20th Nov 2007 09:00
Monitise PLC20 November 2007 Tuesday 20 November 2007 TUXEDO MONEY SOLUTIONS AND MONITISE PLC TO ENABLE CONSUMERS TO MANAGE EMONEY FROM THEIR MOBILES Tuxedo Money Solutions and Monitise plc have announced that holders of TheTuxedo eccount card will be able to manage their prepaid funds held on the cardusing their mobile from early next year. The service will be available on any major UK mobile network from over 95% ofthe handsets currently available in the UK. It is based on the same multi-awardwinning technology that powers MONILINK, the mobile banking and payments networkthat provides services to customers of Alliance & Leicester, first direct, HSBC,NatWest, Royal Bank of Scotland and Ulster Bank. Mark Simon, CEO of Tuxedo Money Solutions said: "Everyone has a mobile phonethese days and letting Tuxedo eccount customers manage their money from theirmobile is the ultimate service. After all, it's when they are shopping that theyreally need to know how much they have to spend. "The market for pre-paid cards spans all demographics, including those who don'thave internet connections at home - we believe in extending the availability ofour payment solutions to new and underserved audiences. By offering a mobilemanagement service we are ensuring that all of our cardholders can keep track ofexactly what they have, wherever they are." Richard Johnson, chief strategy officer for Monitise added: "The burgeoningmarket for pre-paid services reflects consumers' desire for the universalacceptance of card-based accounts with the comfort of knowing that theirexposure to risk is limited. "Our Pre-Pay Mobilisation Programme is focused on bringing the convenience ofmobile management to the pre-paid market to deliver total financial transparencyto every card based account. This will allow consumers to be able to understandinstantly their current balance, their transaction history and to keep on top oftheir payments at all times." The Tuxedo Prepaid card service offers a secure way to shop online, makepayments and purchases at over 25 million merchants and withdraw cash from over1.3 million ATM's making it one of the most attractive multi purpose cardsavailable on the market. It's ideal for anyone who wants the reassurance that apre-paid card provides, by avoiding worries about overspending, credit checksand does not require a bank account. Topping-up the Tuxedo eccount Cards withcash is available in over 35 000 locations in the UK, including The Post Office,PayPoint outlets and select High Street Bank branches. Customers can also loadfunds by bank transfer and by using credit/debit cards. The Sun Tuxedo Card, developed by Tuxedo Money Solutions, will also offer accessvia mobiles for its customers to this service. Alastair Lukies, CEO of Monitise plc added: "This announcement is anotherexample of the growing mobile revolution in financial services. As the cardmarket continues to grow, both financial institutions and consumers are lookingfor a convenient and secure way to manage money on the move. The Tuxedo Card isa great way of providing the mass-market with easy access to card based servicesand mobile management will only make it more compelling." * World Economic Forum, 'Technology Pioneer 2006-7'; The Banker 'MobileInnovation of the Year 2007' and; 'Innovation in Messaging award 2007' by theMobile Messaging Association. Contacts: Monitise Group Tel: 020 7868 5200 Duncan McIntyre, Chairman Alastair Lukies, CEO Ben Evetts, Head of Communications Financial Dynamics Tel: 020 7831 3113 Harriet Keen Haya Chelhot Notes to Editors: About Tuxedo www.tuxedomoney.com Tuxedo Money Solutions is one of the UK's leading prepaid card providers. Its first prepaid proposition was the Blue Diamond Card launched in March 2007,the first ever all-in-one card package to be sold over the counter in localretail stores throughout the UK and more recently it has teamed up with the Sun,Britain's best selling newspaper, to offer the Sun Tuxedo card. Tuxedo offersbusinesses the opportunity to produce co-branded prepaid cards of their own.Tuxedo's strengths lie in the technology that underpins the operation of itscards and the flexibility of marketing solutions it offers to its partneringbrands. Mark Simon joined Tuxedo as CEO in June 2007 to lead Tuxedo in to thenext exciting phase of development. About Monitise Monitise plc (MONI.L) is a specialist in mobile banking technology. It hasdeveloped the world's first mobile banking ecosystem, which allows consumers toperform banking and payment transactions using a single consistent interfaceregardless of their choice of mobile operator or bank. With live services in the UK, where it has delivered the MONILINK platform inpartnership with Vocalink, the company is currently working with internationalpartners to deliver similar safe, secure mobile banking services in territoriesworldwide. Partners include Metavante, Sun Microsystems, BT Global Services,HSBC, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest,Vodafone, Orange, O2, T-Mobile and Hutchison 3G. ### This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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