Press Release: Worlds First In Mobile Payments

From PRWeb Newswire Chesterfield, United Kingdom, October 12, 2007 - for immediate release

MobillCash is a Mobile Payment System that enables people to use their mobile phone to make purchases without the need of a credit card or bank account.

Vidicom Limited, the owners of the MobillCash Payment Gateway, today announced that from November 1, 2007, all merchants who accept MobillCash as a method of payment will earn up to 32% extra per transaction from all sales to U.K. mobile phone customers.

This significant breakthrough has been achieved following lengthy negotiations between MobillCash and Her Majesty's Revenue and Customs (HMRC) - the government department that is responsible for administering and collecting the taxes in the United Kingdom. HMRC has ruled that MobillCash's unique service is a genuine "Financial Transfer Service" and as such should be treated in exactly the same way as other e-money processors and credit card companies like Visa and MasterCard.

From November 1, 2007, this new status will pay dividends to all MobillCash merchants who will enjoy payouts that will increase by anything between 20% and 32% per transaction, depending on which mobile service provider is used by the consumer.

Glyn Smith, Founder / CEO, stated, "Five years of planning and three years of programming have finally paid off. I firmly believe that MobillCash is the first and only Mobile Payment System that is exempt from sales taxes." He went on to say, "Any on-line merchant who currently sells digital services via any ordinary PSMS or SMS billing platform, or even via the very latest WAP applications can instantly increase its profits by 32% per transaction without changing the way it does business by simply making a no cost switch to MobillCash.

Mr. Smith went on to say, "The implication of achieving the status of a financial transaction provider is extremely wide reaching. Almost by default, this will be adopted throughout the European Union in the very near future. We have worked single mindedly towards establishing MobillCash as the first and only Mobile Payment System worthy of this status - we find this very rewarding, but the real rewards will be felt by our Merchants. We are working towards making MobillCash available to one billion mobile phone subscribers by early in 2008 and to have this unique status reflected in other continents around the globe as soon as possible."

MobillCash is simple to use for both customers and merchants. A customer makes a purchase by simply entering his mobile phone number on a web site. He'll then receive a text message to confirm his purchase with a simple reply of "Y" for yes. Then the purchase price will be billed to him by his mobile phone carrier.

About MobillCash

MobillCash is one of the fastest growing Mobile Payment Systems in the world. It is wholly owned by Vidicom Ltd with head quarters in the U.K. and a sales office in the U.S. Additional information can be found at:

www.mobillcash.com/merchant

Press Contact:
In U.S. - Philip Tarazi, VP, Voice philip.tarazi@mobillcash.com
In U.K. - Glyn Smith, CEO, Voice info@mobillcash.com

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