SOURCE: Serebra Learning Corporation

October 17, 2007 09:30 ET

Serebra Launches Prepaid Mastercard® Cardglobal Payment Solution for Serebra Connect™

VANCOUVER, BC--(Marketwire - October 17, 2007) - Serebra Learning Corporation (TSX-V: SLC), a leading e-learning provider, today announced it will launch a reloadable prepaid MasterCard® card-based global payment solution for Serebra Connect (www.serebraconnect.com) in partnership with Payoneer, an innovative payout solutions company. Serebra is the first major e-learning provider to offer to pay its service providers with prepaid MasterCard cards -- an option that provides great flexibility and access to payments worldwide.

Serebra Connect links accredited service providers with businesses that want to outsource small tasks. This partnership with Payoneer will allow Serebra Connect to offer to send service providers a prepaid MasterCard card that Serebra reloads regularly with the payment for their tasks. Using the card, service providers can withdraw cash from ATMs worldwide and make purchases at any store or online site where Debit MasterCard is accepted. Funds are available either in US dollars or converted using a MasterCard-based exchange rate, normally more favorable than those offered by banks.

Payoneer's proven platform is a fast, safe and economical way that companies pay their people worldwide. If a card is ever lost or stolen, Payoneer will cancel the card and transfer the remaining balance to a new replacement card. An online site allows service providers to check their card balances and account activity easily at any time.

Serebra's chairman and CEO Ted Moorhouse said, "It is very important that Serebra Connect gives its service providers worldwide easy access to their earnings. Through Payoneer, our users will be able to access their money through ATMs around the world and enable them to make purchases wherever Debit MasterCard is accepted."

Moorhouse continued, "This partnership with Payoneer allows Serebra Connect to offer users a secure, convenient and affordable online settlement solution, enabling them to receive payment on a globally accepted MasterCard card."

"In addition to being a registered MasterCard Service Provider, Payoneer has extensive financial and technology industry expertise with tens of thousands of its cards in use already -- making them an excellent partner for Serebra."

SEREBRA LEARNING CORPORATION

Ted Moorhouse
Chairman and CEO

About Serebra Learning Corporation

Serebra Learning Corporation has a 20-year track record using the latest technology to deliver innovative personal and professional development courses to individuals and companies worldwide. Through EasyLearning (www.easylearning.org), Serebra allows people in developing nations to gain valuable skills and qualifications. Through Serebra Connect (www.serebraconnect.com), Serebra provides EasyLearning students, and other qualified individuals, with access to jobs. For more information about Serebra, visit www.serebra.com or call 1 800 567-7766.

About Payoneer Inc.

Founded in 2005, Payoneer Inc. provides hosted payout solutions for companies that pay people worldwide using prepaid MasterCard® cards, wire transfers, and e-checks. The company targets affiliate networks, video sites, Internet payment service processors (IPSPs), and any other company that pays out to people on the Internet. Payoneer has tens of thousands of Payoneer cards in circulation. The company is a registered MSP of First Bank of Delaware with MasterCard, an approved partner of Royal Bank of Scotland, with its RBSLynk solution, and a partner to i2cinc.com. Based in New York, Payoneer is privately held with funding from Greylock Partners and Crossbar Capital. For more information, please visit www.payoneer.com.

MasterCard® is a registered trademark of MasterCard International Incorporated. Payoneer is a trademark of Payoneer, Inc. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:

    Ted Moorhouse
    Chairman & CEO
    Serebra Learning Corporation
    Telephone: 604-676-5480
    Facsimile: 604-676-5490
    Toll Free: 1-800-567-7766
    Email: Email Contact

    Serebra Learning Corporation
    Suite 600 - 1188 West Georgia Street
    Vancouver, BC
    Canada, V6E 4A2
    T 604 676.5480
    F 604 676.5490
    Toll Free 1 800 567 7766
    www.serebra.com