SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

February 03, 2011 09:00 ET

Alternet Systems, Inc. (ALYI) Mobile Commerce Partner Wins Best Technology Award

Mobile Money Africa Recognizes Utiba as Best Mobile Money Technology Provider

MIAMI, FL--(Marketwire - February 3, 2011) - Alternet Systems, Inc. (OTCBB: ALYI), a leading enabler of secure mobile commerce and payment transactions, announced today that its mobile commerce partner, Utiba Pte, was recognized as the "Best Technology Provider" at the Mobile Remittance, West Africa conference held in Lagos, Nigeria the 24th & 25th of January, 2011. The conference was hosted by Mobile Money Africa, a leading online resource for mobile financial inclusion, and was attended by leading mobile network operators, banks and finance experts from the region. The conference discussed how changes in technology, regulation and existing infrastructure have vastly increased the reach of mobile remittance services in Africa.

Mobile Money Africa is one of the leading online providers of news and analysis for the global telecom industry. Its inaugural mobile money award for Africa was established to recognize outstanding achievement in the telecom industry during the past decade. 

Alternet Systems CEO Henryk Dabrowski commented on the award to say, "We are extremely pleased that others continue to recognize what we have long known, that Utiba has the most robust, most scalable, and most complete Mobile Financial Services platform in the market. Since its inception in 2011, Utiba has been committed to innovation, and through the deployment of its technology in more than 15 countries Utiba has played a transformative role in the lives of millions of people in emerging markets. Alternet is proud to be Utiba's partner through our mobile commerce subsidiary, Utiba Americas."

The market for mobile financial transactions is fueled by the explosive growth of mobile services worldwide. In 2010 the number of global cellular subscribers passed the 5 billion mark, making the cellular phone the lowest common technology denominator and an inexpensive platform for delivering financial services to so called "bottom of the pyramid." International remittances, a $400 billion industry according to World Bank estimates for 2008, are a perfect example of a financial service well suited for delivery using the mobile platform. The mobile network offers money transfer operators expanded reach and a lower cost structure over traditional brick and mortar retail agencies.

About Utiba Pte. Ltd

Since its incorporation in 2001, Utiba has focused exclusively on the development of the most scalable, flexible and modular, mobile financial transaction platform in the market, Utiba Mobility. The Utiba Platform enables mobile phone based transactions including electronic airtime distribution, retail mobile banking, domestic & international remittance, government benefit distribution, and utility payments, among others. Utiba's clients include Mobile Network Operators (MNOs), Banks, and Payment Service Providers (PSPs) which have created highly successful solutions tailored to the microfinance and rural banking industries. Utiba's platform has been successfully deployed in more than 15 countries, serving more than 20 customers. The Utiba Mobility platform currently supports more than 400 million subscribers and approximately 30% of the mobile commerce data traffic worldwide.

About UTIBA Americas
Utiba Americas is an affiliate of Utiba Pte, a pioneer and global leader in mobile financial transaction systems. Utiba Americas offers the powerful Utiba Mobility Mobile Commerce Platform as a traditional software license or as a Software as a Service (SaaS). With the hosted service, Utiba Americas provides its customers access to the most robust and flexible mobile commerce platform without the upfront costs of acquiring licenses and hardware, and the on-going expense of personnel to administer and monitor the platform.

About Alternet Systems Inc.

Alternet Systems Inc. (OTCBB: ALYI), a US corporation headquartered in Miami, Florida, is a leading enabler of Secure Mobile Commerce and Communications in the Americas and Caribbean. Alternet has regional presences in 17 countries throughout the region through a network of fulfillment partners and agents. Alternet's subsidiaries provide a comprehensive suite of hosted and Software as a Service (SaaS) applications for the Utility, Transportation, Financial, and Telecommunication, and Retail industries. Alternet subsidiaries include Utiba Americas, a joint venture with Utiba Pte Ltd., the leading provider of mobile payment and financial transaction software, and International Mobile Security (IMS) a newly formed provider of mobile communications security products and services.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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