MIAMI, FL -- (Marketwire) -- 06/07/12 -- Alternet Systems, Inc. (OTCQB: ALYI) is pleased to announce the expansion in the Americas of its partner Utiba, leading provider of mobile financial services solutions. Based upon the success of Utiba Americas, Utiba's affiliate in the Americas in partnership with Alternet, Utiba has decided to locate a software development center in South Florida, close to its fastest growing client base in Latin America.
In 2010 Utiba Americas began actively marketing the Utiba Mobility end to end mobile financial service solution as a hosted service and as a traditional software license. Since that time the company has sold and implemented mobile financial service solutions in Bolivia, Colombia, Ecuador and Guatemala, with further implementations under way in Venezuela, Honduras and Mexico. Utiba expects to be present in 14 countries in the Americas including the United States and Canada by the end of 2013. This growing customer base has compelled Utiba to place development resources in the US to speed customer deployments and support for its evolving mobile financial services platform.
In February of this year Utiba launched its Converging Payments strategy which promises to bring more sophisticated mobile financial services to its customers (mobile operators, financial institutions and third party payment networks) and their mobile wallet subscribers, which are often unbanked or underserved populations. Utiba launched its Converging Payments strategy by announcing its partnership with MasterCard to allow mobile wallet users access to the global acceptance network of MasterCard and vastly expand their payment options. Other components of the Converging Payments strategy include business intelligence, credit scoring and advanced authentication, all designed to enable the design and delivery of more advanced financial services, like micro insurance, to the unbanked.
Henryk Dabrowski, Alternet CEO and acting CEO of Utiba Americas, commented saying, "We are thrilled with Utiba's reaffirmation of its commitment to the Americas market. Having core development resources nearby gives us the ability to respond faster to our customers' requirements and meet our clients' implementation deadlines."
Utiba has spent more than a decade developing the leading mobile financial services solutions in the market, in pursuit of its vision of enabling everyone to make mobile payments. In use in more than 30 countries, the Utiba Mobility platform supports 500 million subscribers and processes over 12 billion transactions per year, enabling people to send money, pay bills, receive salaries and more, all from their mobile phone. Privately held Utiba is headquartered in Singapore, with seven regional sales, service and development offices worldwide. For more information, visit www.utiba.com.
About Alternet Systems Inc.
Alternet Systems Inc. (OTCQB: ALYI), a US corporation headquartered in Miami, Florida, is a leading enabler of Secure Mobile Commerce and Communications in the Americas and Caribbean. Alternet has regional presences in 17 countries throughout the region through a network of fulfillment partners and agents. Alternet's subsidiaries provide a comprehensive suite of hosted and Software as a Service (SaaS) applications for the Utility, Transportation, Financial, and Telecommunication, and Retail industries. Alternet subsidiaries include Utiba Americas, a joint venture with Utiba Pte Ltd., the leading provider of mobile payment and financial transaction software, and International Mobile Security (IMS) a provider of mobile communications security products and services.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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