News from the Wire

UAE Exchange, ElectraCard launch gocash

Friday, December 21, 2012 — 12:53:00 (EST)

Pune, India, Dec. 21, 2012 -- ElectraCard Services (ECS), a leading provider of software solutions for electronic payment systems has partnered with UAE Exchange – the leading global remittance and foreign exchange brand, for the launch of gocash – Middle East’s first multi-currency prepaid travel card.

ECS is the technology and processing service partner for UAE Exchange, a brand trusted by millions of customers and partners across the globe. With the launch of this new MasterCard powered prepaid card, the remittance major reaffirms its position as an undisputed market leader in the Foreign Exchange realm. This ‘gocash’ card empowers travellers with an option to load up to six currencies from a choice of fifteen.

‘gocash’ is a smart, multi-currency prepaid card, which enables the cardholders to use the appropriate currency loaded on the card – based on the country being visited or the priority pre-set by the user. The unique exchange rate lock facility, world-wide acceptance and the chip & PIN security makes gocash a class-apart travel card. Other customer-centric features include easy re-loading from any of the widely networked UAE Exchange branches in the UAE, accessibility to use across 34.3 million merchant locations and 1.5 million ATMs, worldwide and 24×7 customer care assistance.

Mr. Ramesh Mengawade, CEO, ElectraCard Services said, “This card is designed to meet the needs of travellers. It addresses all the major financial issues a traveller faces, while travelling to another country. As partners, we have delivered a technology which will assist a well designed product to meet the present and future needs of the customers.” “We have kick-started a revolution in world travel!” said Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange “Innovation and product diversification are at the core of our growth strategy. gocash is a testimony to our continuing spirit of providing customers with empowering solutions. UAE Exchange has always been at the forefront in offering innovative and diversified product range. We are confident to position gocash as a revolutionary product, which we have launched with technological assistance from Electra Card Services” Mr. Sudhir Shetty said. About UAE Exchange

UAE Exchange is a leading global remittance and foreign exchange brand, with direct operations spanning 30 countries with more than 650 branches, which makes it the largest globally networked remittance brand in the world. Correspondent relationship with more than 150 global banks adds to its might. Additionally its associations with many leading brands globally bring several value-added products and services to over 4 million customers, worldwide. In the UAE, the brand has a leading presence with a network of 122 branches, out of which 14 are in the Dubai Metro network. UAE Exchange is the first remittance brand in the UAE to have a presence in the metro stations. Acclaimed as the ‘World’s Trusted Money Transferrer’, UAE Exchange has completed over 32 yearsof successful business operations.

For more information, log on to www.uaeexchange.com or www.gocashcards.com . About ElectraCard Services

ElectraCard Services, a subsidiary of Opus Software Solutions, provides software and third party processing services for cards and payments management industry across the world. ECS is a PCI DSS certified Third Party Processor (TPP) for MasterCard® and VISA® across the issuing and acquiring spectrum of the electronic payments business. Its deep domain knowledge, extensive global experience and cost effective solutions address the speed to market and flexibility challenges of today’s market.

ElectraCard Services enables financial institutions, retailers, finance companies and corporations to electronically process, in real-time, any type of payment transaction, including credit, debit, pre-paid, and ACH. In addition to typical back office processing, ECS also offers ecommerce gateway and switching solutions. Its solutions support multiple institutions, multiple currencies, and varying processing requirements on a single platform. By providing comprehensive and flexible solutions that can be deployed to a market of one, ElectraCard Services offers unmatched services and solutions.

www.electracard.com .

www.opussoft.com .

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Source: Company press release.