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WAY Systems Announces Visa International Strategic Alliance and Investment PARIS, Nov. 3 /PRNewswire/ -- WAY Systems, Inc., a leading provider of mobile phone-based point of sales (POS) solutions, announced today that Visa International, the world's leading payment brand, has executed an equity investment in the company as part of their February 2004 strategic alliance. Through the alliance, the companies will work together to identify innovative card acceptance solutions for merchants in need of secure, on-line mobile payment methods.WAY Systems, Inc., provides cost-effective innovative mobile payment transaction solutions that transform low-cost GSM mobile phones into secure wireless POS terminals using standard General Packet Radio Service (GPRS) networks. The terminals enable merchants to accept card payments virtually anywhere, anytime without the need for a telephone line. WAY Systems secure POS terminals target mobile merchants worldwide who historically were unable to process secure real-time transactions because of the lack of, or high cost of, the telephone line infrastructure. WAY Systems, in partnership with Visa International, is demonstrating the MTT integrated with the Visa Smart POS EMV module in Paris at Cartes 2004, the premier international industry event for smart card technology November 2-4. "Building our relationship with Visa accelerates WAY Systems reach in the growing market of mobile merchants," said Will GrayLin, President and CEO of WAY Systems. "Everyday we encounter new merchants worldwide who are unable to process card-present transactions due to current market inhibitors. Our partnership with Visa International gives WAY Systems the opportunity to extend card acceptance into a completely new market." About Visa Visa is the world's leading payment brand generating US$3 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce -- the ability to conduct commerce anywhere, anytime, and any way. For more information, visit http://www.corporate.visa.com/. About WAY Systems, Inc. WAY Systems (http://www.waysystems.com/) is a leading provider of Mobile Phone based Point of Sales (POS) solutions for millions of unwired Merchants worldwide. Headquartered in Boston, Massachusetts with offices in Shanghai, Hong Kong and Singapore, the Company has gained recognition for its award-winning Mobile Transaction Terminal (MTT) that is ready to work upon delivery, virtually anywhere. WAY Systems is a privately held company funded by payment industry veterans and entrepreneurs, and holds strategic alliances with payment and mobile industry leaders such as TNS, Visa International, AT&T Wireless and Siemens Mobile. WAY Systems is the only company in the world today that holds a license from Fractal Commerce for Accessor(TM) technology for Merchant POS. 2003 WAY Systems Inc. All rights reserved. WAY Systems, Inc. and its products are trademarks and service marks of WAY Systems Inc. All other trademarks and service marks, whether registered or not in specific countries, are the property of their respective owners. WAY Systems, Inc. CONTACT: Colin Baptie, Global Corporate Relations of Visa International,+1-650-432-4671, [email protected]; or Damien Balsan, Marketing of WAY Systems,Inc., +1-781-569-0413, ext. 213, [email protected]; or Tanita Sandhu,Public Relations of Bluegill Communications, Inc., +1-949-474-2267,[email protected], for WAY Systems, Inc. Web site: http://www.corporate.visa.com/http://www.waysystems.com/ |