Credit identity protection technology provider MobiClear Inc. (OTCBB: MBIR, Deutsche Brose: B3CA) rose 15 percent today, hitting 6 cents a share after the company announced it had entered into a partnership agreement with fraud management software manufacturer Bastion Payment Systems Corporation.
According to the statement, Bastion will market and launch MobiClear’s “exciting line” of security solutions to market-lending financial institutions in the Philippines and other Asian countries.
“The banks have expressed great interest in the product’s ease of implementation, cost-effectiveness, and the ability to be brought to market in a timely fashion,” the statement said.
MobiClear reportedly specializes in electronic Personal Identification Verication (PIV) solutions, specifically those involving credit and debit card transactions. MobiClear estimates that credit and debit card fraud both in and out of the Internet is growing to $20 billion annually and is fast becoming the most prolific form of fraud theft in the U.S.
Bastion Payment CEO Wilfred Tan felt that this merger was an excellent move for both parties.
“We are happy to be working with MobiClear in launching an innovative, unique and secure identification system for online banking and e-commerce transactions,” Tan said. “The market is poised for the additional powerful transaction security measure that MobiClear has developed. Further, we feel MobiClear’s product offering will nicely complement Bastion’s existing and future fraud management products and initiatives.”
Anders Ericsson, the CEO of MobiClear, was also excited about the team up.
“It is such a great opportunity to be working with an established and highly reputable company like Bastion,” Ericsson said. “We believe their network of banking relationships in the Philippines and Asia, as well as a successful portfolio of payment systems projects, provides MobiClear with an ideal platform for launching our products in that region.”
We are Bastion Payment Systems Corporation, a world-class It Company. We provide cutting edge, state of the art software tools and services for fraud management, credit card acquiring and issuing systems, and performs other related services and support. As a third party processor and solutions provider, our values lie in the ability to develop, operate, and supply effective software systems and give superior customer service to our clients. The primary markets we serve are ISOs, IPSPs, and other institutions worldwide which require our specific brand of expertise and services. We partner with other top tier vendors and suppliers to make sure our systems are continuously evolved to meet the changing needs of our clients and the market. Our personal service is what differentiates us from our competitors. We take pride in our work, and as a company, we provide our clients 24x7 support, 365 days a year to make sure their business is as secure and reliable as humanly possible. Thru Service, Reliability, Speed & Security, Bastion Payment Systems Corporation becomes the next generation in solutions computing. |
