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Alternet Systems, Inc. (ALYI) Launches End to End Mobile Financial Services Initiative(February 22, 2012)
MIAMI, FL -- (Marketwire) -- 02/22/12 -- Alternet Systems, Inc. (OTCQB: ALYI) (PINKSHEETS: ALYI) today announced the creation of a new initiative to provide an end to end solution within the mobile payment ecosystem, which will provide a fast and efficient go to market suite of services including card management, payment processing and advanced mobile financial services that connect a mobile wallet to traditional payment tools. End users will enjoy an integrated experience, with social media and proximity payment capabilities.
The payment initiative builds upon the success of Alternet's mobile commerce subsidiary Utiba Americas, a joint venture with Singapore-based, leading mobile financial services solution provider, Utiba. Utiba Americas is Utiba's affiliate for the Americas region, and offers the leading Utiba end to end mobile financial service solution as a hosted service and as a traditional software license. Since its launch in the Americas region in 2010, the company has implemented mobile financial service solutions in Bolivia, Colombia, Ecuador and Guatemala, with further implementations under way in Venezuela, Honduras and Mexico. Utiba Americas and Utiba expect to be present in 14 countries in the Americas including the United States and Canada by the end of 2013, serving a potential market of over 600 million mobile and internet users and a population of over 900 million people.
Utiba recently announced a strategy to allow payments between traditional debit, prepaid and credit cards and mobile wallets, in an initiative they have named Converging Payments. Alternet intends to work closely with Utiba on card processing and program management service offerings to complement this strategy, to provide an end to end solution. The suite of services, expected to be commercially available by the end of the second quarter of 2012, will target financial institutions, program managers, consumer goods manufacturers, governments, traditional and online merchants, and social media networks.
"Utiba's success in mobile financial services and visionary approach to Converging Payments provides Alternet with an opportunity to expand in the explosive and rapidly evolving mobile payments market, which was recently projected to reach $998 billion in 2016," commented Henryk Dabrowski, CEO of Alternet Systems.
About Alternet Systems Inc.
Alternet Systems Inc. (OTCQB: ALYI) (PINKSHEETS: ALYI), a US corporation headquartered in Miami, Florida, is a leading enabler of Secure Mobile Commerce and Communications in the Americas and Caribbean. Alternet has regional presences in 17 countries throughout the region through a network of fulfillment partners and agents. Alternet's subsidiaries provide a comprehensive suite of hosted and Software as a Service (SaaS) applications for the Utility, Transportation, Financial, and Telecommunication, and Retail industries. Alternet subsidiaries include Utiba Americas, a joint venture with Utiba Pte Ltd., the leading provider of mobile payment and financial transaction software, and International Mobile Security (IMS) a provider of mobile communications security products and services.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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