SOURCE: Cyphermint, Inc.

December 10, 2007 08:00 ET

Cyphermint Chairman Appointed to Lead Mobile Payments Development Task Force

MARLBOROUGH, MA--(Marketwire - December 10, 2007) - Cyphermint, Inc., a leading provider of secure electronic payment solutions, announced today that Cyphermint's Chairman of the Board, Dr. Ivan Kuznetsov, has been named as Project Leader for Mobile Payments of the Information Communication Union (ICU) of Russia.

Dr. Kuznetsov, who is currently Chairman at Bank Tavrichesky in Russia, was also appointed Project Leader for the Mobile Payments Project (NFC and M-payments) at the GSM Association meeting in London on November 23, 2007, where he also made a PayCash Mobile™ presentation.

The GSM Association (GSMA) is the global trade association for mobile operators, representing 700 GSM mobile phone operators across 215 countries of the world. The meeting on November 23rd focused on two major areas: mCommerce and the implementation of NFC technology and the Mobile Money Transfer Program and how it relates to global remittances.

Cyphermint's President Joe Barboza said, "This appointment for Dr. Kuznetsov is a great opportunity and brings more recognition for Cyphermint and PayCash Mobile; it reinforces the global scope for our technology. PayCash technology possesses such high security standards, is multi-lingual, multi-currency, and is positioned to be a worldwide leader in mobile commerce for the unbanked consumer."

PayCash enables consumers to conduct bill payment, mobile banking, person-to-person transfers and retail payments around the world. PayCash is currently available in 16 countries with expansion into 6 additional countries under development. PayCash Mobile is designed to enable cash loading, credit, debit, stored value cards and bank accounts for funding of mobile payments such as mobile banking, bill payment, mCommerce and other payment related services using their existing mobile device since the technology is Java, SMS and WAP compatible.

For more information visit PayCash Mobile at

About Cyphermint, Inc.

Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and E-commerce solutions. Cyphermint's patented technology, PayCash, is used in three major areas: (1) PayCash Mobile technology used by today's web-enabled wireless devices (2) Kiosk Solutions -- delivering web-enabled highly secure self-service B2C merchandising systems, and (3) PayCash Internet Payments providing un-banked consumers access to financial services such as Internet shopping, bill payment and debit cards. Cyphermint's software solutions provide highly secure, highly scalable web-enabled transactional, services to merchants and consumers on the Internet, self-service kiosks and on cell phones, smart phones and Internet-capable PDAs.

About the GSM Association

The GSM Association (GSMA) is the global trade association representing 700 GSM mobile phone operators across 215 countries of the world. In addition, more than 180 manufacturers and suppliers support the Association's initiatives as key partners.

The primary goals of the GSMA are to ensure mobile phones and wireless services work globally and are easily accessible, enhancing their value to individual customers and national economies, while creating new business opportunities for operators and their suppliers. The Association's members serve more than two billion customers -- 82% of the world's mobile phone users.

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