String of Firsts and Market Entries in 2009 Establish Network for Growth, Enable Financial Access for Millions

AUSTIN, TX, March 10, 2010 – Rêv Worldwide, a global payment company for underserved markets, today announced it has expanded its global presence by establishing operations in North America. Based in Austin, Texas, Rêv Worldwide will develop, operate and market integrated prepaid card and mobile payments programs for partner financial institutions, telecommunications firms and merchants throughout the U.S. and Canada. The company expects to launch programs in the U.S. this year.

The announcement follows strong performance in 2009 across the Rêv Worldwide network of companies –including market entries in Romania, India and Kosovo – that positions the group to reach millions of underserved consumers around the world with accessible, affordable financial services, many for the first time. Together with its current operations in Australia and Mexico, Rêv Worldwide’s combined market presence now represents more than 650 million underserved consumers, according to available figures.[1]

With the expansion, Roy Sosa assumes overall leadership for the group of companies as CEO of Rêv Worldwide. Bertrand Sosa will lead the network’s expansion into the U.S. market as President of Rêv Worldwide’s North American operations. The Sosas are the founding partners of MPOWER Ventures, the primary investor behind Rêv Worldwide, and will serve in dual leadership roles, focusing primarily on steering Rêv Worldwide through a period of rapid growth.

“These early wins underscore the power we see in the combination of prepaid cards and mobile phones not only to provide a safe, affordable and convenient home for consumers’ funds but also to overcome historical impediments to delivering financial services in hard-to-reach markets where they’re most needed,” said Roy Sosa, CEO of Rêv Worldwide and founding partner of MPOWER Ventures.  “With this model in place in such diverse parts of the world, we believe it has as much power to accelerate the expansion of financial services at home as elsewhere in the world.”

Rêv Worldwide’s 2009 market entries mark a series of industry firsts. In Europe, it debuted the first prepaid cards in Kosovo, opening the door to the financial mainstream for Kosovars who can use the cards to send money domestically, top up their IPKO mobile phone accounts or check balances with a simple text message, no bank account required. In Romania, Rêv introduced the first prepaid card to allow Romanians to send money domestically from their mobile phones. And in India, Rêv launched the first payment card in the market available without a bank account or credit card and the first MasterCard payment product in India available outside a bank branch with its virtual card product.

“With Rêv Worldwide, we set out to build a company that could help partners access new markets and customers access the opportunities that come with participating in the financial mainstream,” continued Sosa. “It’s clear from Rêv’s swift progress that the opportunity it has to accomplish that goal is real and rapidly growing, and we are committed, as with all our investments, to providing  the focused leadership necessary to see it through.”

In other notable achievements by Rêv Worldwide in 2009, the companies formed partnerships with premiere financial institutions, telecommunications companies, merchants and distributors around the world, including Raiffeisen Bank, a leading bank in Central and Eastern Europe; IPKO, one of Europe’s fastest growing telecommunications firms; and Central Bank of India, the country’s largest public sector bank. Rêv Worldwide was also named the global card and payments industries’ “Most Promising New Entrant” by Cards International for outstanding innovation.