News from the Wire

InComm,CorFire partner

Thursday, June 30, 2011 — 13:26:09 (EDT)

Atlanta, June 28, 2011 -- CorFire, the mobile commerce business of SK C&C USA and the leading innovator and global pioneer of mobile commerce solutions, announced a strategic partnership with InComm, the leader in prepaid products and an innovator in transaction processing. The partners will deploy a mobile commerce platform that will deliver promotion, loyalty, and general payment solutions to national merchants and their customers. Different from other mobile wallet platforms, the solution works within a merchant-branded environment that gives consumers a wallet experience that is tailored to the specific retailer.

The unique core of the joint offering is made possible by combining InComm's direct point of sale (POS) integration with over 225,000 retail doors and CorFire's long history with mobile commerce platforms in Korea where they currently enable 30 million transactions per day. This foundation enables a transformational approach to mobile commerce where promotions and payments can be securely linked to a consumer and individually processed. When combined with loyalty and gifting, merchants will have a fully functional application that simplifies the consumer's life. InComm and CorFire will target Phase 1 roll out in Q4 of this year.

"This partnership is a pivotal moment for our industry," said Brooks Smith, InComm's CEO. "The relationship between InComm and CorFire makes it easier for our merchants to deliver customer value, such as promotions or 'deals' that can now be linked to, and redeemed by, individual consumers."

"Big brands and national merchants have been asking for a mobile solution that can both tie to a single consumer and scale to millions," said Keith Smith, President of CorFire. "The CorFire-InComm partnership makes this a practical reality via mobile technologies that focus on the needs of the merchants and their customers."

Nick Holland, senior analyst at Yankee Group, commented on the partnership, "The partners' approach to technology will help the merchants deliver additional value to the customer as well as help the industry migrate from existing magnetic swipe technology to next generation technologies such as NFC."

About InComm

InComm is the industry leading marketer, distributor and technology innovator of stored-value gift and prepaid products using its state-of-the-art point-of-sale transaction technology and payment solutions to revolutionize retail product sales and customer experiences. With $13+ billion in retail sales transactions processed in 2010, InComm is the nation's largest provider of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions. InComm partners with consumer brand leaders around the world to provide more than 225,000 retail locations the products and services their customers demand. To learn more about InComm, visit www.incomm.com or call 1.800.352.3084.

About CorFire

CorFire, the mobile commerce business of SK C&C USA, is headquartered in Atlanta with a second office in San Francisco. Poised to lead the mobile lifestyle revolution, CorFire offers mobile technology platforms to financial institutions, mobile network operators (MNOs), payment processors, card issuers, retailers, and other technology innovators that enable delivery of mobile commerce to the mobile phone today. Its three core technology offerings include its Trusted Services Manager (TSM) platform, a robust mobile wallet platform, and a state-of-the-art suite of mobile marketing platform.

SK C&C USA is a wholly owned subsidiary of SK C&C Co., Ltd., a leading global payments technology provider and systems integration company. For more information about our mobile commerce business, please visit www.corfire.com .

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.