DENVER, Aug. 11 /PRNewswire-FirstCall/ -- Western Union Financial
Services, Inc., a subsidiary of First Data Corp. (NYSE: FDC), today announced
the purchase of a majority stake in Eposs Limited, a Cambridge, UK-based
market leader in electronic product delivery and payment solutions for the
prepaid cellular, or mobile top-up, entertainment and services market.
Terms of the transaction were not disclosed.
The purchase serves as the basis for a strategic relationship in which the
companies will use Western Union's and First Data's business relationships to
help Eposs expand globally. Western Union is a worldwide leader in money
transfer and bill payment services with approximately 165,000 agent locations
in 195 countries and territories. First Data serves more than three million
merchant locations.
"Prepaid cellular, or top-up, is one of the fastest-growing segments of
the payment services category," said Christina Gold, president, Western Union
Financial Services, Inc. "We've specifically targeted prepaid mobile in our
acquisition and development efforts because of its strong growth and the
demographic link between these consumers and the Western Union customer
profile. We selected Eposs because of its strategic position in the fast-
growing European market and its inroads into Asia where prepaid mobile growth
is strong. No doubt, this will be a great partnership."
This alliance with Western Union will give Eposs a global footprint for
its comprehensive range of electronic pre-pay solutions for retailers. Eposs'
electronic products are sold in-store through integration with retailers'
existing point of sale systems and through advanced multimedia vending
machines.
"In the past year, Eposs has successfully established itself as a leading
provider of mobile phone services in the UK, offering a range of mobile top-
up, entertainment and information services," said Michael Norton, chief
executive of Eposs. "With the recent success of our pilot launches into the
USA, China, Singapore and Germany, and a growing number of other international
opportunities, we recognized the necessity for a strong partner to facilitate
our global expansion."
The Eposs relationship complements the Western Union Prepaid Service in
the U.S., which provides real-time payments for large mobile carriers through
the Western Union Agent network.
About Eposs Limited
Eposs Limited specializes in the management and delivery of innovative
electronic products and the provision of electronic payment solutions.
Based near Cambridge in England, Eposs has an operational focus in the UK
and a fast-growing presence in continental Europe and the Asia-Pacific region.
Other market-leading companies in the Eposs Group include Omega Logic
Limited, which supplies integrated software systems that connect retailers to
mobile network operators and other service providers, and Ringtones Online
Limited, which provides business-to-business mobile applications and
entertainment content, including mobile telephone ringtones and games.
Eposs' electronic products are sold through retail outlets using a
combination of advanced multimedia vending machines and integration with
retailers' own point of sale terminals. This offers product owners a new
route to market, while providing retailers with an innovative product suite.
In the UK alone, more than 12 million pounds sterling has been invested in
developing Eposs' technology-driven infrastructure -- offering retailers,
content providers and other suppliers key benefits such as advanced
functionality, reliability, ease of use and ease of integration.
The company's strategic focus is on expanding its range of products,
whilst broadening its distribution channels. It is also committed to
developing further cutting-edge technology, extending its global network, and
providing unrivalled customer support.
More information about Eposs can be found at: http://www.eposs.com
About First Data Corp.
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps
power the global economy. As a leader in electronic commerce and payment
services, First Data serves approximately 3 million merchant locations, 1,400
card issuers and millions of consumers, making it easy, fast and secure for
people and businesses to buy goods and services using virtually any form of
payment. With 29,000 employees worldwide, the company provides credit, debit,
smart card and stored-value card issuing and merchant transaction processing
services; Internet commerce solutions; money transfer services; money orders;
and check processing and verification services throughout the United States.
First Data also offers a variety of payment services in the United Kingdom,
Australia, Canada, China, Japan, Mexico, Spain, the Netherlands, the Middle
East and Germany. Its Western Union and Orlandi Valuta money transfer networks
include approximately 165,000 Agent locations in more than 195 countries and
territories. For more information, please visit the company's Web site at
http://www.firstdata.com .
FDC-1
SOURCE First Data Corp.
 back to top
Related links:
http://www.firstdata.com
CONTACT:
Michael Norton of Eposs, +44 (0) 1223 523888;
or Peter Ziverts of Western Union, +1-303-488-8017; or Brian
Oliver of Focus Marketing Communications, +44 (0)20 8687 1622,
brian@focusmarketingcommunications.com, for Eposs Limited
|
