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PayAllNow Selects Altair as Preferred Debit Card Issuer for Growing Prepaid Payroll Card Market in Europe

London – 22 June 2006 – PayAllNow, a leader in electronic and mobile payment processing, has selected Altair, a leading provider of global prepaid solutions, as its main issuer of customised debit cards. PayAllNow will be offering co-branded prepaid debit cards to its merchant customers, who will use them as payroll cards for their affiliates and employees.

The prepaid payroll card market in Europe is growing significantly due to the high number of temporary and transitory workers in industries such as hospitality and catering, construction, agriculture and food-processing. According to the OECD, a lot of migration to Britain is short-term and is purely work related. Prepaid payroll cards offer significant benefits for employers as well as un-banked employees, ie. those who do not have bank accounts, such as transient workers.

Employees receive their wages on a card rather than having to cash a cheque and therefore benefit from a convenient and safe method of payment. As an open card solution, these payroll cards carry either MasterCard, Visa or Maestro. Employees can access their cash at ATMs and banks, as well as use their cards on the Internet, in the traditional retail environment or to pay bills. For employers, the payroll cards provide the opportunity to cut costs on processing payroll, particularly in those industries where a number of cheques need to be produced and distributed. Employers are able to load the payroll cards with the employees’ wages in a fast, simple and cost-effective manner and benefit from lower administration charges and reduced security costs related to cash payments.

Commenting on the agreement with PayAllNow, Lee Britton, Managing Director of Altair, said: “We are delighted to have been chosen as PayAllNow’s preferred debit card issuer. We consider PayAllNow a tier one partner and anticipate a long and mutually-beneficial partnership. The prepaid payroll card is flexible and versatile and is significantly easier to manage for all in the value chain. This is especially true in those industries where there is high employee turnover or where employees are transient workers.”

“We recognise the need to offer a payment method to our merchants to enable them to pay their affiliates and staff anywhere in the world in a fast, secure and cost-effective manner. Having assessed the prepaid debit card market, we decided that Altair would provide the best solution for our needs. We see the PayAllNow Payroll Card as a natural addition to our successful PayAllNow service, which allows merchants to accept financial transactions across the three main channels, Web, WAP and SMS,” said Graham Gilmour, CEO of PayAllNow.

“The PayAllNow Payroll Card is an attractive proposition for all companies with a large global network that need to pay agents in British pounds, Euros or US dollars. Prepaid payroll cards have been extremely successful in the US and we believe that the potential for these cards in Europe is immense,” Gilmour added.