SOURCE: RTG Ventures, Inc.

December 07, 2010 11:10 ET

RTG Ventures, Inc.'s New Commercial Director for iPayu Outlines Strategy

NEW YORK, NY--(Marketwire - December 7, 2010) - RTG Ventures, Inc. (OTCBB: RTGV) has appointed Jasper Dalgliesh, a senior executive with experience in both corporate and entrepreneurial mobile and telecommunications sectors, to the position of Consultant, Commercial Director for its Payment Systems Division. Prior to joining RTG Ventures, Dalgliesh's global role with Vodafone, AT&T, Global Crossing and T-Mobile was to leverage technology for commercial advantage to increase revenues and market share. He has also served as a commissioned officer in the British Army with the Life Guards and as a helicopter pilot in the Army Air Corps. Dalgliesh holds an MBA from Cranfield University.

As Commercial Director, Payment Systems Division, Dalgliesh assumes responsibility for launching iPayu, RTG Ventures' first product in its roll-out of disruptive technologies. iPayu is a mobile payment system built on a robust and proven banking software suite that offers revolutionary methods of making, taking and distributing payments. iPayu has numerous commercial applications for both front and back end payments where low transaction costs, 100% security and real-time transparency are mission critical.

Outlining the Payment Systems Division's strategy, Dalgliesh said: "Our development strategy is designed to maximize return on investment from the technology as we scale towards becoming a fully operating e-money provider. We're packaging iPayu into market specific applications that need to meet two criteria: they must address a real need right now and they must bring blocks of end-users into the system.

"Our first application is targeted at e-commerce sites with large numbers of affiliates and the test bed for this application is one of our own companies, Audigist.com, which sells downloadable MP3 tracks on behalf of independent artists. The compelling need is making multi-currency account management and artist royalty settlement more efficient as music is sold. Audigist brings 800 artist accounts to iPayu and the site is growing all the time.

"Right now, artists earn a percentage of the sale price which they are able to request by UK bankers check on a quarterly basis. But, writing out bankers checks for so many artists is costly, hugely inefficient and not artist-friendly as 60 per cent of the artists on Audigist.com are based outside the UK. They have to pay huge fees to cash those checks. With iPayu plugged in, each artist will be set up with an iPayu account, so we get 800 new users into iPayu and the artists will see their royalties appear in their iPayu accounts in real time. They will be able to withdraw their funds on demand, direct to their bank, and there will be no need for Audigist.com to operate manual payment runs, saving significant amounts of both time and money. In addition, Audigist.com will be the only company of its type offering real-time redemption giving it a huge competitive advantage when it comes to signing up new artists."

RTG Ventures estimates that there are 1,000 other relevant download sites of a similar nature that could also benefit from integrating iPayu technology and Dalgliesh also cites any ecommerce company operating its own affiliate scheme as an ideal target customer for this first application. iPayu's revenue model with this application is based on a monthly subscription and a per transaction charge to the business customer. 

Dominic Hawes-Fairley, RTG Ventures' Chief Executive Officer & President, added: "Jasper is already focused on revenue generation in the short term, while identifying development milestones going forward. This appointment completes the company's senior operating team and growth, growth, growth is the watchword for all."

ABOUT RTG VENTURES, INC.

RTG Ventures, Inc. is a NASDAQ BB listed company (OTCBB: RTGV) offering a turnkey media monetization solution to rights owners of music video content. At the heart of RTGV's total product offering is a Monetization Platform which allows rights owners to define and tag media content in detail, set and enforce rights management and distribution rules, receive payment on distribution and obtain detailed analytics in real time.

RTG Ventures is organized as three divisions: Media Systems, Payment Systems and Software and Services, each of which contains both wholly-owned companies and joint ventures with independent business plans, strategies and management. In addition to servicing their discrete markets, these companies all contribute to RTG Ventures' total product offering for media rights owners. For further information, see http://www.rtgventures.com.

SAFE HARBOR PROVISIONS

The foregoing contains certain predictive statements that relate to future events or future business and financial performance. Such statements can only be predictions, and the actual events or results may differ from those discussed due to, among other things, those risks described in RTGV's reports filed with the SEC. Opinions expressed herein are subject to change without notice. This document is published solely for information purposes, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any state. Past performance does not guarantee future performance. Additional information is available upon request.