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Payment Exchange is pleased to announce the closing of a deal with Bank One: both parties have
jointly signed an Agreement which officially designates Payment Exchange as the bank's Processor.
 
Bank One is slowly but surely marking the banking space in Mauritius. Acknowledging that today
banks have to provide significant value add in order to maintain a competitive edge, the bank
plans to issue credit cards to its customers in the third quarter of 2009. To achieve this,Ba
nk One has made the smart move of outsourcing its card operations to Payment Exchan
ge. Bank One was represented by Raj Dussoye,Chief Executive Officer and Dhinoo Vee
rasawmy, Chief Operating Officer, whereas on PEX side ,Dhaneshwar Damry,Chair
man, and Sailesh Sewpaul, Chief Executive, signed the contract.
Formerly known as First City Bank Ltd, the bank changed hands on the 22nd
February 2008,when CIEL Investments Limited(one of the leading financial
groups in Mauritius) and I&M Bank Limited (one of the leading banking
institutions from Kenya) jointly acquired the First City Bank Ltd on a 50
- 50 shareholding basis. Bank One has a clientele base of over 370
00 The bank presently offers International Cirrus/Maestro Debit ca
rds and has a local network of 14 ATMs, which it plans to incre.
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ase Payment Exchange has, in order to deliver a premium level of service and support for payments
processing, purchased a complete, packaged solution from ACI Worldwide, a leading provider of
application software for electronic payments.The service will include card issuing and manageme
nt, card acquiring (including device driving and switching),card issuing, clearing and settlement.
Mr. Raj Dussoye, Director and Chief Executive Officer of the Bank, has a broad based experie
nce of over 25 years in the banking industry and has witnessed the quality, availability and
reliability of ACI solutions. Mr Raj Dussoye is confident that Payment Exchange, a domestic
entity where expertise is readily available, backed by state-of-the-art technology from ACI
Worldwide, is the right choice.
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©2009 Payment Exchange International. All Rights Reserved
Privacy Policy  | Terms of use  | Contact us
Press Release
 Payment Exchange Group [PEX] facilitates the launch of M-Payment by Emtel
Ebene, 28 July 2010 - Payment Exchange Group (PEX) has today announced its
association with Emtel for the rolling out of a new mobile payment service which
  allows Emtel customers to pay their bills through a simple text message.
 
 Mobile Payment refers to any transaction with monetary value that is conducted
via a mobile telecommunications network. Players from all economic sectors
 are anticipating that mPayment will increase customer acquisition and
  retention and generate new revenue opportunities. PEX acquiring infrastructure allows transactions to be
   initiated through mobile phones.
 
"We are glad to see Emtel taking advantage of the capabilities of our technological solutions to introduce
another innovative product in the market" said Sailesh Sewpaul, the CEO of PEX. "We are sure that
Emtel will prop up on the suppleness of our solution and our skilled personnel, to further enhance
their mPayment value proposition in the very near future."
 
The Chief Executive of Emtel, Mr. Shyam Roy said "Emtel Ltd is the leading innovator in
 technology and service in Mauritius. With its GSM,3G,HSDPA and WIMax networks,
it provides a one-stop-shop for all telecommunications needs in Mauritius, such as
mobile, international and data. In its constant lookup of ways and means of making
life easier for the consumers, Emtel is pleased to announce its partnership with
PEX for the launch of the first mobile payment concept in Mauritius."
 
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 About Payment Exchange
Payment Exchange (PEX) was founded in 2008 and is the first Third Party processor in Mauritius. PEX offers high-level expertise in all
areas of e-payment, provides banks, the retail industry and financial institutions with complete certified solutions to SmartCard
technology.
 About Emtel
Emtel Ltd became the first mobile telephony operation in the whole Southern Hemisphere in 1989. This major step in
Mauritian telecommunications history was the fruit of the collaboration of two pioneering groups � The Currimjee
Jeewanjee Group, one of the foremost groups in Mauritius, and Millicom International Cellular (MIC) S.A.,based in
Luxembourg.
 
 For further information, please contact:
Mr. Sailesh Sewpaul                  5B1, Cyber Tower 1
Group Chief Executive                  Ebene
Payment Exchange Group                Phone: 465 1001
 
 
 
 
 
 
 
 
 
 
 
 
 
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