Telepin Software Corporation

Telepin Software Corporation

July 12, 2010 09:01 ET

Network International Selects Telepin Software for Mobile Service Offerings

United Arab Emirates' leading acquirer to use Cayman Transaction Platform to deliver mobile recharge services via nationwide POS network

DUBAI, UNITED ARAB EMIRATES--(Marketwire - July 12, 2010) - Telepin Software, a leading provider of mobile money transaction platforms, today announced that it has been selected by Network International to drive the organization's services for mobile network operators. Network International is the largest Merchant acquirer in United Arab Emirates (UAE), with a network of more than 35,000 Point-of-Sale (POS) terminals. Network International will use Telepin's Cayman Transaction Platform to extend the reach of its current products into the mobile recharge market.

The majority of mobile phone subscribers in UAE are prepaid, with most accounts representing a large population of the workforce. The mobile market in the UAE has more room to accommodate related services. As a result, consumers who wish to recharge can visit a Network merchant and complete the transaction within seconds for the pre-defined amount they wish to top-up.

Network International will use Cayman Transaction software to enable its network of POS terminals to provide recharge services to all consumers. Network International is working closely with the mobile operators to extend its financial network capabilities and offer solutions to emerging mobile industry needs.

"The present technology allows us to offer many more services than currently available; hence we are working closely with market and innovation leaders to provide these services to our clients. With Telepin's Cayman Transaction Platform we will introduce additional services that will expand the range of our current products in the telecommunications sector, giving retailers and end-users more flexibility and convenience," said Mr. Abdulla Qassem, Chairman, Network International.

Telepin's eVoucher provides an integrated capability to create and manage electronic vouchers to be used against any service. eVoucher is the most flexible mechanism to keep subscribers active on the network; generating revenue for operators and integrating in with several systems, such as Point-Of-Sale, Kiosk, ATM, and IVR platforms. This technology will help the merchants control their inventory and effectively manage their distribution systems.

"We at Network International are committed to providing our customers with innovative, differentiated services to meet their specific needs. Telepin's Cayman Transaction Platform will help us provide mobile network operators in the UAE with the infrastructure required to maximize the market opportunity. This will in turn allow subscribers to transact faster and go about their business more efficiently, particularly irrespective of location" said Mr. Ram Chari, CEO, Network International.

Retailers are looking for solutions that offer the best experience for their customers at all interaction points. Network International and Telepin are working together to meet these needs with a flexible, modular solution that is built on open systems, fast to implement, scalable, and simple to manage in the long term.

"We are pleased to provide Network International with the capability to transform its business to provide mobile service offerings to the financial industry," said Vincent Kadar, CEO of Telepin Software. "This is a win-win scenario as Network International merchants are now able to generate additional revenue through the services of Network International, and all mobile subscribers will be serviced by the most expansive POS network in UAE. We look forward to a long-term, strategic partnership with Network International and their affiliate groups, as we support further mobile service offerings for the financial community."

About Network International:

Established in 1994, Network International LLC is the largest acquirer and one of the leading payment solutions providers in Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers. It is a Principal Member of Visa International and MasterCard International for the UAE offering customers the most comprehensive range of payment products and services in the Gulf and MENA region for both the Issuing and Acquiring segment of the card payment industry. Offerings include credit and debit card processing services, ATM management and monitoring, merchant acquiring plus consumer finance applications. Network International provides consultancy services ranging from planning and designing, to developing of new card and consumer finance products and services.

Network International is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is UAE's largest payment acquirer for Credit & Debit Cards and the largest third-party processing vendor which is capable of providing banks, the retail industry and financial institutions with complete EMV certified solutions as they migrate to EMV Smart Card technology.

About Telepin Software

Telepin Software is a leading provider of mobile transaction platforms, providing mobile operators the most efficient and cost-effective way to control their distribution network, maximize revenues from mobile financial services, and deliver innovative mobile financial applications. Telepin's Cayman Transaction Platform enables a full suite of electronic, transaction-based applications for mobile subscribers to recharge their mobile airtime without the use of physical cards or vouchers, facilitate P2P money transfers, allow for electronic bill payments, and more, using multiple channel interfaces. Telepin's customer base includes tier-one operators in the Middle East, Africa, and the Americas. Telepin is completely self-funded, and has recently been recognized as OCRI's Startup of the Year, a Deloitte Fast 50 Company to Watch, Ottawa Business Journal's Fastest Growing Company for 2009, and a Red Herring Global 100. For more information, visit: www.telepin.com or www.mobilemoneytransactions.com.

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