Altair Continues Innovations in Prepaid and Contactless Payments

LONDON, 26 June 2008 (www.AllPayNews.com) : Altair Financial Services International Plc (Altair), global prepaid card and transaction processing solutions provider, announced it will team with CardPOS Europe/Laks and ID Data to offer the latest innovation in contactless payments, the UK’s first approved reloadable MasterCard® PayPass™ Watch capable of supporting offline transaction authorisations. The watches and packaging can be custom branded, and include a unique design for easy to use customer SIM card insertion/withdrawal. Altair exhibited the contactless payment device at Prepaid08 in London earlier this week.

According to Altair CEO, Lee Britton, “The MasterCard PayPass Watch gives customers a new and exciting way to pay, and offers merchants a new revenue opportunity, increased throughput and improved customer loyalty. Contactless can bring benefits to card issuers aiming to differentiate their products. The MasterCard PayPass Watches could change the way people buy as they will no longer need cash on hand and can spend less time waiting to pay for goods.”

Altair has been at the forefront of contactless prepaid cards since working with MasterCard to issue the first prepaid MasterCard PayPass cards in London last year. Altair was also involved in the introduction of limited edition MasterCard Prepaid PayPass cards at The BRIT Awards 2008 and Swarovski Fashion Rocks for the Prince's Trust 2007.

Earlier this year, Altair helped deliver the first stadium contactless prepaid card in Europe, the Manchester City FC MasterCard® Prepaid Seasoncard with PayPass, with MBNA and MasterCard.

The Manchester City FC MasterCard Prepaid Seasoncard is the first of the next generation entry control cards that combines for the first time three applications in a single piece of plastic. The card stores membership data and is capable of interfacing contactlessly to the Manchester City Stadium turnstiles to allow entry to home matches, it also supports standard Chip and PIN payments and contactless payments with MasterCard PayPass.

-ENDS-

For further information, please contact:
Steven Phillips on +44(0) 20 7659 1178 or email steven.phillips@altair-financial.com

Notes to Editors:

About Altair Financial Services International Plc
Altair Financial Services International Plc was incorporated in 2005 as a global provider of Prepaid Card solutions with enhanced functionality. Altair acquired established transaction processing company, Symmetrex, Inc. in March 2007. Altair is headquartered in London with banking and processing relationships in UK, USA, Asia Pacific and throughout the Latin America and Caribbean regions and issues on behalf of MasterCard® and Visa.

Altair solutions are designed to be flexible enough to provide companies with almost any type of prepaid card functionality, including open and closed loop programs. Through its relationship with MasterCard® all Altair cards issued in Europe are based on Chip & PIN technology and are EMV standards compliant. Altair is a certified issuer and transaction processor of contactless (MasterCard® PayPass™) prepaid cards in the United Kingdom. For more information, visit www.altair-financial.com

About: CardPOS Europe/Laks
Established in 1986, LAKS watches have combined creativity with the modern trend and quality with innovative technology. LAKS deploys only finest and best materials, such as hand-brushed steel, scratch-proof sapphire glass and quartz movements of highest quality. LAKS engineers are attending the complex constructions and productions unto the perfect watch.

Laks have been at the forefront of ICT watch technology innovation and products include Memory Storage Watch, MP3 Watch, Digital TV watch. Laks have now integrated PayPass technology bring the first MasterCard Approved PayPass watch to the market. Laks PayPass Watch is represented, sold and serviced by Laks agents, CardPOS Europe Europe’s leading provider of RFID technology.

About ID Data Ltd. (IDDL)
The direct supply arm of the ID Data Group PLC with expertise in the manufacture, personalisation and fulfillment of plastic cards and Key tags.

IDDL’s production site in Petersfield, England was purpose built for the manufacture, personalisation and fulfillment of cards and card related products. The Site is fully accredited to manufacture secure MasterCard & Visa cards as well as gift and loyalty products. For more information go to http://www.iddata.com

About MBNA Europe Bank:
MBNA Europe, a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC), is the recognized leader in affinity marketing. MBNA credit cards and related products and services are endorsed by more than 5,000 organisations worldwide. For more information, visit the company’s Web site at www.mbna.com or Bank of America’s site at www.bankofamerica.com.

About MasterCard PayPass and Maestro PayPass:
PayPass is MasterCard’s ‘contactless’ payment feature, which provides consumers with a fast and convenient alternative to cash for their everyday small purchases, such as public transport tickets, coffee, sandwiches or fast food, petrol and others. It can be added to any MasterCard credit, debit or prepaid card, or to a Maestro debit card. PayPass allows merchants to function more efficiently and serve their customers better. PayPass speeds consumers through the check-out process, reduces cash handling, improves efficiency and provides competitive differentiation.

As of Q4 2007, there are over 23 million PayPass cards and devices in use at more than 95,000 diverse merchant locations globally, including Major League Baseball and National Football League sports stadiums in the US; fast food outlets McDonald’s, Burger King and Starbucks; convenience stores 7-Eleven, CVS and Duane Reed; Coca-Cola Enterprises’ vending machines and New York City subway and taxis. PayPass is currently being trialled or rolled out in 24 countries, including France, Italy, Switzerland, Spain, Canada, Korea, Taiwan and the United States. For more information about MasterCard PayPass and Maestro PayPass, visit www.mastercard.co.uk/paypass.

About MasterCard Europe
MasterCard Europe is the entity responsible for managing MasterCard Worldwide’s business in Europe, for Europe. With headquarters in Waterloo, Belgium, MasterCard Europe works with 51 European countries organized administratively into three customer areas, incorporating the Single Euro Payments Area (SEPA), mature markets and the developing markets of Europe, stretching as far afield as the eastern border of Russia. Through its network of local offices, MasterCard Europe can understand and meet the diverse needs of customers in the very different types of markets throughout Europe, enabling people to do business in their own way in their own language.

Through MasterCard Worldwide, MasterCard Europe offers its European customers and consumers access to leading payment services throughout the world. MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information, go to http://www.mastercard.com.