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Utiba's Expansion Plans Improve Revenue Opportunity for ValidSoft's Fraud Prevention Solutions
SCHIPHOL, THE NETHERLANDS, Sep 04, 2012 (MARKETWIRE via COMTEX) --
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(TM) 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(TM) 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).
About ValidSoft
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).
Forward-Looking Statements
Certain statements contained herein
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements may
include, without limitation, statements with respect to the Company's
plans and objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry, management's
beliefs and certain assumptions made by management. Readers are
cautioned that any such forward-looking statements are not guarantees
of future performance and are subject to certain risks, uncertainties
and assumptions that are difficult to predict. Because such
statements involve risks and uncertainties, the actual results and
performance of the Company may differ materially from the results
expressed or implied by such forward-looking statements. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. Unless otherwise required by law,
the Company also disclaims any obligation to update its view of any
such risks or uncertainties or to announce publicly the result of any
revisions to the forward-looking statements made here. Additional
information concerning certain risks and uncertainties that could
cause actual results to differ materially from that projected or
suggested is contained in the Company's filings with the Securities
and Exchange Commission (SEC), copies of which are available from the
SEC or may be obtained upon request from the Company.
Media Contacts
UK/Europe:
Paul Farrow
Fishburn Hedges
+44 (0)20 7839 4321
Email Contact
US/North America:
Jed Hamilton
Intermarket Communications
+1 212 754 5479
Email Contact
Investor Relations
Steve Gersten
Elephant Talk Communications
+1 813-926-8920
Email Contact
Peter Salkowski
The Blueshirt Group
+1 415 489 2184
Email Contact
SOURCE: Elephant Talk
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