Singapore, 18 October 2001 - mPayment, a specialist mobile payment solutions provider, m-commerce enabler and m-marketing solutions company, today announced a new m-commerce product - mLibrary™. mLibrary is a world first mobile library service and payment product that is fully deployed "live" at National Library Board (NLB)'s 51 public, government & college libraries and 45 community children's libraries in Singapore.

This was announced earlier in the morning at a service launch and MOU signing ceremony between mPayment and NLB. As part of the MOU, NLB and mPayment will jointly market mLibrary product to Asian markets as part of NLB's suite of services.

Mr Seah Moon Ming, Chairman, mPayment, said "We are honoured that NLB has selected our mLibrary product to deliver this value-added service to its 2 million library members. mLibrary is a world-first mobile library service and payment product that is fully deployed "live" at NLB. It delivers to NLB library members the convenience of instant status enquiry and alerts, loan renewals, and where there are outstanding fine payments, to pay the fines before renewing a loan ---- all done by sending a simple SMS using any mobile phone. We will also offer for NLB consideration an additional feature of mLibrary which will allow mobile catalogue search and loan reservations, again using any mobile phone".

mLibrary's mobile catalogue search and loan reservations will enable a library member to send SMS to search for and reserve a book, and collect the reserved book at a conveniently located branch library.

Said Mr Lau Kai Cheong, NLB's Deputy Director, Info Systems & Network, "The NLB always strives to bring the best in advanced technology to enhance our user's library-going experience. This Mobile Service via SMS will be a boon to busy Singaporeans as we provide essential library services at their finger-tips. We are very pleased with the quality and functionalities of mPayment's product, and the service attitude and delivery of mPayment's technical team in undertaking the deployment and integration work according to NLB's requirements".

Daniel Wong, General Manager of mPayment explained, "SMS is today the undisputed worldwide mobile messenger across all countries and cultures, and the ideal medium to offer payment and value-add m-commerce merchant services. Unlike Wireless Applications Protocol (WAP), SMS's popularity and familiarity among all user groups and the fact that it works on every phone, will ensure high adoption among library members".

Daniel added, "mLibrary's renewal function can be used for renewal of magazine and club subscriptions and payment of monthly carpark charges, and its account status query and alert functions can be used for any kind of account enquiry including credit cards, club bills, retailer and petrol chain loyalty points etc. mPayment is in detailed discussion with several customers in Singapore and Malaysia, who have interest to use mPayment's mLibrary, payment and m-commerce products".

mPayment is currently developing mobile marketing, mobile insurance, and other m-commerce products. These products will be deployed in actual merchant sites similar to the successful deployment of mLibrary at NLB.

About mPayment
mPayment is a specialist mobile payment solutions provider, m-commerce enabler and m-marketing solutions company. Started by a team of four young payment and banking security professionals, it holds 4 new patent-pending technologies - mPurse™, mDebit™, mCredit™ and mP2P™.mPayment's mPurse™ is a world-first end-to-end mobile stored-value micro-payment solution fully deployed on an extensive, secure and reliable multi-bank multi-merchant payment infrastructure. mPurse™ enables any mobile phone user to send a simple SMS to mPayment mPurse™ Gateway ("MMG") to authorise and instruct micro- payment from his virtual e-purse account to his designated merchant. mPayment is in discussion with banks and merchant partners in the region and targets to complete and deploy mDebit™, mCredit™, mP2P™ and telco post-paid pilots by January 2002. mDebit™ and mCredit™ will enable a consumer to use any mobile phone to authorise and authenticate his instructions for micro-payments and enable Visa type transactions or direct debit from his account in a participating bank and deliver payment record to a participating merchant. mP2P™ will enable mobile peer-to-peer micro-payments including cross-border transactions. Please visit www.2mpayment.com for more information.

For further information, please contact:

Mr Daniel Wong
General Manager
mPayment Pte Ltd
Tel: +65-325-2636 (Gen)
+65-322-3775 (DID)
+65-96646966 (Mobile)
Fax: +65-227-9013
Email: danielw@2mpayment.com