers the technology and program management experience to deliver efficient solutions to our Corporate and Government customer’s’ states Gino Porco, CEO & President.”

Launched in 2009, Zoompass is a mobile-based, stored-value payment service with a companion contactless payment card linked to the same account. Available through Apple iTunes, Google Play and Blackberry app stores, Zoompass enables person-to-person money transfers and online transactions, while the companion card allows cash withdrawals and transactions at retail locations that accept card based payments.

“Since its inception, Zoompass has proven itself a reliable and robust mobile-commerce platform,” said Gino Porco, Chief Executive Officer of Paymobile. “As a leading payments program manager, Paymobile offers the tools to help Zoompass realize its full potential, and we are pleased to add it to the payment services we offer our customers. The scalability of Zoompass will allow us to expand our mobile wallet platform into numerous new countries.”

“As the mobile commerce ecosystem has evolved, EnStream’s focus has shifted to enabling established credential issuers and carriers to leverage the potential of NFC (near field communication) in mobile handsets,” said Almis Ledas, Chief Operating Officer of EnStream. “The operation of a payment service is no longer required for us to fulfill our mandate. We are pleased that Paymobile, a market leader in card management and stored value payments, is acquiring Zoompass.

About Paymobile
Paymobile Inc. is a leading financial services technology company providing businesses and government complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Paymobile enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, cheque replacement cards and online virtual card accounts. Paymobile also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. For more information about Paymobile, visit www.paymobile.com.

About EnStream
EnStream was created to deliver payment capability over the mobile handset and is evolving to become a common mobile commerce interface between Canada’s mobile carriers and the Canadian ecosystem for NFC enabled transactions. For more information about EnStream, please visit www.EnStream.com.

For more information, please contact:

Paymobile Investor Relations
1 (855) 337-8088
investor@paymobile.com

EnStream
(416) 365-9000 ext 200
info@enstream.com

http://www.marketwire.com/press-release/-1713790.htm