MXCP.L Regulatory News (MXCP)

19 Jul 2006 10:46

2 ergo Group plc19 July 2006 Amended version, please disregard previous release distributed at 7:00am. For immediate release 19 July 2006 2ergo Group plc ("2ergo" or "the Group") 2ergo first to launch Payforit 2ergo Group, the AIM listed provider of convergent mobile communicationsolutions, is the first fully Accredited Payment Intermediary to establishbilling connections with multiple mobile networks for the provision of Payforit,thereby becoming the first to launch this new mobile payment scheme to themarket. The Payforit scheme was determined by a strategic UK cross-mobile networkoperator initiative to promote a safe and trustworthy environment under whichmobile phone users may purchase goods and services from the mobile Internet andcharge to their mobile phone. The scheme aims to improve the consumer experience for one-time and subscriptionservices purchased via the mobile Internet. It protects consumers by introducinga safe, secure and unified approach to mobile purchases, whereby billingrequests are no longer handled by mobile service providers, but instead by atrusted party, known as an Accredited Payment Intermediary. In line with its brand, 2ergo has launched this new service offering under thename 2Payforit. Testament to the Group's technical expertise and thefeature-rich capabilities of the Multiserve Platform, 2ergo is the first mobilecommunications provider, from a select number of Accredited PaymentIntermediaries, to launch this service. Clearly 2ergo is well positioned tobenefit, having already established the Payforit billing connections withVodafone, T-Mobile and Virgin. Live connections are planned with Orange by midAugust. In addition to offering this service to mobile service providers, 2ergo willalso be targeting other industry players who lack the technical expertise andfunding to build carrier grade billing applications. Equally, providers whofailed to satisfy the strict qualification criteria to achieve accreditation. Barry Sharples, joint CEO of 2ergo, commented, "This initiative emphasises theUK mobile industry's motivation and desire to guard against consumer harm, andit is a conscious move towards greater self-regulation. Through improvedconsumer confidence, 2Payforit will help to create new growth opportunitiesthroughout the UK mobile industry value chain." "This is a very exciting time at 2ergo, in the next few weeks we plan to launchour unique and patented 2safeguard technology, which will provide the mobileindustry with a new and secure protocol. This will not only open up further newmarket opportunities for 2ergo, but will help us to further differentiate2Payforit." "2ergo's involvement at this early stage means the Group will also be proactivein shaping the future of mobile payment services. We believe that our positionas an accredited partner of some of the leading mobile operators indicates thehigh regard the Group now commands within the mobile communications industry." -ends- For further information, please contact: 2ergo Group 01706 221 777Barry Sharples, Joint CEONeale Graham, Joint CEO Tavistock Communications 020 7920 3150Christian Taylor-WilkinsonSimon Compton Notes to editors: About 2ergo Group plc 2ergo is a global provider of interactive and convergent communicationssolutions using mobile technologies, fixed-line telecommunications and theInternet. It delivers solutions and services across many sectors of industry,with clients that range from SMEs to multi-national enterprises, to publicsector organisations. The Group's expertise enables organisations to advance their use of technology,to switch on new revenues, optimise business processes and open up new marketingchannels. Headquartered in Lancashire, United Kingdom, the Group is listed on AIM, amarket of the London stock exchange (AIM: RGO). This information is provided by RNS The company news service from the London Stock Exchange