August 6, 2007
MobiClear, Inc. (OTCBB: MBIR - Deutsche Borse: B3CA) and Bastion Payment Systems Corporation have entered into a partnership agreement to market and launch MobiClear’s exciting line of security products in the Philippines and Asia, paying particular attention to the e-commerce sector.
Bastion and MobiClear have begun introducing the solutions to many of the market-leading financial institutions in the Philippines and other Asian countries. The banks have expressed great interest in the product’s ease of implementation, cost effectiveness, and ability to be brought to market in a timely fashion.
MobiClear and Bastion Payment Systems both agree this partnership is a great step toward increasing the confidence of Asia-based clients engaging in online e-commerce transactions.
Commenting on the alliance, Bastion Payment Systems CEO Wilfred Tan said, “We are happy to be working with MobiClear in launching an innovative, unique and secure identification system for online banking and e-commerce transactions. The market is poised for the additional powerful transaction security measure that MobiClear has developed. Further, we feel MobiClear’s product offering will nicely complement Bastion’s existing and future fraud management products and initiatives.”
Anders Ericsson, CEO of MobiClear, noted, “It is such a great opportunity to be working with an established and highly reputable company like Bastion. We believe their network of banking relationships in the Philippines and Asia, as well as a successful portfolio of payment systems projects, provides MobiClear with an ideal platform for launching our products in that region.”
About Bastion Payment Systems Corporation
Bastion Payment Systems Corporation provides cutting edge, state of the art software tools and services for fraud management, credit card acquiring and issuing systems, and performs other related services and support, including secure IDC (Internet Data Center) services.
As a PCI-certified third party processor and solutions provider, their value lies in the ability to develop, operate, and supply effective software systems and give superior customer service to its clients. They are currently pursuing ISO-27000 certification to further demonstrate their commitment to securing its customer transactions.
The primary markets served are ISOs, IPSPs, and other institutions worldwide which require Bastion’s specific brand of expertise and services. The company partners with other top tier vendors and suppliers to make sure its systems are continuously evolving to meet the changing needs of Baston’s client-base and the market.
Bastion’s personal service is what differentiates the company from the competition. Pride is taken in their ability provide clients 24/7 technical support, 365 days a year to ensure their business is as reliable as humanly possible.
About MobiClear, Inc.
MobiClear, Ltd. specializes in electronic Personal Identification Verification (PIV) solutions in connection with credit/debit card transactions. MobiClear's multi-gateway solution (U.S. patent pending) offers proactive security in all forms of electronic business environments including Internet shopping, business-to-business procurement transactions and retail shopping with credit and debit cards. MobiClear estimates that credit and debit card fraud on the Internet and in brick and mortar stores is growing to $20 billion annually. MobiClear's answer to this problem is a secure and user-friendly identity solution that works across the globe. In addition, MobiClear's identification service ensures safe and secure trade over the Internet, which in turn, promotes both e-trade activity and invoice payments online.
Forward looking statements
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.
The Investor Relations Group
Investor Relations
Joseph Kessler, 212-825-3210
or
Media
Mike Graff, 212-825-3210
Source: Business Wire (August 6, 2007 - 7:31 AM EST)
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