SAN FRANCISCO, December 16 /PRNewswire/ --

- Former VISA EVP to Lend Savvy to Innovative Online Payments Provider

Paymo, the trusted mobile payments network that allows consumers anywhere
in the world to buy online and pay with their mobile phone, today announced
that former VISA executive Jon Prideaux has joined the company as a senior
advisor, responsible for helping the company develop a global standard for
payments made through mobile phone accounts.

Paymo, which will launch its service to U.S. consumers in the first
quarter of 2009, has developed a payment service that lets anyone with a
mobile phone easily make online purchases by charging to their mobile phone
rather than a credit or debit card. By using Paymo, online merchants will for
the first time be able to generate net new revenue by selling to the billions
of people around the world who do not have a credit card.

"Jon Prideaux's tremendous experience developing global payment products
will be invaluable to Paymo as we build our global network," said Paul
McGuire, CEO and co-founder of Paymo. "Paymo is building the first global
payment network that anyone can use, even if they don't have a credit card.
We're serious about building a trusted, dependable service that merchants and
customers will love, and being able to draw on Jon's expertise will be
critically important."

During a 17-year career at VISA, during which Prideaux was responsible
for marketing and new products, he helped to design the global business rules
for the company and oversaw the development of several Internet-facing
products, including the Verified by VISA program for securing Internet
transactions. Prideaux will draw on his broad knowledge of the payments
industry, to advise Paymo about product development, technology and
marketing.

"I have been asked to get involved with many new payment products over
the last few years, especially in the mobile space; frankly mostly of them
will fail," said Prideaux. "What really excites me about Paymo is the way its
high leverage approach gives it a serious opportunity to scale. When I
started at VISA in Europe it was a fifty person operation -- I think that
Paymo has the potential to be the VISA of mobile payments."

Before VISA, Prideaux held a number of technical and sales positions at
IBM.

For more information about Paymo, please visit http://www.paymo.com.

About Paymo

Paymo is the trusted mobile payments network that allows consumers
anywhere in the world to buy online and pay with their mobile phone. More
than 70 percent of the world's online population has no credit card, but over
3 billion consumers own a mobile phone. Paymo opens the world of online
commerce to these people, offering them the ability to buy online and pay
using their mobile phone. Paymo simplifies and streamlines the e-commerce
process for digital items such as virtual goods, video games, and
applications for social networks and mobile devices. Paymo provides a trusted
global payment system for online purchases that is fast, easy and secure. The
company is led by executives with vast industry and international experience.
The company's payment solution is available globally and is currently live in
39 markets.