724 Solutions Inc. Launches Next-Generation Mobile Transaction Solution in Its Mobile Commerce Services Platform.

Business Editors & High-Tech Writers

TORONTO & AUSTIN, Texas--(BUSINESS WIRE)--April 3, 2001

MSP Drives Consumer-Friendly Secure Payment Transactions

in the Mobile Commerce Arena

Leveraging its core competency in enabling secure mobile transactions, 724 Solutions Inc. (Nasdaq:SVNX) (TSE:SVN.) has launched its Mobile Commerce Services Platform(tm) (MSP) -- a highly scalable and modular solution that alerts consumers to personalized offers, and manages the completion of secure payment transactions.

The MSP was developed to maximize payments in the mobile market by securely connecting buyers to sellers via wireless devices, and enticing them to conduct transactions through features like actionable alerts and 724 Solutions' Point of Exposure Technology (POET(tm)). Actionable alerts allow consumers to be notified and given a "buy button" option for the goods and services that matter most to them. An alert could include anything from airline travel rebates to a sale on blue jeans. Meanwhile, POET enables merchants to initiate "point-of-exposure" consumer purchasing using advertising as a primary driver. By integrating offline stimuli -- such as a numerical code on a billboard or in a magazine ad -- with the mobile Internet, POET allows buyers to pull an offer to their wireless device and complete a transaction at the point of exposure with minimal effort.

The key components of the MSP include:

-- Mobile shopping applications: Top 10 lists, POET, search;

-- Personalization: actionable alerts;

-- Secure payment applications: secure vault stores the end-user's credentials
and personal information, such as credit card account numbers and shipping
details;

-- Flexible commerce gateways: connectivity to consumers' existing e-wallets,
merchant sites, and content providers; messaging gateway; device and network
gateway;

-- Security: user ID and password authentication for access to e-wallets and to
confirm final sale.

"The MSP builds upon the core strengths of 724 Solutions' existing products to manage the connectivity of buyers and sellers, and to help drive incremental transaction volume," said Chris Jarman, General Manager, m-Commerce, 724 Solutions Inc. "724 Solutions has developed infrastructure that enables secure mobile transactions, complementary technologies that personalize and make for a richer user experience, and elements that help entice and stimulate transactions. We believe that our ability to enable connectivity between a wide footprint of consumers and a tremendous potential base of goods and services will maximize both customer value and merchant opportunity."

The MSP's architectural design and connectivity model provides broad appeal to all of the key players in the mobile commerce value chain -- from network operators and portals, to financial institutions and merchant aggregators -- thanks, in part, to its low-impact connectivity to merchants or sellers.

"724 Solutions continues to leverage and enhance its core knowledge of enabling secure mobile transactions," said Jarman. "The MSP is differentiated in the market through its ability to couple 724 Solutions' transaction processing capabilities with commerce gateways, which connect to and leverage third-party services."

This first release of the MSP supports credit card and debit card payments, and the wallet gateway allows for interoperability with a variety of leading-edge PC wallets and their respective payment options. 724 Solutions is working with best-of-breed technology and applications companies like The Brodia Group -- a leading Payments and Identity Management solution provider, whose digital wallet solution is used by the majority of the top ten U.S. credit card issuers -- to create a rich and intuitive user experience for consumers.

"724 Solutions is a market leader, with a proven ability to manage the complexities of wireless connectivity to the various technologies, devices, and standards found in the financial services area," said Ron Martinez, Chief Executive Officer, The Brodia Group. "Brodia is excited that its digital wallet is the first to be integrated with the MSP wallet gateway, creating new value and usefulness in m-commerce world-wide."

This first version of the MSP is offered as a hosted solution through 724 Solutions' Global Services Group, enabling faster time-to-market and managing the complexities of merchant connectivity and platform integration for the mobile services provider. The product currently supports digital mobile phones with Phone.com HDML and WML browsers, with additional device support expected in future releases.

About 724 Solutions Inc.

724 Solutions Inc. is a leading global provider of Internet infrastructure software that enables the delivery of secure mobile transaction solutions across a wide range of Internet-enabled devices. The 724 Solutions suite of products and services enables companies to monetize the mobile Internet by building, deploying, and integrating personalized and secure mobile commerce and lifestyle applications. The company also offers end-to-end customer support through its global application hosting and contact center services. 724 Solutions' customers have a combined customer base totaling more than 270 million consumers worldwide. With dual headquarters in Toronto, Canada, and Austin, Texas, the company has development and sales offices around the world, including Australia, Barbados, Finland, France, Germany, Japan, the Netherlands, Switzerland, the United Kingdom and the United States. 724 Solutions' common shares are listed on the NASDAQ National Market (SVNX) and The Toronto Stock Exchange (SVN). For additional information visit www.724.com.

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding the services and features that will be offered as part of the Mobile Commerce Services Platform (MSP) now and in future releases, the benefits that customers and consumers will obtain through these services, and future demand for these services. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that 724 Solutions will be unable to attract customers in new industries, any failure by target customers or consumers to demand such products, competitive products and pricing from other providers, any inability of 724 Solutions to offer enhanced product offerings, and other risks described in 724 Solutions' SEC filings, including its annual report on Form 10-K. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators, including its prospectuses, material change reports, Annual Information Form and Management Information Circular. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.