News from the Wire

AcCells delivers contactless mobile payment technology

Monday, May 04, 2009 — 11:58:26 (EDT)

Johannesburg, South Africa, May 4, 2009 -- AcCells, a developer of contactless technology for the mobile payment industry, first introduced the mID at the GSMA Mobile Congress in February, 2009. This first demonstration of a working prototype is a very important milestone, bringing AcCells closer to launching its technology which will take the mobile commerce market forward in quantum leaps. The unveiling of the mID technology at the MMT Africa Conference and Expo will give those present the first glimpse of the mID’s unparalleled capabilities.

“We are very excited to share our development with the mobile commerce industry. Since the very beginning of this industry, many solutions have been introduced for both commercial and personal identification purposes,” said Eduardo Shoval, AcCells’ CEO. “The mobile commerce market is ready for a breakthrough solution that will help it to reach its expected goals and projections. Now, with AcCells’ solution, the market finally has a technology that will enable this market to meet all of its needs.”

AcCells' mobile identification device (mID) is capable of identifying any mobile handset and, when connected with mobile network operator’s server, allows users to make mobile payments directly and securely from their handset. The mID will use the existing network, server, and database to identify and authorize the user before any payment or transaction is complete. Once connected to the cellular network, the system uses the network’s high- security identification and authentication processes. The overall mobile payment process using the mID is fast, simple, and very secure.

The mID solution applies to every mobile phone on the market and does not require the user be proficient with any specific mobile service (SMS, WAP etc.). The mID’s diverse range of capabilities is certain to play a major role in the establishment of innovative applications for the mobile payment market.

About AcCells

AcCells was launched by seasoned and prominent technologists to commercialize a breakthrough innovation that lays the foundation for a new paradigm in mobile payments. Our vision is to create an infrastructure which will stimulate the growth of mobile payment applications worldwide.

AcCells’ revolutionary mobile identification device allows the industry to achieve fast, simple, and secure mobile payments and transactions for all mobile phone owners without upgrading the existing installed base or limiting the market to credit card holders. AcCells will pave the way for industry growth by sidestepping the enormous cost of upgrading while expanding the potential end user market.

For additional information about the company, please email maayanz@accells.com or visit our website at www.accells.com .

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Source: Company press release.