January 26, 2010 07:14 ET

ICYou and PayEx Initiate Collaboration

Skövde, Sweden--(Marketwire - Jan. 26, 2010) - We are pleased to introduce our new partner PayEx to ICYOU Mobile, who will be taking care of all payment transactions by creditcard and SMS.

Nicklas Molin, Sales Manager for PayEx Solutions says:

"We think that ICYou Mobile's concept is very interesting in several aspects. To create a virtual marketplace for mobile phones and other platforms is very innovative and something we want to be a part of. We look forward to a long lasting partnership spanning into the future."

Lars Erik Ottenvall, CEO of ICYou Group says:

"We are glad to have found a stable partner which will help us with the most modern payment methods for the concept we are creating. We feel great comfort in having a company like PayEx with us as a partner."

About PayEx Group:

PayEx are the foremost experts in payment facilities within the Nordic region and employs over six hundred staff. The business has a highly motivated workforce, with both an inquisitive and innovative culture. Since 1972, the business has developed a vast knowledge of expertise within the payment services industry for the internet and mobile trading, rating, billing, invoice and ledger management, as well as collections and credit management.

Through PayEx ICYOU Mobile has also been recommended to PayPal, where we have the opportunity to start a co-operation agreement with an international partner for our global expansion plans. This will be an easy way for customers to pay without disclosing credit card or bank account details and an easy way to get paid by customers worldwide.

About PayPal:

PayPal is an e-commerce company that offers services for payments and money transfers over the Internet. PayPal acts as an electronic alternative to traditional payment methods such as cheques, invoices and cash. The company was founded in the United States in 1998 and launched its UK services in October 2003. Since 2002 PayPal has been owned by auction site eBay and most of its activity is the brokering of settlements between buyers and sellers on eBay.

About ICYou AB:

ICYou AB, based in Skövde, Sweden, was founded during the summer of 2007 by entrepreneur Fredrik Nilsson. The business idea is to create a global media and marketing arena. This arena answers to the growing need for individuals to meet and socialise in so-called "virtual communities"; coupled with the global business requirement to effectively source new and novel marketing channels, in order to reach this new and fast-growing market segment. ICYou's virtual world and Interactive City is based upon advanced computer-gaming technology. Through its unique interactivity and high-grade graphics technology, ICYou will offer individuals and businesses the opportunity to build trademarks, advertise and sell products and offer a vast range of services, in a way that has never been done before!

Interactive City will mirror reality in a multitude of areas such as citizens and socialising, rules and laws, communications media, educational institutions, entertainment industry, business creation and the free market economy.

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