Artic Web changes its name to Altamedius™ - Market leading provider of Next Generation Payment Intermediation technology

Dublin (November 27, 2001) – Artic Web, a leading provider of next generation payment intermediation technology, today announced that it has changed its name to Altamedius™.

Derived from the Latin altus, meaning "high" and medius meaning "go-between", Altamedius symbolizes the company’s value proposition as the foremost provider of software for the brokerage of new-age, electronic payment transactions.

"The name Altamedius captures our desire to become the industry’s leading provider of payment intermediation technology", said John McCallion, founder of Altamedius. "It further embodies our unfailing commitment to excellence, by empowering our customers with the highest quality, most functional, most scaleable, e-commerce payment transaction software."

Altamedius software is empowering leading banks and mobile network operators to generate new revenues, along with increased customer satisfaction, by launching multi-channel electronic payment services.

"We are tremendously excited about the fast growing market for Altamedius software solutions", said McCallion. "We offer the industry’s most complete, end-to-end technology platform, for operators and banks wishing to facilitate payment for digital and physical goods and services. Our platform supports both micro and macro payment transactions, with support for new and traditional payment instruments."

Market Background
According to Yankee Group, the European m-commerce market will be valued at $56 billion by 2006. Yankee further estimate that premium content (ringtones, icons, games, MP3 video clips etc.) will account for 75% of the total value of m-commerce transactions. “Premium content will generate the bulk of m-commerce transactions with revenues of over $40 billion in western Europe by 2006.”

Altamedius believes that mobile operators are perfectly positioned to facilitate and revenue share in this m-commerce transaction pool. "Mobile operators share of mobile commerce transaction values will stabilize at just over 8% by 2006. At this level of involvement, mobile operators in western Europe will receive $4.18 billion for m-commerce in 2006. (Yankee)."

In our experience, forward looking financial institutions are also seeking to share in this revenue, by provisioning payment services and collaborating with mobile operators. There are obvious synergies, as banks have experience in payments and historically strong merchant relationships, while operators have access to mass-market, wireless enabled, consumer bases.

The Altamedius payment platform directly addresses the needs of these players. The platform is optimized in respect of micro-payment for premium content, identified by Yankee Group as the key m-commerce revenue driver. The platform uniquely provides a complete end-to-end solution, allowing content providers to set pricing and get paid, allowing the consumers to pay, empowering the bank or mobile operator to mediate the transactions.
Altamedius Payment Platform

The Altamedius platform supports micro- and macro-payment for digital and physical goods and services.

In the case of micro-payments, the consumer is issued by the bank or mobile operator, with a personal electronic purse account. This account is funded in turn by the consumer’s choice of bank account, mobile phone bill, pre-pay account, credit or debit card. In the case macro-payments, the consumer is issued with a personal electronic wallet account for secure storage of customer payment credentials, including credit and debit card numbers.

For premium content providers, Altamedius provides a complete toolset for pricing, rating and release of content without requiring any changes to existing merchant infrastructure – thus providing "zero merchant integration". The content provider is equipped with powerful GUI-based administration tool, allowing the provider to easily set pricing rules.

Altamedius core solution components include an electronic wallet, virtual accounting system, content pricing/metering system and a payment gateway. Additional components include Merchant Reporting, Customer Care, Customer Self-Care and Merchant Care. These modules are the building blocks on which a variety of e- and m-payment applications can be built.

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