ProgressSoft Presents its Latest Technology in the Mobile Money Transfer Event (MMT Global)

Dubai, October 25, 2010

ProgressSoft, the leading provider of real-time payment solutions, commenced yesterday its participation in MMT Global, the world's leading Mobile Money Transfer event, which is taking place on the 25th & 26th of October, 2010 in Dubai. In addition to being the event's Gold Sponsor, ProgressSoft is present as an exhibitor of recent technological advancements in the mobile money field and a key contributor in the MMT conference.

Bringing together leading players from across the entire MMT ecosystem, MMT Global features 40+ top executive presentations and global case studies. MMT Global this year is seeing over 400 people come together to network and discuss the latest developments and challenges facing the industry.

The first day of the MMT conference featured a presentation by ProgressSoft's CEO, Mr. Michael Wakileh, who conveyed the company's expertise through his discussion of a country-wide payment switch for banked and un-banked users.

ProgressSoft has been dedicating its long-standing expertise to embark on the field of mobile payments. The company has recently introduced its new PS-mPay, the Mobile Payment Solution that allows customers to conduct money payment transactions using their hand-held mobiles and smart phones.

"It costs us a lot to stay ahead in the payments arena; we are again leading the market with another pioneered and state-of-the-art solution from ProgressSoft, that is Mobile Payments. Our objective is to change the lives and livelihoods of the financially excluded, and we want to move payments around the globe towards a new paradigm," expressed Mr. Michael Wakileh - CEO, ProgressSoft.

Live demonstrations of this solution have been conducted during the MMT Exhibition to top-notch executives from both the Banking and Telecommunications sectors. The MMT delegates previewed PS-mPay sophisticated technology and user-friendly features. The solution offers a wide range of payment services that include Person-to-Person, Person-to-Business and Person-to-Government money transfers, in addition to Bill Payment, Point-of-Sale Payments and International Remittances. It ultimately aims to furnish a convenient, hassle-free method of payment that can avail faster access to funds anytime anywhere.