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Fundamo signs collaboration agreement with Mosaic Software
October 2004

South African banking and mobile commerce software company Fundamo has signed a collaboration agreement with global transaction processing software provider Mosaic Software to complement and promote each other’s offerings in the mobile payments arena. Mosaic Software is one of the top four payments and EFT companies worldwide.

As Fundamo is a leading banking and mobile commerce software company specialising in transactional banking and mobile payment solutions, its software has enjoyed a wide range of deployments in a number of countries in Africa with sizable customer bases and transactional volumes.

The agreement, which formalises the synergistic relationship the companies have enjoyed over the past five years, will see the promotion by Fundamo of Postilion, the transaction processing software application that forms the cornerstone of Mosaic Software’s business, to customers that require payment processing capabilities and where it can be used to facilitate integration with existing banking infrastructures.

“The blend of Fundamo’s expertise, in the provision of the mobile front-end on the mobile phone and similar platforms, together with Mosaic Software’s strength in managing transactional processing will provide a mechanism for us to extend our offering with broad-based mobile capability,” says Willem van Biljon, director of new business development and product strategy at Mosaic Software.

Fundamo will package a version of its Extender product to provide a mobile front-end for Postilion users to deploy the mobile banking, payment and commerce capabilities of Extender in conjunction with their Postilion switches. Extender adds mobile payment and banking capabilities to existing banking systems or financial switches. It also makes it possible to deploy a variety of mobile commerce services in conjunction with existing bank infrastructures.

“We see this collaboration as a strong example of twointernationally respected companies co-operating to maximise synergy between their offerings and marketing efforts,” says Craig Saks, executive director of Fundamo.

Craig Saks, Fundamo, (021) 943-2225, [email protected]
Willem van Biljon, Mosaic Software, (021) 659-6000, [email protected]
Linda Doke, FHC Strategic Communications, 083 447 9378, [email protected]

About Fundamo
Fundamo is a leading South African banking and mobile commerce software company specialising in transactional banking and mobile payment solutions. The company’s customers include banks, mobile operators, payment processors and mobile commerce specialists. Fundamo’s offerings are ideally suited to emerging markets, and targets international growth through quality business partnerships and resellers, including Gemplus, the global leader in the provision of smart cards, and global electronic funds transfer company Mosaic Software.

Fundamo’s suite of products enables person-to-person payments, payments for deliveries, airtime purchases, bill payments, retail payments and payments for virtual content. The transactions offer immediacy, convenience, security, simplicity and affordability. Fundamo’s software has enjoyed a wide range of deployments in a number of countries with sizable customer bases and transactional volumes. Fundamo’s major shareholders include Venfin and Sanlam.

About Mosaic Software
Mosaic Software is a global EFT software company with offices in the United States, the United Kingdom, South Africa, and Asia Pacific. The company has over 200 customers in more than 40 countries, providing leading-edge software solutions to financial institutions, retailers, network processors, mobile operators, and portals.

Mosaic Software's product, Postilion, is at the forefront of next-generation payment processing software. Postilion drives payments and other financial transactions through ATMs, POS terminals, phones, and Internet access points. This multi-channel architecture provides consistent cross-channel branding and integration, consolidated management information, integrated debit/gift card management, EMV enablement, and loyalty software solutions.

Postilion reduces transaction processing costs, speeds up time to market for new products and offerings, improves analysis of customer transactions and business opportunities, and increases profitability.

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