MARLBOROUGH, Mass., June 20, 2007 (PRIME NEWSWIRE) -- Cyphermint, Inc., a leading provider of secure electronic payment solutions, announced today that it has entered into an agreement with MonetaExpress Corp., a leader in international remittances processing and services, to provide mobile online financial services using Cyphermint's PayCash Mobile(tm) technology.
The agreement between Cyphermint and MonetaExpress will allow MonetaExpress customers to use their cell phones to transfer money between the USA and the countries of the former USSR, Eastern Europe, and Israel using its secure patented technology. Cyphermint's easy-to-use menu and options will give consumers the ability to process real-time payments in seconds and receive immediate notification when the recipient has successfully received the funds.
"Our company has always strived to bring the best and newest technology to our customers. Because of our low transaction fees, consumers in the U.S. can now use their cell phones to send and receive money from friends and relatives in over 40 countries," said Andrei Zverev, President of MonetaExpress.
MonetaExpress transactions are protected by user PIN. The payment solution does not require complicated downloading and works with any Internet-enabled mobile device. MonetaExpress is the first electronic money transfer system of its kind. Utilizing PayCash technology, the combination of the two technologies provides the most secure information transmission available and in accordance with the regulations and the licenses of both the United States and CIS. All remittances are paid by the banks, their branches and retail establishments in the PayCash Network.
PayCash, with its enhanced patented digital security, authentication and processing features is designed to be highly secure and highly scalable with the ability to integrate cash-based, credit, debit, stored value cards and bank accounts for funding of all types of mobile payments and transactions. PayCash Mobile, backed by PayCash's inherent 1024 bit encryption, also provides MonetaExpress customers access to bill payments, mobile shopping, recurring payments, real-time balance inquiry, and person to person transfers with instant mobile messaging confirmation on all local and international transactions.
Cyphermint's President Joe Barboza said, "We're excited to bring PayCash payment technology to MonetaExpress and their consumers who rely upon complete security when initiating international financial transactions with their cell phones."
About Cyphermint, Inc.
Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and E-commerce solutions. Cyphermint's patented technology, PayCash, is used in three major areas: (1) The PayCash Mobile technology used by today's web-enabled wireless devices (2) Kiosk Solutions -- delivering web-enabled highly secure self-service B2C merchandising systems, and (3) PayCash Internet Payments providing un-banked consumers access to financial services such as Internet shopping, bill payment and debit cards. Cyphermint's software solutions provide highly secure, highly scalable web-enabled transactional, services to merchants and consumers on the Internet, self-service kiosks and on cell phones, smart phones and Internet-capable PDAs.
The PayCash logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1232
About MonetaExpress Corp.
MonetaExpress Corporation is one of the leading providers of online and mobile payment services since 2002 with the headquarters in Seattle, USA. MonetaExpress serves customers through its extensive payment network in over 40 countries and provides international payment processing and consulting services to financial institutions in USA and Europe.