ProgressSoft Demonstrates its Mobile Payment Solution in MEFTEC 2010

Manama, April 20, 2010

ProgressSoft, the leading provider of real-time payments and imaging solutions, participates today in MEFTEC 2010, the banking and financial technology event that is taking place in Manama, Bahrain on the 20th & 21st of April, 2010. During MEFTEC's renowned trade exhibition, ProgressSoft is demonstrating for the first time in the region its new Mobile Payment Solution, PS-mPay.

Held under the auspices of the Central Bank of Bahrain, MEFTEC is where technology experts unravel their recent offerings, while banking institutions acquire vital knowledge regarding the means to advance their business practices. Today, ProgressSoft is assuming its annual presence and participating as MEFTEC Platinum Sponsor for the fifth consecutive year.

During the first day of the event, ProgressSoft managed to cause a stir among the attendees with live demos of its all new Mobile Payment Solution. PS-mPay, allows customers to conduct money payment transactions using their hand-held mobiles and smart phones. With such contemporary mobile payment platform, country-wide and cross-border payment means are availed for banked and unbanked users.

"As ever, we are excited about being here in MEFTEC and having a substantial number of decision makers show great interest in what we have to offer, especially our new Mobile Payment Solution", expressed Ms. Dareen Alkhas, Marketing Manager, ProgressSoft Corp. "With PS-mPay, we aspire to elevate the financial industry to new altitudes of payments excellence and convenience."

A world-first innovator of Electronic Image-based Check Clearing, ProgressSoft is also presenting its revolutionary solution PS-ECC, which has been successfully implemented on a nationwide scale in 4 countries, where it is actualizing a fully electronic, same-day clearing cycle and check truncation from the branch. ProgressSoft's showcase also includes PS-ACH, the Automated Clearing House Solution for real-time Direct Debit and Credit Transfer.

About ProgressSoft
Established in 1989, ProgressSoft has been focusing its proficiency in Real-time Payments and Imaging technologies to deliver a set of innovative solutions tailored for the needs of the banking and financial sectors. Serving a diversified client base of 140+ banks in 22 countries around the globe, ProgressSoft provides solutions in the fields of Electronic Image-based Check Clearing, Automated Clearing House, Mobile Payments, Intelligent Signature Recognition and Real-time Settlement for Securities Trading.

For more information, please contact:

Yazan A. Goldstein
Corporate Communications Executive
ProgressSoft Corporation
Tel: +962 6 56 23 000 Ext. 211
Fax: +962 6 56 90 564
Email: [email protected]