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'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

Telenor Joins the Mobile Payment Service Consortium in Serbia

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  Telenor Joins the Mobile Payment Service Consortium in Serbia
London, Belgrade, October 30, 2007 - Mobile payments specialist Upaid today announced the addition of mobile operator Telenor to its consortium of banks and operators launched in October 2006 with Visa International and Serbian mobile operator Mobile Telekom Serbia (MT:S).

Serbia is the third in a series of markets to sign up to the mobile payment service, with operators in Jordan and Morocco already using Upaid's innovative payment platform.

From October, Telenor customers who register their Visa cards to the service will be able to recharge (top up) their mobile phones instantly with a simple SMS message. They can also use an SMS message to recharge (top-up) the prepaid phones of friends and family against the same card. Upaid anticipates increasing the portfolio of its services with the operators in the future.

All customers of the MPS consortium of banks in Serbia who have Visa payment cards and a Telenor mobile phone service can sign up to the enhanced service.

The MPS consortium is currently made up of 10 banks and two mobile operators, and like the operators they represent, the consortium includes a mix of local and international banks such as Continental, Komercijalna and Piraeus, as well as Austria's Raiffeisen, France's Société Générale, Greece's Alpha bank and Italy's Banca Intesa. Together they represent over 75% of the banked population and more banks have applied to join.

Together, these banks and operators are cooperating to bring a full mobile payments system to the country's 6.6 million phone users.

Telenor comments:

"We are very glad to join the Mobile Payment Service consortium and to offer this recharge payment option to our monthly subscribers. We are dedicated to providing the best possible services and technological advances for our customers to ensure our competitive advantage is maintained," said Branko Bajic, Product Manager Payment,
Marketing Acquisition

Terence Trench, Senior Vice President of Commercial Operations at Upaid said:

Since launching this service a year ago, we have seen great progress in the Serbian market, and have expanded to include 11 banks and growing. With the addition of a mobile operator such as Telenor, we are confident that we will reach the majority of Serbian mobile users and Visa card holders. This market is perfect for Upaid to roll out additional services in the future, such as utility payments."

There are currently 1.8 million Visa card holders in Serbia, with 2007 expected to see the 2 million mark breached, a large proportion of which will have access to the new Upaid service.

Serbia has 6.6 million mobile phone users, and a population of 7.6 million.   

About Telenor Serbia

Telenor Serbia, part of the Telenor Group, is Serbia's first mobile network, with more than 2.7 million subscribers.

The Telenor Group has proven itself to millions of customers around the world over a long period of time. After 150 years in the communications business and with 129 million customers in 12 countries around the world, Telenor knows a thing or two about what customers want and need from their mobile provider.

About Upaid

Upaid is the mobile payments specialist. The company enables payment providers, aggregators, merchants and banks to offer an alternative way for their customers to make payments. Applications range from the recharge of prepaid accounts via SMS, to electronic bill payment and presentment, to billing for mobile content. The Upaid platform supports a complete eco-system for mobile commerce, giving users the choice of an operator-driven or independent billing system. Upaid holds the franchise for VISA Mobile Service throughout Central and Eastern Europe as well as the MEA region.

Upaid has offices in the US, UK, France and Brazil. Upaid is a registered trademark of Upaid Systems, Ltd.

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