2003 Press Releases

MindArk Offers Secure Alternative Payment Method to Gaming Market Via PaymentOne Solution

San Jose, CA — July 7, 2003 — PaymentOne, the leader in payment solutions and strategies for the Internet, today announced that MindArk, maker of massive online virtual reality world Project Entropia, is now offering PaymentOne's PhoneBill ™ as an alternative payment option for Internet services.

In a gaming industry with an average consumer age between 25-35, PaymentOne's PhoneBill ™ solution allows MindArk PE AB's subscribers to join massive multi-player games and purchase services more easily and quickly without having to expose a credit card to the threats of online theft. PhoneBill ™ now allows MindArk customers the convenience and security of billing services directly to their local telephone bill.

"Using PaymentOne's solutions, we are able to address the demands of our customers and build upon PaymentOne's success in billing for the online massive multi-player gaming industry," said Jan Welter, Managing Director of MindArk PE AB. "The use of PhoneBill ™ is consistent with our goal to make it as easy and convenient as possible for Project Entropia participants to enjoy the benefits of the virtual world with millions of others."

Project Entropia is the world's only virtual universe incorporating a real economy with convertible currency. It represents the next generation of interactive entertainment, enabling participants to enter a whole world with realistic three-dimensional environments where millions of users can interact with each online other at the same time. The project has been widely popular, with a strong reception from users and a market penetration surpassing expectations.

"As part of MindArk PE AB's continuing success in marketing Project Entropia, the ability to deliver secure transactions and maintain privacy is a critical element in achieving and maintaining a broad customer base," says Don Teague, vice president of sales & marketing of PaymentOne. "The use of PaymentOne solutions will provide MindArk with an additional competitive advantage in order to attract new players and build upon the success of Project Entropia to date."

PaymentOne's relationships with more than 1,400 independent phone companies across the nation has made their proprietary product, PhoneBill ™, the number one online payment choice for new subscribers of ISP and digital content providers. With PaymentOne's PhoneBill ™, monthly telephone bills have evolved into new credit instruments by allowing customers to charge incremental dollar amounts from Internet services and content providers to their phone bills.

By offering the right payment choices to the consumers, service and content providers can truly optimize their business. Utilizing PhoneBill ™ allows PaymentOne's clients to dramatically increase customer acquisition rates by at least 35 percent, grow revenues and optimize profit margins. A recent study commissioned by Javelin Research & Strategy, EContent Magazine and PaymentOne clearly demonstrates that digital online providers must make payment a strategic priority if they expect to fully monitize their sites and services. This research,along with other third-party studies, validates that PaymentOne's technology is rapidly becoming the number one payment option when shopping online without credit cards.

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