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December 14, 2006

mFormation and Visa collaborate on new mobile payment technology

mFormation Technologies, a global provider of complete mobile device management solutions, has entered into a strategic alliance with Visa International to advance over-the-air solutions for mobile payments, involving a strategic investment in mFormation by Visa.

By CBR Staff Writer

mFormation provides solutions that enable mobile operators to manage wireless handsets and mobile services remotely. Applications and software updates are efficiently delivered over-the-air, eliminating the requirement for in-person support. This ability could benefit the payments industry by offering banks and operators the potential to securely and remotely provision mobile devices with payment applications, and ultimately bring mobile payments programs to commercial scale.

Mobile device management is critical to delivering the last mile of successful mobile services and can address the many challenges to commercial scale offerings, said Mark Edwards, mFormation CEO. As we begin to expand our business to new industries, leveraging our success in general mobile services, we look forward to our strategic collaboration with Visa to now enable innovative mobile payments.

The collaboration between the two companies is expected to develop over-the-air delivery and management solutions for mobile payment applications. The new functionalities are anticipated to be available in a pilot trial scheduled for 2007.

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