BCB and Celcom choose 724 Solutions' wireless solution for the first SMS prepaid mobile recharging service in Malaysia.Business Editors & High Tech Writers TORONTO--(BUSINESS WIRE)--June 3, 2002 Delivers the missing link for mobile operators and banks in Asia Pacific 724 Solutions (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SVNX)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SVN SVN Subversion (version control system) SVN Slovenia (international traffic code) SVN Social Venture Network SVN South Vietnam SVN Secure Virtual Network SVN Supervised Visitation Network ) announced today that its wireless solution has been chosen by one of Malaysia's largest banks, Bumiputra
Bumiputra or Bumiputera (Malay, from Sanskrit Bhumiputra Commerce Bank Berhad (BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band ), and Malaysia's second largest mobile operator, Celcom (Malaysia) Berhad. The solution enables Celcom's prepaid mobile customers, who hold bank accounts with BCB to access the network and recharge their airtime by simply sending an SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. (short message service), from wherever they are. First SMS Prepaid Mobile Recharging Service BCB and Celcom's partnership, the first Telco-Bank link-up in Malaysia for wireless services, brings to life the convenience of prepaid mobile recharging through the application of 724 Solutions' mobile operator-grade technology. About 60 percent of Celcom's 2.3 million customer base is a prepaid mobile customer, who will now have access to the most advanced, interactive recharging services to this high growth segment. Celcom prepaid mobile customers who have either a BCB checking or savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: , can simply register for the service by calling BCB's call center or use the Internet to log-on to the bank's mobile banking portal. A password for service activation is then sent to customers via SMS upon successful registration. Customers do not have to reveal any personal details via SMS - they just use their password to maintain confidentiality. After receiving customers' SMS instructions and password confirmation, the bank directly debits the amount from the registered account. Through this innovative service, customers can recharge their prepaid mobile service from wherever they are in Malaysia or around the world. Transactional Solutions for Asia-Pacific The prepaid top-up solution for BCB and Celcom is the first implementation of the alliance between 724 Solutions and QuickNet.Com that was announced in April. The strategic alliance leverages technologies from both organizations, with the mobile application developed by QuickNet.Com on 724 Solutions' wireless technology, thus providing the missing link to mobile operators and banks in order to allow them to offer convenient transactional services. 724 Solutions also offers mobile operator solutions such as the Payment Server, which provides mobile operators with a flexible business rules engine and digital wallet for enabling secure mobile transactions. By using the payment server, financial institutions and mobile operators are able to provide a robust, prepaid top-up solution. According to Randy Lenaghan, General Manager, Asia Pacific of 724 Solutions Inc, "The prepaid mobile phone This is a method of billing for a mobile phone. Prepaid mobile phones operate by a user’s purchase of mobile services in advance of using them. By purchasing credit to use on a mobile phone network, a user can access a mobile phone network without ongoing billing. recharging service that Celcom and BCB are rolling-out in Malaysia demonstrates how 724 Solutions' products can help companies pro-actively use mobile commerce to their advantage, both by stimulating and enabling transactions. We believe this is what the mobile operators and financial institutions are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. today. 724 Solutions is very proud to be associated with BCB and Celcom as they offer this first-of-its-kind service in Malaysia." About 724 Solutions Inc. 724 Solutions Inc. (NASDAQ:SVNX)(TSE:SVN) is a leading provider of mobile Internet infrastructure software and applications. It makes m-business happen globally by powering the delivery of secure mobile transactions for financial institutions and mobile operators. With headquarters in Toronto, Canada, the company has development and sales offices around the world. For more information, visit www.724.com. This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions, the benefits that businesses will obtain from these services and products and future demand for these services and products. 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 the risk that 724 Solutions will be unable to deploy the solutions and products stated herein, the risk that the demand for these solutions and products, or for 2.5G and 3G networks, will not increase as presently anticipated and other risks described in 724 Solutions' Securities and Exchange Commission filings, including its annual report on Form 10-K. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators Canadian Securities Administrators(CSA) is a forum for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets. . 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law. |
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