Fast fact:
'The functionality and flexibility of the Upaid platform means that the service can expand in line with Visa CEMEA's strategic roadmap to enable a range of customer friendly solutions for remote payments.' - Hilary Mitchell, Visa, January 2004


Upaid Systems announces acquisition of Brazil's Flow & HMK Informática

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Acquisition establishes Upaid as a strategic leader in Latin American market

(PARIS/SÃO PAULO - 25 September 2001) - Upaid, the developers of the patented Upaid payment and settlement processing platform, announces the acquisition of São Paulo-based Flow & HMK Informática, a systems development and integration company with seven years' experience in providing software solutions and full-time support services to mobile communications operators and financial institutions in Latin America. Flow & HMK's clients include 15 of Brazil's 17 mobile communications operators and six of Latin America's largest banks.

Upaid Systems will integrate Flow & HMK's 'Gateway'—a solution enabling recharge of prepaid accounts directly from end users' bank accounts-into the company's payment and settlement processing software, to enhance and expand the applications of the Upaid platform.

Simon Joyce, Co-founder and Vice Chairman of Upaid Systems, stated: 'The acquisition of Flow & HMK is a strategic move that provides Upaid Systems with a port of entry into one of the hottest mobile communications markets in the world. Using Flow & HMK's reputation and strong client portfolio we will push ahead over the coming months to make Upaid the payment and settlement processing platform of choice across Latin America.'

Luiz Wolf, Cofounder and Managing Director of Flow & HMK, soon to be Upaid Brazil, commented: 'We are excited about providing our customers with software solutions that will expand their service portfolios and create new business opportunities. The Latin American market is swiftly embracing micropayments and m-commerce, and we are ready with software solutions to enable these services and many others, including a platform for prepaid roaming.'

About Flow & HMK Informática
Flow & HMK Informática is a leading systems development and integration company providing software solutions and 24-hour support across Brazil. Founded by Luiz Wolf and Hélio Katanosaka in 1994, the company has a strong team of more than 60 systems engineers and other professionals in facilities in Porto Alegre and São Paulo.

Flow & HMK's primary platform is a Gateway that enables recharge of prepaid accounts via the Internet, at ATM machines and over fixed or mobile telephones directly from end-users' bank account. In addition to the Gateway platform the company supports real-time, transaction-intensive systems in many of Latin America's largest banks.

About Upaid
Upaid is a leading-edge communications software pioneer providing state-of-the-art payment, transfer and settlement solutions for advanced roaming and financial transaction processing.

Upaid enables wireless communications carriers, mobile Internet operators and financial & application service providers to offer innovative solutions to end-users for preauthorized communications services such as prepaid voice and data, prepaid roaming, mail and messaging, m-commerce, m-banking, person-to-person cash transfer and micro-payments. Upaid's turn-key solutions are 2G/2.5G-based, engineered for 3G evolution and give mobile consumers more choice and better value for money.

Upaid™ is a trademark of Upaid Systems, Ltd.

For further information, please contact :

Nick Giles or Sam Routley
MS&L;/ for Upaid
+44 (0)20 7878 3151 / 3137

 
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