ProgressSoft Exhibits at Mobile World Congress Shanghai 2016

Shanghai, May 30, 2016

ProgressSoft, the leading provider of real-time payment solutions will be participating at Mobile World Congress (MWC) - Shanghai 2016, for the first time. ProgressSoft intends to exhibit its solutions in Mobile Payment technologies during the 3-day event, starting on June 29, 2016, until July 1.

MWC Shanghai is Asia's biggest mobile industry event where about 70,000 of visionary leaders and tech-savvy consumers gather each year to discover the latest in mobile innovation presented by 1,000 exhibitors.

ProgressSoft will be presenting its Countrywide Mobile Payment solution PS-mPay, which allows for domestic and cross-border remittances for banked and non-banked users. This solution offers payment services that include, but are not limited to, Person-to-Person, Person-to-Business and Person-to-Government Money Transfers, in addition to Bill Payment, Direct Credits and Point-of-Sale Payments.

In addition, ProgressSoft will be demonstrating its Mobile Payment Switching & Clearing solution PS-mpClear, which is responsible for processing inter-bank and inter-processor mobile payment transactions. PS-mpClear supports processing and switching mobile financial and non-financial transactions in STP basis and routing messages between multiple mobile payment service providers, ensuring interoperability.

ProgressSoft CEO, Mr. Michael Wakileh expressed that "With great excitement, and as part of our global expansion agenda, we declare our desire to start doing business in China. China’s astonishing GDP growth of about 10% a year for 30 years from 1978 firmly established it as one of the most significant markets. The national payment system has progressed remarkably as well, and has played an important role in driving the country's economic and social development. We believe we can be of great added-value in driving the payment system in the country to a new paradigm and we aspire to find the right business partnership with the People's Bank of China and prominent payment system companies."

Since its inception in 1989, ProgressSoft has been focusing its proficiency in payments and imaging technologies to deliver a set of solutions tailored for the needs of the banking and financial sectors. Operating through 6 offices in other countries, ProgressSoft nurtures a diversified client base that extends to more than 350 banks and central banks in 24 countries around the globe.

ProgressSoft provides solutions in the fields of Electronic Check Clearing, Mobile Payment, RTGS, EFT, ACH Payment, Corporate Banking & Cash Management, Securities Trading Settlement and Intelligent Signature Verification.