cMoney Beta Solution Revealed

cMoney, Inc. (OTCBB:CMEY), is a Houston-based company that is at the forefront of global mobile phone-based payments and money transfers, while using the POS and ATM payment systems. The cMoney solution utilizes secure patent pending technology for mobile phone users, retailers, and financial institutions, and continues to innovate and strengthen the cMoney brand globally. cMoney is very pleased to announce the latest developments with regard to the completion of our beta product and the finalization of the pending patents.

The cMoney beta product is an essential tool to showcase our technology to investors, potential strategic partners, or to form a trust relationship/alliance, with a major industry leader. The cMoney beta product reveals to interested parties; like our previously announced partnership with IBM, that cMoney is a major player and has a working product available to both the prospective partners and to the customers.

A new round of funding has been provided by a private cMoney investor that finalizes the beta enhancements to our existing cMoney solution, while incorporating our licensed pending patents. Major technology leaders have expressed a great deal of interest in the original beta product and were even more excited about the concept of an advanced application. cMoney has contracted with a major international technology developer, to help design and assist in the deployment of the cMoney product. The new cMoney team continues to gain momentum and explore these wonderful business opportunities with many of our prospective partners; who will offer this exciting product to their own customer base.

Techniques are disclosed for a mobile telephone, in conjunction with a payment transaction server, to be used directly as a payment device for a variety of financial transactions. Furthermore, the transaction systems and methods for mobile telephone devices will allow a mobile telephone to participate in payment transactions in a manner that helps prevent identify theft; and without relying on transferring amounts to/from one stored value account to another. cMoney now wants to disclose the full details of our patents below, including the URL references.

Ghosting Payment Account Data in a Mobile Telephone Payment Transaction System- this operation includes generating a ghosted account name for each of the payment accounts and transmitting each ghosted account name to a payment application executing on the mobile phone.

The payment application, when executed on the mobile telephone, allows the individual to initiate a payment transaction using the mobile telephone as the payment device in order to incur a charge to a selected payment account without revealing the account number associated with the selected payment account.

http://www.wipo.int/patentscope/search/en/detail.jsf;jsessionid=D37435FE4E4EF4145F23BA11D8C8198F.wapp2?docId=WO2009146110&recNum=102&office=&queryString=&prevFilter=%26fq%3DOF%3AWO%26fq%3DICF_M%3A%2522H04W%2522%26fq%3DDP%3A2009&sortOption=Relevance&maxRec=3119

Transaction Server Configured to Authorize Payment Transactions Using Mobile Telephone Devices- this operation includes receiving a request to enroll a mobile telephone in a payment transaction system. The request may include an indication of an identity of an individual enrolling the mobile telephone and the telephone number of the mobile telephone. The operation may also include establishing a bank account for the mobile telephone. The bank account is tied to both the individual and the telephone number of the mobile telephone received with the request. The operation may also include providing a payment application for installation on the mobile telephone. The payment application may be configured to allow the individual to initiate payment transactions using the mobile telephone as the payment device when installed and executed on the mobile telephone.

http://www.wipo.int/patentscope/search/en/detail.jsf;jsessionid=B589A189236B30169B0F09EFA3201E85.wapp2?docId=WO2009146106&recNum=104&office=&queryString=&prevFilter=%26fq%3DOF%3AWO%26fq%3DICF_M%3A%2522H04W%2522%26fq%3DDP%3A2009&sortOption=Relevance&maxRec=3119

Mobile Telephone Transaction Systems and Methods- this operation includes receiving a request to initiate a payment transaction using the mobile telephone as the payment device, prompting a user of the mobile telephone to specify a payment source for the payment transaction, and transmitting the request to initiate the payment transaction and the specified payment source to a transaction server. The operation may further include receiving a payment code from the transaction server and displaying, on a display screen of the mobile telephone, a representation of the payment code. The representation of the payment code is presented to a point-of-sale system of a merchant participating in the payment transaction. The point-of-sale system may generally be configured to transmit an indication of the payment code and a transaction amount to the transaction server. Further, the transaction server itself may be configured to perform the payment transaction using the specified payment source for the payment amount.

http://www.wipo.int/patentscope/search/en/detail.jsf;jsessionid=1565927E284C399E8951579621FF5A92.wapp1?docId=WO2009146111&recNum=62&office=&queryString=&prevFilter=%26fq%3DOF%3AWO%26fq%3DICF_M%3A%2522G06Q%2522%26fq%3DDP%3A2009&sortOption=Relevance&maxRec=2168

All pending patents were developed by Jennifer Pharris, the founder of cMoney. The finalization of these individual pending patents will allow cMoney exclusive rights to this technology for the United States and Australia.

Paul Matthews, cMoney CEO, states: “I feel very confident that our development plans including this beta announcement of incorporating our patent pending technology, will ensure that cMoney continues on the right track to our Hard Launch. cMoney’s combination of the new technology team and the new transfer agent, ClearTrust LLC, are helping enormously to ensure that our administration and support are in place, as we continue to “Move Money at the Speed of NOW”!

About cMoney, Inc.

cMoney, Inc., a Houston-based technology company that provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions, has developed an innovative way to send money and pay for goods and services using a mobile phone and the text messaging system protected by patents. Scheduled to debut in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, ATM’s or credit cards are accepted. For more information, visit www.cmoney.com or contact contactus@cmoney.com

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of cMoney, Inc. (“the Company”) to effectively compete; the timing and effectiveness of the planned launch of the new cMoney solution; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; adverse results in litigation; and changes in and a dependence on key personnel. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

cMoney (CE) (USOTC:CMEY)
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