EPOSS TAKES MAJORITY STAKE IN CARDMAXX

Added : ( Tue Sep 16 2003 )

EPOSS TAKES MAJORITY STAKE IN CARDMAXX

London, September 16th , 2003 – Eposs Limited – the Western Union-owned UK market leader in electronic product delivery and payment solutions for the mobile top-up, entertainment and services market – today announced the purchase of a majority stake in Munich-based Cardmaxx AG, a leading provider of electronic voucher-based airtime top-up services in Germany.

Terms of the transaction were not disclosed.

The purchase will enable Eposs and Cardmaxx to exploit new opportunities in Germany for electronic pre-pay solutions for retailers – including e-voucher based retail sales of airtime top-ups, mobile entertainment content and other mobile services.

Cardmaxx already has direct relationships with key retail distribution and banking terminal partners in Germany. As part of the Eposs Group, Cardmaxx will be able to complement its airtime services by offering these partners a comprehensive range of electronic products - including ringtones, logos, mobile phone games, full-colour wallpapers, celebrity picture messaging and SMS alert services.

These electronic products will be sold in-store through stand-alone credit card acquiring terminals, as well as through advanced multimedia vending machines or integration with retailers’ existing point of sale systems.

Michael Norton, chief executive of Eposs, says: “Germany is now Europe’s biggest market for mobile telecoms and we believe it is ready for a rapid conversion to electronic prepaid airtime top-ups over the coming months. We are positioning the Eposs Group to take advantage of these significant market changes by combining Eposs’s experience in leading the UK development of electronic top-ups over the past three years with Cardmaxx’s retailer relationships and experience in the German market.”

Frank Naisar, chief executive of Cardmaxx AG, says: “Mobile top up and entertainment content, such as ringtones and logos, is a mega-business in Germany. Eposs’s experience in this market in the UK, USA, China and Singapore will help us to increase our share of this fast-growing market in Germany and the Benelux countries.”

He adds: “Eposs is now part of the First Data Corp. family of companies. First Data recently purchased Stuttgart-based TeleCash, one of our major banking terminal partners. This means that, with TeleCash, we will have the largest sales network for pre-paid electronic vouchers in Germany.”

ENDS.

About Eposs Limited

Based near Cambridge in England, Eposs Limited specialises in the management and delivery of innovative electronic products and the provision of electronic payment solutions.

Western Union Financial Services, Inc. purchased a majority stake in Eposs in August 2003. Western Union – a subsidiary of First Data Corp. (NYSE: FDC) – is a worldwide leader in money transfer and bill payment services with approximately 165,000 agent locations in 195 countries and territories. First Data serves more than three million merchant locations.

Eposs has an operational focus in the UK and a fast-growing presence in continental Europe and the Asia-Pacific region. The company’s strategic relationship with Western Union and First Data will further help Eposs to expand globally.

Other market-leading companies in the Eposs Group include Omega Logic Limited, which supplies integrated software systems that connect retailers to mobile network operators and other service providers, and Ringtones Online Limited, which provides business-to-business mobile applications and entertainment content, including mobile telephone ringtones and games.

Eposs’ electronic products are sold through retail outlets using a combination of advanced multimedia vending machines and integration with retailers’ own point of sale terminals. This offers product owners a new route to market, while providing retailers with an innovative product suite.

In the UK alone, more than £12 million has been invested in developing Eposs’ technology-driven infrastructure – offering retailers, content providers and other suppliers key benefits such as advanced functionality, reliability, ease of use and ease of integration.

The company’s strategic focus is on expanding its range of products, whilst broadening its distribution channels. It is also committed to developing further cutting-edge technology, extending its global network, and providing unrivalled customer support.

More information about Eposs can be found at: http://www.eposs.com


About Cardmaxx AG

Based in Munich, Germany, Cardmaxx AG specialises in the management and delivery of innovative electronic products, such as prepaid vouchers in the GSM market.

Cardmaxx AG was founded in May 2000 as a subsidary of Getmobile AG (www.getmobile.ag ), Germany’s leader in direct sales for contract-based products.

Cardmaxx has an operational focus in Germany which is the biggest prepaid market in Europe. The company’s strategic relationship with Eposs, Western Union and First Data will further help Cardmaxx to expand in Europe.

In July 2003, Cardmaxx was granted a European patent on the “Method for the electronic distribution of virtual mobile prepaid cards” and also holds a German Utility Model (“Gebrauchsmuster”) on this method.

Cardmaxx electronic products are sold through retail outlets using either Cardmaxx’s Internetshop (www.cardmaxxpro.de) or retailers’ own payment terminals. This offers product owners a new route to market, while providing retailers with an innovative product suite.


More information about Cardmaxx AG can be found at: http://www.cardmaxx.de


FOR FURTHER PRESS INFORMATION, PLEASE CONTACT:

For Eposs:

Brian Oliver, Focus Marketing Communications
Dir. Tel: +44 (0)20 8687 1622
E-mail: brian@focusmarketingcommunications.com


For Cardmaxx AG:

Textbörse GmbH
+49 (0)211 300654-0
info@textboerse.de


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