Schiphol, the Netherlands, September 4 2012: Elephant Talk Communications Corp. (NYSE MKT: ETAK) (formerly NYSE Amex: ETAK) (www.elephanttalk.com), an international provider of business software and services to the telecommunications and financial services industries, is pleased to announce that Utiba, a leading provider of mobile financial service solutions, is expanding the geographical reach of its Software as a Service (SaaS) offering, bringing with it the potential for broader deployment of Elephant Talk’s suite of products.
Utiba stated in a recent press release that it had launched its newest suite of innovations under the company’s umbrella strategy of Converging Payments, designed to extend the reach and acceptance of mobile wallets through global strategic partnerships with players such as MasterCard and ValidSoft, Elephant Talk's wholly owned subsidiary. Utiba’s partnership with ValidSoft is one of the major partnerships designed to extend the reach and acceptance of mobile wallets – see link: http://www.utibaamericas.us/archives/830
. Utiba's expansion plans will provide ValidSoft exposure to users and mobile money transactions in South America and Asia Pacific.
In April, Utiba selected ValidSoft’s SMART™ technology (Secure Mobile Architecture for Real-time Transactions) to enable its mobile banking customers to offer advanced, user-friendly authentication options for mobile payments and mobile financial services. The Utiba technology incorporates ValidSoft’s multi-factor, multi-layer authentication approach and is designed to provide strong authentication across any network and on any phone, including smart-phones on a 4G network.
Pat Carroll, CEO and founder of ValidSoft, said, "As Utiba expands its global presence, it’s clear that the advanced functionality, flexibility and interoperability of the ValidSoft products are the solutions of choice for the mobile payment world and, in particular, Utiba’s suite of innovations. ValidSoft’s SMART™ solution will enable consumer confidence across all locations in which Utiba is looking to expand and will help extend the reach and acceptance of mobile wallets globally. We expect that an expansion of our relationship with Utiba will increase our higher margin security software solutions revenue throughout 2013."
ValidSoft is an advanced software security company with tailor-made fraud detection/prevention solutions designed specifically for Online, Cards and the new contactless/Mobile payments landscape. Unique in its capabilities, ValidSoft brings together security and telecommunications, which enables powerful security models custom designed for cards and the mobile world (payments, social, gaming). The indigenous security architecture is multi-factor, multi-layer, with a heavy emphasis on profiling, invisible authentication and context awareness – ValidSoft is the only security company in the world with 2 European Privacy Seals (EuroPriSe). The entire emphasis is simplicity and ease-of-use for the end-user, which keeps all the complexity hidden. ValidSoft meets all the needs of the market today in terms of transaction based deployment (Cloud/SaaS), or in-house deployment, and enables complete individual transaction risk discrimination & handling from a security perspective.
About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE MKT: ETAK) (formerly NYSE Amex: ETAK), (www.elephanttalk.com
) is an international provider of software and services to the telecommunications and financial services industries. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit (www.elephanttalk.com
ValidSoft is a subsidiary of Elephant Talk Communications Corp. and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft's solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit (www.validsoft.com
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