Elan Financial Services and Sapphire Mobile Systems Partner to Offer Mobile Banking and Payments

LAS VEGAS, NV -- (MARKET WIRE) -- February 28, 2007 -- PrepaidCard Expo -- Elan Financial Services has partnered with Sapphire Mobile Systems to conduct a mobile banking and payments pilot. Elan has integrated with the Phire Mobile Debit Network™ to provide customers with highly secure, instant access to their PayCard accounts via any mobile handset. The Phire network utilizes simple text messaging or SMS (Short Message Service) to function and does not require new hardware or software upgrades for customers. SMS is available on virtually any mobile handset, regardless of phone type or carrier affiliation. This initial pilot allows Elan PayCard customers to conduct balance inquiries, make person-to-person payments, and card transfers from the convenience of their mobile phone. These transactions are referred to as Phire transactions and act together as a mobile debit network to perform monetary transactions in real time. The pilot will be available to select Elan PayCard customers beginning this month and is currently on display at the Sapphire Mobile System's booth at the 2007 Prepaid Card Forum and Expo in Las Vegas, February 27 and 28, 2007.

"We have worked closely with the Sapphire team for more than six months to assist them in bringing their new service to market and to enable the Phire transactions for an Elan pilot. We are excited about the continued evolution of the payments industry and find this solution unique in that no new hardware or software is required on the handset and because the transactions are secured through a variety of sophisticated measures that are easy for the consumer to use. We are pleased to be piloting this SMS based solution," said Dominic Venturo, senior vice president, Elan Financial Services.

"The Phire Mobile Debit Network provides Elan PayCard customers with a unique, secure and easy to use alternative for their banking needs," said Richard A. Rasansky, CEO of Sapphire Mobile Systems. "This pilot with Elan is an incredible opportunity to work closely with one of the leading financial institutions committed to next generation payment technologies. We are thrilled that Phire's patent-pending, bank-friendly open-loop approach to mobile banking and payments is being piloted by Elan. Adding real value and convenience to the customer experience in banking and payments is what Phire is all about."

About Elan

Elan Financial Services provides a complete range of payments products and services including credit card issuing, prepaid card solutions, ATM, debit card and merchant processing. Elan provides transaction processing, terminal driving and the necessary monitoring and support services for nearly 37,000 ATMs nationwide, supports more than 18 million ATM and debit cards and is the largest agent credit card program in the United States with more than 1,500 clients in 50 states. Elan also provides participation in the MoneyPass ATM network. In addition to an innovative product set, Elan also provides full-service support and management tools, which are secured with a unique Service Guarantee, to more than 2,500 financial institutions. For more information call 800-343-7064, or visit them online at www.elanfinancialservices.com.

About Sapphire Mobile Systems

Sapphire Mobile's Phire mobile banking and payments network enables any bank or prepaid debit card issuer to provide their customers with instant access to their accounts using the Short Message Service (SMS) that is available on every mobile handset. The Phire Mobile Debit Network™ allows consumers to securely send cash in real time to anyone with a mobile phone, to check balances, transfer money between their accounts and pay bills through the bank's existing bill pay system, all without requiring the consumer to upgrade their hardware or install new software. Merchants can accept Phire payments at significant cost savings and can generate revenue as cash loading stations for prepaid debit accounts. Financial institution connectivity to the Phire Mobile Debit Network is 'bank friendly', requiring little or no integration to a bank's infrastructure. In short, the Phire Mobile Debit Network turns any mobile phone into a mobile ATM. Sapphire, headquartered in Philadelphia, PA, is privately funded. For more information please link to http://info.phire.com.

Contact Information: Media contacts: Teri Charest Media Relations for Elan Financial Services (612) 303-0732 Email Contact Xenia von Wedel Terpin Communications Group for Sapphire Mobile Systems (415) 595-2030 Email Contact