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Ixaris Announces Three Paylets at Web 2.0 Summit Paylets Enable the Rapid Creation of Secure, Compliant and Flexible Payment Applications

SEATTLE, Nov 12, 2010 (BUSINESS WIRE) -- Ixaris, an innovator in global electronic payments, will debut three Paylets at Web 2.0 Summit in San Francisco: Opn Virtual Card, Opn Customer Connect and Opn Fund Forward. Designed for developers using the Ixaris Opn (pronounced 'open') payment platform, Paylets enable the rapid creation of secure, compliant and flexible payment applications. At Web 2.0 Summit, Ixaris will demonstrate Opn and invite developers to participate in its upcoming beta program.

Ixaris Opn is the only open payment platform that works with Visa, MasterCard and SWIFT for both outbound (card issuing, money transfers) and inbound (card acquiring, bank payments) purposes. Leveraging this capability, Paylets are reusable software components that have been pre-configured to support a range of payment patterns, delivering payment capabilities such as card issuing, money transfer and multi-party transaction coordination through publicly available APIs.

Paylets to be announced at Web 2.0 Summit include: Opn Virtual Card -- The Virtual Card paylet makes it easy to issue a virtual Visa card to end users. The card is delivered on screen with a 16-digit card number, 3-digit security code and expiry date -- the card can be used online anywhere Visa is accepted. Virtual cards are totally brandable, can be issued in multiple currencies, and can be configured to specify how a user can use their card Opn Customer Connect -- The Customer Connect paylet enables businesses to send payments to customers worldwide instantly and cost effectively. The payment can be sent individually, by batch or in real-time through a web-service interface. Recipients receive the payment instantly and in the currency of their choice -- EUR, GBP or USD -- and can be retrieved on a virtual card, physical card or sent to the recipients bank account. Opn Fund Forward -- The Fund Forward paylet offers P2P payments worldwide -- allowing your users to send and receive funds with other users. The paylet can be embedded within broader applications such as settlement dues, donations, or sending person-to-person payments (i.e., sending money to family members).

Through a number of banking and technology partnerships, most recently with Apigee, Ixaris has created an industrial-grade API platform that will manage all facets of the payment lifecycle, including fraud and compliance oversight.

Developers using Paylets such as these are able to create customizable, brandable and combinable payment applications without the cost, complexity or time constraints of developing these functionalities from scratch.

"Visa and MasterCard estimate that 50 percent of their payment program opportunities fail to make it to market because of the complexity and cost of developing payment applications," said Alex Mifsud, Ixaris CEO. "Ixaris wants to make creating and running payment apps fast and easy, enabling businesses to incorporate customized payment processes within their products and capture a share of the $220 billion currently generated by payment-related fees in the U.S. and Europe." Visit Ixaris at Web 2.0 Summit -- November 15 to 17, 2010, San Francisco -- Pod number 3 Increasing the visibility of rapid payment application development, Ixaris will be a Silver Sponsor at Web 2.0 Summit, November 15 to 17, 2010. At the show, Ixaris will be demonstrating the Ixaris Opn platform and explaining how developers are able to create and run their own global payment applications using open-loop virtual or physical cards under the Visa and MasterCard schemes.

Developers interested in building payment applications on Ixaris Opn should contact Ixaris or stop by the booth for information on how to participate in the upcoming Ixaris Opn developer beta. The event is being held at the Palace Hotel in San Francisco, California.

About Ixaris Ixaris specializes in developing innovative global applications based on open-loop (Visa and MasterCard) prepaid card schemes.

Ixaris' consumer payment service, under the EntroPay brand, currently manages financial transactions exceeding US$15 million per month. With more than 100 clients, Ixaris offers a range of co-branded payment applications that enable enterprises within the healthcare, travel, affiliate marketing and financial services industries to capitalize on the growing market for prepaid payment solutions through cost-effective, easy-to-access global payment networks including Visa, MasterCard and SWIFT.

Ixaris has offices in London, Seattle and Malta, which provide operational, customer service and fraud management. It is recognized by Visa and MasterCard as an independent sales organization. Ixaris is also certified by the U.K.

Financial Services Authority to issue e-money, and is registered in the U.K. as a Money Services Business. Ixaris' financial service partners include Royal Bank of Scotland, Barclaycard, Transact Network and Bank of Valletta.

Ixaris is a privately held company funded by leading U.K. institutional investors. Its corporate headquarters are in London. http://www.ixaris.com/ SOURCE: Ixaris CONTACT: M2L2 Communications Matthew Lloyd, 617-834-3146 E: matt@m2l2communications.com or UK Press Contact: Hotwire Susan Golaszewski, +44 (0)20 7608 2500 E: ixaris@hotwirepr.com Copyright Business Wire 2010 -0- KEYWORD: United States

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