NFC Payments: Tapping the Future

NEW YORK, July 12, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

NFC Payments: Tapping the Future

Introduction

NFC Payments Tapping the Future provides an overview of the current state of the global Near Fields Communications payments sector. This includes detailed customer segmentation of likely adopters of NFC, an assessment of some of the key opportunities and threats facing the future of this new payments technology, and key takeaways for issuers who want to harness the potential of NFC.

Features and benefits

Understand what NFC can mean for your business by learning about how it works and its potential applications.

Plan your strategy effectively by learning about key target demographics and who NFC is most likely to appeal to.

Cut through the hype and assess what the latest developments from major players means for your company in the short, medium and long term.

Build your business case by understanding the key hurdles and obstacles that stand in the way of full NFC implementation.

Highlights

The global Near Field Communications market is finally seeing significant commercial launches of hardware and services after years of trials and speculation. However even with significant players such as Google, Apple, Nokia, Orange, and others becoming involved, these launches are more of an evolutionary step than a revolution.

According to Datamonitor's NFC Adoption model only 1.8% of consumers globally are likely to immediately adopt NFC payments once it is released. However a further 12.2% and 31.7% show a medium to low likelihood of immediate of adoption. This suggests that with the right incentives and marketing, the longer term opportunity remains significant.

NFC must overcome significant barriers with issuers, consumers and merchants. In the case of issuers and merchants the business case remains unclear, and investment in services or acceptance hardware will remain subdued as a result. Consumers will require incentives to shift them from existing payment tools.

Your key questions answered

What is the business case for NFC and mobile contactless? How do players involved plan on making money?

What is happening now in NFC? Is it really a revolution in payments?

Who is launching NFC services? What do their models and strategies mean for the payments industry?

Who is likely to be interested in NFC? is NFC suitable for all consumers?

What impact will the hardware have on the NFC market? Is the technology ready?

Executive Summary

An NFC ecosystem is finally emerging

Introduction

Five key findings for the payments industry

NFC is only one of several forms of mobile payment

The NFC ecosystem is being shaped by hardware and services launches from major players

Mobile wallets are emerging as a key battleground in NFC payments

Understanding the NFC consumer

Datamonitor's NFC Adoption Model sizes the target market for NFC

Early adopters of NFC will come from the banked and older age groupings

The initial opportunity in NFC payments lies in meeting the needs of highly likely adopters

The three key obstacles that NFC must overcome

The business case for issuers is weak

The consumer proposition needs to be strengthened

Merchants are skeptical and this is limiting growth in contactless acceptance

OVERVIEW

Catalyst

Summary

AN NFC ECOSYSTEM IS FINALLY EMERGING

Introduction

This report is an objective analysis of the opportunities for NFC in mid-2011

NFC is only one of several forms of mobile payment

NFC sits alongside P2P and m-commerce as a key form of mobile payment

NFC standards are still evolving but the NFC Forum is playing a leading role

NFC technology can be used for more than just payments

The NFC ecosystem is being shaped by hardware and services launches from major players

Commercially available NFC handsets are now in the market

NFC's growth will be driven by the wider use of smartphones, but will take time to reach critical mass

Smartphones are growing as a share of the market

All of the major handset manufacturers have announced NFC models

While the availability of handsets is expanding, developers are still working out what to do with NFC

An NFC version of popular game Angry Birds will act as a showcase for the technology to Nokia customers

Google is opening up some modes to app developers, but not card emulation

Couponing is emerging as a major driver of future NFC use

Mobile wallets are emerging as a key battleground in NFC payments

Mobile operators have made the first moves in developing mobile wallets

UNDERSTANDING THE NFC CONSUMER

Datamonitor's NFC Adoption Model sizes the target market for NFC

The NFC Adoption Model identifies three target consumer groupings for NFC based on current behavior

Early adopters of NFC will come from the banked, and older age groupings

Less than 2% of consumers are highly likely to adopt NFC payments immediately

The number of consumers with a high likelihood of adoption is limited in all countries

The initial opportunity in NFC payments lies in meeting the needs of highly likely adopters

Highly likely NFC adopters are over the age of 25

Likely NFC adopters hold secure employment and make more money

THE THREE KEY OBSTACLES THAT NFC MUST OVERCOME

Introduction

The business case for card issuers is weak

The secure element remains up for grabs and is central to the future NFC business model

This complexity has also led to a growing role for third-party trusted service managers

The business case is mainly focused outside of both merchants and issuers

The consumer proposition needs to be strengthened

NFC will need to be easier, cheaper, faster, and more convenient than existing payment tools

Mobile wallets are the likely driver of NFC convenience

The consumer proposition will need to include incentives

Consumer interest in NFC has not been proven in trials

Japanese uptake of NFC has been weak, and the market is now driving growth through incentives

Many merchants are skeptical and this is limiting growth in contactless acceptance

Most consumers are still not using contactless

Contactless acceptance infrastructure growth is restricted by hardware lifecycles and merchant concerns on interchange

APPENDIX

Additional data

Near field communication (NFC) adoption by country

NFC adoption by demographic status

Consumer use and attitudes to contactless cards

Definitions

Credit card

Debit card

European Payments Council (EPC)

ePurse/eWallet

Interchange

Merchant service charge (MSC)

Mobile network operator (MNO)

Mobile payments

Person-to-person (P2P) payments

Point-of-sale (POS) terminal

Prepaid card

Stored value card

Trusted service manager (TSM)

Methodology

Further reading

Selected bibliography

Ask the analyst

Datamonitor consulting

Disclaimer

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Mobile Telephony Industry: NFC Payments: Tapping the Future

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JHA Payment Processing Solutions Offers EMV Chip-and-Signature Credit and Debit Cards

Embedded microchip enhances fraud protection and supports global interoperability -

MONETT, Mo., July 13, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, today announced that its JHA Payment Processing Solutions^® (PPS) division will offer Visa-branded EMV (Europay, MasterCard, and Visa) chip-and-signature cards to its credit union customers. These cards, which have gained wide acceptance outside the U.S., contain an embedded microchip that provides enhanced fraud protection.

Credit unions serving cardholders who live or travel abroad are the primary market for the EMV chip-and-signature cards. These cardholders will benefit from reduced card-present fraud as well as greater convenience and merchant acceptance. The cards also have a magnetic stripe, enabling their use at any traditional card reader in the U.S. The EMV standard was created to define the functional requirements for both chip card and chip-reading terminals. These standards help ensure global interoperability and enhanced security.

John Postle, general manager of Payment Processing Solutions, said, "Frequent overseas travelers represent an important membership segment for many credit unions. We are pleased to enable our credit union clients to give their members the enhanced service, versatility, and security inherent in chip-and-signature cards. There are only a few institutions in the nation currently issuing microchip cards, and we believe PPS is ahead of the curve and well-positioned to take advantage of the growing demand for this technology."

By offering EMV cards, Jack Henry & Associates is not only supporting overseas travelers but placing itself in the forefront of a security trend that is expected to become a new standard in the U.S. Retailers such as Home Depot, Walmart, and Best Buy are now preparing to support hybrid chip and magnetic stripe cards.

PPS is currently piloting its first EMV card deployment with Star One Credit Union based in Sunnyvale, California.

About JHA Payment Processing Solutions (PPS)

JHA Payment Processing Solutions^® provides payment solutions to the financial industry including ATM, debit, and credit card solutions. These innovative solutions include one of the largest switch processors in the United States, access to one of the credit union industry's largest surcharge-free ATM networks, online real-time transaction authorization and processing, signature and PIN-based processing, in-house and outsourced fraud prevention and detection solutions, cardholder awards programs, card program management and profitability solutions, card manufacturing and personalization, instant issue and activation, marketing materials and programs, and renowned customer service. JHA Payment Processing Solutions are sold to financial institutions regardless of core processing platform, cross sold to the core credit union clients supported by Symitar™, and select products are sold to the core bank clients supported by Jack Henry Banking™. Additional information is available at www.weknowpayments.com.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars^® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs.iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms.  Additional information is available at www.jackhenry.com.

SOURCE Jack Henry & Associates, Inc.

RELATED LINKS
http://www.jackhenry.com
http://www.weknowpayments.com

Banks' Best Customer May Be the Stranger Who Just Walked Out the Door, Says PwC US

NEW YORK, July 13, 2011 /PRNewswire/ -- Industry analysts have estimated U.S. bank revenue to grow by five percent annually, but, according to surveys conducted by PwC US, major regulatory changes and shifts in consumer spending, saving and borrowing behavior are likely to depress revenue growth, increase operating costs, and squeeze profit margins in the retail banking sector, which accounts for one-half of U.S. bank industry revenues.

Regulatory and market-driven forces have created a perfect storm of events that banking executives say will make it more costly to compete and attract new customers.  According to PwC, retail banks are on the verge of a major overhaul as they adjust their growth strategies and business models, including reevaluating the role of branches, incorporating mobile banking, payments and social media and breaking down the organizational, operational and technology barriers that have prevented them from growing organically.

"After years of talking about cross-selling and customer relationship management, many banks still operate in product silos and not based on customer needs.  They still cannot identify who their best customers are, let alone identify appropriate products, pricing, servicing and channels for them," said John Garvey, partner and leader of PwC US's banking and financial services advisory practices.  

Retail banking profitability limited by regulations, changing consumer behavior

In a 2011 PwC survey of CEOs, nearly 90 percent of banking industry leaders cited over-regulation as the biggest threat to their growth prospects. The regulatory changes that will most affect retail banks' relationships with their customers and make it harder to capitalize on growth opportunities include:

• Dodd-Frank, which will restrict fees, increase compliance costs and, potentially, further commoditize banking, making it harder for banks to differentiate themselves. By some estimates, Dodd-Frank will reduce profits by as much as 12 percent over the next five years.

• The CARD Act, which reduces the amount of interest and fee income that banks can collect. Some have estimated that the CARD Act will reduce the average annual income of large banks by $500 million to $1 billion and of mid-tier banks by $50 million to $100 million.

• The Basel III accords, which will more than triple capital requirements for banks, increasing their funding costs.

Other trends can challenge profitability, including changing consumer behavior. Consumers are saving more, spending less and paying down debt. The U.S. personal savings rate, in the low single digits a few years ago, is expected to continue rising, potentially reaching levels not seen since the 1970s and 1980s. While consumer thrift can reduce the demand for debit and credit cards, it offers banks the opportunity to benefit by offering financial planning and related products.

Banks also face the challenge of adapting to the Internet age of "anytime, anywhere, right now" by using social media to better target their customers and mobile technology to respond to their needs faster and more effectively. Already, more than 90 percent of U.S. adults have a mobile phone, and they are increasingly using them for financial transactions. While the numbers are currently small, they will grow rapidly as consumers become more comfortable with these mobile technologies.

The explosion of mobile technology, combined with a surge in the popularity of social media outlets such as Facebook, YouTube and Twitter, gives retail banks a new way to connect with consumers and a mandate to do so: The average Facebook user has 150 "friends," who can hear about a good, or bad, banking experience within minutes.

PwC survey shows difficulty banks face is acquiring new customers

Complicating the challenges that banks face in trying to grow organically is the growing cost of attracting new customers, given how few Americans remain "unbanked." FDIC research indicates that 92 percent of U.S. households already have a checking or savings account with at least one financial institution, leaving little opportunity for banks to attract customers who lack financial servicesentirely.

Moreover, those who already have accounts are not likely to leave. A recent PwC retail banking survey found that more than 40 percent of survey respondents have been customers with their existing primary financial institution for more than 10 years, and that consumers hold an average of 3.3 products at those institutions, providing a measure of "stickiness."

At the same time, there are opportunities. The same PwC survey indicated that, while the average consumer has 6.1 financial products, only about half of them are with the customer's primary financial institution, mainly checking and savings accounts. The other most commonly purchased financial products are more often acquired from financial institutions other than a consumer's primary financial institution: Credit cards (48 percent*), mortgages (57 percent), IRAs (66 percent) and insurance (85 percent). (*Percent of customers who purchase these products from a financial institution other their primary financial institution).

Accordingly, there is significant opportunity for banks to acquire a greater share of their customers' business over an entire financial lifetime, based on life events from opening a first checking account to rolling a 401(k) into a post-retirement IRA.

Competing by breaking down product silos to focus on customers

To address these challenges and capitalize on the opportunities available, banks need to attempt to meet more of their customers' financial needs throughout their lifetimes. Doing so means that banks would have to adopt a more customer-centric focus to better understand and anticipate their customers' needs and preferences.

Adopting such a customer-centric focus is difficult for some retail banks because they are organized primarily around business lines, with products housed in silos. In particular, the silos limit the knowledge any one business unit has about a customer's other accounts with the bank, hindering efficient product pricing, customer segmentation and cross-selling.

Leading banks, including some entering the U.S. market from overseas, are moving beyond product silos to become more customer-centric. PwC identifies three essential strategies for becoming customer-centric: Breaking down product silos and restructuring incentives; understanding customer needs, preferences and behavioral drivers; and, delivering a consistently high-quality customer experience. These strategies can enable banks to move beyond merely "pushing" products to better anticipating customer needs and proactively offering the most relevant products and services.

"While the future of retail banking demands a customer-centric approach, some banks have resisted moving toward this model because of institutional impediments, including internal disincentives, conflicting organizational priorities and concerns about integration complexity and execution risks," said Peter Pollini, principal, financial services, PwC US. "If banks are to make the changes that are necessary to break down product silos and become more customer-centric, they will need assertive leadership from the very top. Nothing less will enable these necessary transformative, organization-wide changes."

PwC's conclusions reflect the findings of two recently released reports – When the Growing Gets Tough: How Retail Banks Can Thrive in a Disruptive, Mobile, Regulated World and Getting to Know You: Building a Customer-Centric Business Model for Retail Banks – which provide an overview of the competitive landscape for retail banking based on proprietary analysis and a nationwide consumer survey.

The PwC report When the Growing Gets Tough: How Retail Banks Can Thrive in a Disruptive, Mobile, Regulated World is available at http://www.pwc.com/us/Mobile-Retail-Banking.

The PwC report Getting to Know You: Building a Customer-Centric Business Model for Retail Banks is available at http://www.pwc.com/us/Customer-Centric-Business-Model.

About the PwC Network

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

© 2011 PwC. All rights reserved. "PwC" and "PwC US" refer to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

This document is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

Related Links:

John Garvey, PwC, on retail banking growth strategies

PwC Viewpoint on Customer-centric Banking

PwC Viewpoint on Mobile Banking

SOURCE PwC

Small World and Choice Money Transfer Combine to Create Leading Global Financial Services Group

LONDON and NEW YORK, July 13, 2011 /PRNewswire/ --

Small World Financial Services Group and Choice Money Transfer today announce that the merger between the two companies has gained the required regulatory approvals and has successfully completed.  The closing of this transaction creates one of the world's largest money transfer organisations.

The combined new combined entity, to be known as the Small World Group, trades across Europe and North America, processing in excess of 600k transactions per month and with a payment network in excess of 150,000 locations.

"This transaction catapults us into the top tier of global remittance players," said Nick Day, Group CEO at Small World, "while creating substantial synergies and opening up new geographic markets and corridors. The combination of our global payment networks and deployment of our advanced technology platform will greatly accelerate our growth trajectory."

Kevin Neuschatz, the CEO of Choice Money Transfer, will also become Commercial Director of Small World. Kevin said, "I look forward to working with Nick and Small World, and to leveraging the benefits of our combined technology platform to drive sales and bring our outstanding service to more customers around the world."

About Choice Money Transfer

Choice Money Transfer Inc. is a fast growing provider of consumer money transfer services committed to service excellence, regulatory compliance, and sound management principles. Choice Money Transfer has a network of correspondents in over 45 countries throughout Africa, Asia, Latin America, and Europe. For more information, visit http://www.choicemoneytransfer.com.

About Small World Financial Services Group

Small World Financial Services Group is the largest independent money transfer company in Europe. It provides global consumer-to-consumer money transfer services through a sending network of agents and Company-owned stores, disbursing money transfers through a worldwide payer network in 90 countries, as well as disbursement to bank accounts and mobile wallets. In addition to money transfer, Small World provides telephony services, insurance products, prepaid debit cards, and cheque cashing. For more information, visit http://www.smallworldfs.com.

SOURCE Small World Financial Services Group Ltd

Ground Labs and Veritape Partnership Keeps Contact Centers Secure and Reduces Fraud

Image via CrunchBase

LONDON, July 13, 2011 /PRNewswire/ -- Veritape and Ground Labs are pleased to announce a partnership which will improve PCI DSS compliance for call center customers.

Ground Labs is renowned for Card Recon and Enterprise Recon, its cardholder data discovery software solutions for PCI DSS compliance. UK-based Veritape is a leader in the field of contact center PCI DSS compliance for call recordings, through its CallGuard products. The partnership will ensure that customers of both organizations will be able to further descope their call center operations from PCI compliance and remove card data from their environment.

CallGuard, introduced to the market in 2010, has proven to be a significant development in the area of PCI DSS compliance for recorded telephone calls. It works with any call recording system and makes recorded calls fully PCI DSS compliant by removing sensitive cardholder data. Historically, contact center operators have found this difficult to do. Stephen Cavey, Director of Corporate Development at Ground Labs, says, "When choosing to work closely with a partner we must ensure they are market leaders in their respective product category. Veritape's CallGuard solution is a clear leader in contact center solutions by providing the ability to eliminate cardholder data from contact center agents' screens and call recordings, eliminating the possibility of fraud. Working with Veritape to combine our respective capabilities offers call centers a rapid path to achieve ongoing PCI compliance."

Ground Labs' Card Recon and Enterprise Recon solutions are powerful tools that will accurately detect cardholder data stored within contact center environments. Contact centers typically accept payment via telephone, email and by fax. Ensuring that cardholder data is identified properly, and then stored securely, is a constant challenge in this environment. Cameron Ross, Managing Director of Veritape, explains, "We first met with Ground Labs at the PCI London conference in January this year and were immediately impressed. Since then, we have worked closely together, on a number of initiatives and opportunities, to introduce their technology to our customer base. Many of our customers have asked for a simple, effective method of finding all card data in their environment. Ground Labs are the market leaders in this area. The Card Recon and Enterprise Recon solutions help our customers make sure that they are correctly handling sensitive data under the PCI DSS requirements. "

The partnership between Ground Labs and Veritape includes the introduction of both companies' technologies to each other's customer base and also encompasses development work on additional products. Cavey says, "Veritape's technical development on our shared product pipeline is impressive, and we are excited at the prospect of working together to deliver secure cardholder data solutions to the contact center industry."

About Ground Labs

Ground Labs is a global leader in the development of security and auditing software solutions for the payment card industry. Its flagship products, Card Recon and Enterprise Recon, identify data storage risks on thousands of computer systems worldwide, helping companies prevent security breaches that result in the theft of customers' credit and debit card numbers. For more information and product demos, visit http://www.groundlabs.com.

About Veritape

Veritape specializes in developing powerful PCI DSS compliant call recording software solutions and we are the only call recording company accredited as a PCI DSS Participating Organization. Our CallGuard technology makes recorded calls fully PCI compliant; quick to implement, it works with any call recording system. Veritape call recording software delivers a cost-effective and flexible alternative to traditionally expensive fixed hardware call recording solutions. Clients include Jaguar, CPM, Exodus Travel, Intasure, PhotoBox and Mobile Mini. For more information, visit http://www.veritape.com.

Ground Labs to Present Cardholder Data Discovery Innovation at ISSA-UK CISO's Den

LONDON, July 12, 2011 /PRNewswire-Asia/ -- Ground Labs, the creator of Enterprise Recon and Card Recon, will present insights on it's unique cardholder data discovery technology at an Information Systems Security Association (ISSA) event in London.

This year, ISSA's annual themed Security Day is titled "Security Innovations" and will be held on Thursday, July 14 aboard the HMS President on the River Thames in London. ISSA-UK members and non-members are invited to attend the event, where they will learn about innovative security solutions in the market. Michael.W.Boyer, Director of the Regional Computer Emergency Response Team (RCERT) – Europe, and Ira Winkler, President of the Internet Security Advisors Group (ISAG) will also present at this informative, fast-paced event.

As part of participation in the event, Peter Duthie, Chief Architect of Ground Labs, will offer a presentation titled "Cardholder Data Discovery: A New Hope". Scheduled for noon in Vendor Dragons Den 2, his presentation will provide some detailed technical insights into Ground Labs' approach to cardholder data discovery and explain many of the shortcomings encountered when attempting to use traditional methods for this critical task.

Mr. Duthie explains that the process of achieving accurate cardholder data discovery with low false positives involves a multi-layered approach combining a variety of advanced pattern matching techniques. "Traditional data discovery methods using typical regular expression approaches are not capable of achieving the level of accuracy needed for critical auditing purposes" said Mr. Duthie, "This was a major challenge that Ground Labs' cardholder data discovery technology was designed to address and forms the foundation of our Card Recon and Enterprise Recon solutions for PCI compliance"

"As the importance of performing thorough cardholder data discovery is recognised as a critical step when complying with the PCI DSS, it is becoming equally important to ensure organisations choose solutions capable of achieving the accuracy and scanning depth required for audit purposes" said Stephen Cavey, Director of Corporate Development for Ground Labs. "This event offers a rare opportunity to communicate in a highly technical forum some of the unique innovations that have defined Ground Labs as the industry leader for discovery of cardholder data within emails, databases, documents and various other data-at-rest locations."

Other presenters at the event will include Qualys, Tripwire, Splunk, Sourcefire, Venafi, Top Layer, Exonar, Wave Systems, and Virtuous Networking.

Additional information about ISSA-UK CISO's Den, Security Innovations, is available online at http://tinyurl.com/3cj4p7b.

About Ground Labs

Ground Labs is a global leader in the development of security and auditing software solutions for the payment card industry. Its flagship products, Card Recon and Enterprise Recon, identify data storage risks on thousands of computer systems worldwide, helping companies prevent security breaches that result in the theft of customers' credit and debit card numbers. For more information and product demos, visit www.groundlabs.com.

OfferMobi Celebrates One-Year Anniversary; Announces 3 Million Conversions on its Mobile Performance Ad Platform

Growth of 11,000 mobile publishers, impressive advertiser and click growth, and Beta launch of App Discovery Network are among key milestones that have defined the first year for the leading US-based mobile performance ad network

NEW YORK, July 12, 2011 /PRNewswire/ -- OfferMobi, the first and leading US-based performance marketing ad network for mobile advertising campaigns, today announced several milestone achievements that the company has reached since its launch one year ago.

Some of the most notable milestones that OfferMobi has achieved in its first year in the mobile performance-advertising space include:

• Publisher Growth: OfferMobi has added more than 11,000 mobile publishers and App developers over the past year since the company's launch.  Leading mobile web publishers, mobile social networks, and App developers across the iOS and Android platforms are monetizing their mobile traffic with offers from the OfferMobi network.  

• Client Growth: More than 90 advertising partners have partnered with OfferMobi  over the past 12 months, fueling rapid expansion.  Clients include CUnet, FlirtyMob, MobiTrans, and other leading players from the mobile, direct response and lead generation industries.  Advertiser conversions (actions) to-date have passed the 3 million mark and are scaling quickly.

• Clicks Growth: Since the company's launch last year, the number of clicks on the OfferMobi network has hit the 30 million mark. The company's offers are running across 850 million mobile ad impressions each month. As OfferMobi moves into the second half of 2011, the company is on track to reach one billion monthly mobile ad impressions served for its offers.

• New Vertical Expansion: The OfferMobi mobile ad network is currently running  more than 100 offers live for its advertisers in a growing number of vertical markets. Since its expansion to the education, dating, and entertainment sectors, OfferMobi has continued to grow its network to service new advertisers in several other industries, including home improvement, automotive, prepaid debit cards, the home refinancing sector, and other vertical markets.

• App Discovery Network.  The company recently launched the Beta version of its App Discovery Network™ platform available to both Android and iPhone developers, which enables mobile app developers to increase attention and drive high quality installs of their apps with a unique Non-Incentivized Cost-Per-Install (CPI) model.

"The continued growth of our performance-based mobile ad network  validates our business model and is a testament to our service and commitment as we continue  to provide more mobile advertisers, publishers, and developers with real world results through our performance-based platform for their mobile ads," said Mark Roth, OfferMobi CEO. "As we move into our second year, our goal is to continue to meet the increasing needs of publishers and advertisers on our platform so they may continue to derive maximum ROI from their mobile campaigns. We continually strive to enhance our platform to provide superior results in the mobile marketing ecosystem."

The OfferMobi platform has received acclaim in mobile advertising circles for its unique model as the first performance marketing network in the US focused solely on mobile campaigns. The OfferMobi model is based entirely on performance metrics  and not the traditional Cost per Click (CPC) or Cost per Thousand (CPM) model that has defined the mobile ad network for the past decade. Advertisers that partner with OfferMobi pay only for an action -- such as a lead generated, a subscription secured, a newsletter signup, an SMS list opt in, an App download -- that they want the end-user to take.

OfferMobi has been recognized for its groundbreaking business model in several industry-leading publications includingTechCrunch, Investor's Business Daily, Yahoo! News, MediaPost, Mobile Marketer, and hundreds of other influential media outlets. The company has also exhibited at some of the largest mobile and online advertising events of the year including Ad:Tech, Leadscon, Affiliate Summit, and Digiday Mobile,  and sponsored events such as MMA's Mobile Marketing Forum and DMA's Mobile Marketing & Media Conference.

For more information on OfferMobi, including a listing of customers, service offerings and recent company news, visit www.OfferMobi.com.

About OfferMobi:

OfferMobi is the first USA-based mobile affiliate network. Launched in early 2010, OfferMobi has amassed a loyal following of over 11,000 mobile publishers who are seeking performance based commissions from ad campaigns they can run in mobile advertising channels. OfferMobi acts as both an agency and a performance based network for advertisers who wish to promote their mobile enabled website, App, or click to call/pay per call campaign. OfferMobi works with mobile publishers who own  leading mobile destinations, popular App owners and other mobile ad networks to increase the revenue they earn from their mobile ad inventories on a performance basis. For more information, visit www.offermobi.com.