SOURCE: Elephant Talk Communications

Elephant Talk Communications

April 12, 2011 04:00 ET

ValidSoft's Fraud Solutions Are Highlighted by WallStreetCorner.com

Publisher Cites Company's Presentation at Janney Capital Markets Event

SCHIPHOL, THE NETHERLANDS--(Marketwire - Apr 12, 2011) - Elephant Talk Communications, Inc. (OTCBB: ETAK) (http://www.elephanttalk.com/), an international provider of business software to the telecommunications and the financial services industry, announced that the company's wholly owned ValidSoft subsidiary (www.validsoft.com) was highlighted recently in a report by Larry Oakley, publisher of WallStreetCorner.com, a New York-based financial news report. The report is available at http://www.wallstreetcorner.com/new_lop.html.

Oakley reported that John Petersen, ValidSoft's global head of business development, recently presented ValidSoft's advanced, comprehensive fraud solutions technology at a "deep-dive" event on the topic of "Payment Card Fraud" hosted by Janney Capital Markets. Petersen was joined by Steven van der Velden, Chairman and CEO of Elephant Talk, who outlined the strategic impact of telecommunications on the emerging mobile payments market.

Oakley noted that Elephant Talk and ValidSoft's strategic solution for mobile payment applications can work in the cloud, especially in connection with Near Field Communication (NFC). There is a growing market for stronger card security due to new forms of privacy attacks, including "spear phishing" aimed at consumers' email accounts, he added.

Oakley pointed out that ValidSoft can help eliminate credit card and bank card fraud. He also noted that it is anticipated that as mobile phones are adopted by large populations, including "unbanked" communities that will rely on such devices for the transfer and receipt of funds, the mobile/smart phone will rapidly become the dominant form of electronic payment. In the context of the convergence of electronic payments towards NFC and the mobile/smart phone, ValidSoft's VALid-POS® technology remains at the forefront of security solutions for single payment devices, Oakley added.

ValidSoft aims to secure all transaction channels through the use of telecommunications-based technology, Oakley said. The company offers a range of products that are strong, effective, not seen by the consumer, and comparatively inexpensive, he added.

Oakley also noted that a major card issuer has entered into a contractual arrangement with ValidSoft for the provision of its fraud-prevention solutions, VALid-POS®, and VALid®, ValidSoft's multi-factor authentication platform. The agreement will allow the card issuer to integrate and market the solutions as services to its member banks as part of its processing platform. Those member banks handle about 28 billion transactions a year, and they experience costs of about $2 billion a year due to fraud, ValidSoft has noted.

About ValidSoft

ValidSoft Limited, headquartered out of Tullamore, Ireland, is a wholly owned subsidiary of Elephant Talk Communications, Inc. (OTCBB: ETAK), and is a market leader in providing solutions to counter electronic fraud relating to cards, the internet, and telephone channels. ValidSoft's solutions are telecommunications based and are at the cutting edge of the market, utilising their access to the most sophisticated global telecommunications networks and expertise. The solutions are used to combat card-present and card-not-present fraud as well as electronic fraud on all channels, including the most advanced fraudulent attacks such as Man-in-the-Browser. The solutions are designed for mass markets, in a highly cost effective and secure manner, yet are easy to use, intuitive and leverage the most ubiquitous devices available. For more information please visit www.validsoft.com. ValidSoft is the first, and only Security Software company in the world to be certified to EuroPriSe standards.

About Elephant Talk Communications

Elephant Talk Communications, Inc. (OTCBB: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multicountry discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information visit: www.elephanttalk.com.

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