cMoney – Provides a Safe and Total Solution
HOUSTON--(PaymentsMarket)--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. In this fast moving mobile to mobile payments market segment, cMoney analyzes the weaknesses of current market competitors.
“Move Money At The Speed of NOW!”
cMoney Solution – With the early release of the NFC application and capabilities by various companies, including Apple’s anticipated release of the iPhone 5, (now postponed: http://www.businessinsider.com/iphone-nfc-2011-3 and Google’s Mobile Wallet, using Android, there has already been a big concern for the security risk associated with transferring funds on consumers' mobile devices. It has been noted according to this one article:http://www.eweekeurope.co.uk/news/serious-security-bugs-found-in-android... that Google’s Android has experienced “88 flaws that could expose their user’s data…..a total of 359 bugs, about one-quarter of which were classified as high-risk.” Google's (Android) integrity was also recently questioned by a Motorola executive; sighting the ability of nearly any entity to design an Android App that could maliciously access data on the user's phone and could also damage the phone handset as well. http://bit.ly/jdzg6k In a similar regard, Google recently had to use a remote kill switch to remove malicious Apps from users' phones. http://mobile.eweek.com/c/a/Security/Google-Removes-26-Apps-With-DroidDr...
NFC is new technology to the consumers; however merchants, mobile carriers, and other affiliates are finding it difficult to troubleshoot the many problem areas. The NFC technology requires an embedded chip to be built into the cell phone that stores the consumer’s personal data leaving private information open to security risks, in the event your phone is lost or stolen. In addition, all systems using the Near Field Communications hardware ("NFC"), including Google Wallet, will be prone to possible theft of personal information and fraudulent purchases. In an article highlighting the ease with which the Starbucks mobile App was hacked, the author likened the threat to all NFC phones.http://www.nearfieldcommunicationsworld.com/2011/02/09/35844/hacker-show...
cMoney, by comparison, is structured to use the consumer’s existing cell phone via an uploadable application, without the purchase of an NFC phone and will provide a platform for the consumer to store and access up to (30) thirty debit and/or credit cards. The cMoney solution stores no personal information on our customer’s phone leaving them with the peace of mind that their data is always safe.
It is anticipated that the mobile to mobile payments market will explode in the next couple of years. In fact, according to this article:http://www.mobilecommercedaily.com/2011/01/26/mobile-payments-could-reac... to the tune of approximately one trillion dollars, “if retailers receive lower payment processing fees based on a more efficient system.”
cMoney competitors have a very limited means of generating revenue for their company. cMoney currently has (14) fourteen sources of generating cash flow and as the mobile payment sector continues to grow, the cMoney technology will dominate in this market, while providing consumers lower transaction fees. This is one of many reasons why cMoney will provide the consumer with the total solution.
Ongoing Research – Our cMoney solution continues to receive positive feedback from our business and technology developers, shareholders and also consumers.
Moving forward towards submission of S-1 – cMoney continues, with its previously announced partners, to prepare for the submission of its expedited Form S-1/A which is greatly anticipated by cMoney shareholders.
cMoney CEO comments -
Mr. Matthews, CEO of cMoney stated, “I would like to take this opportunity to thank all of our shareholders for continuing to keep cMoney in an active – trading momentum status. We are helping to make consumers aware of our exciting alternative to the NFC technology. cMoney will revolutionize our daily financial world and we will continue to provide more information to our shareholders and consumers about the developments of our cMoney solution and its technology that has been designed over the last (5) five years, awaiting for the right time for its deployment.” cMoney is a game changer for the entire mobile payment market and has NO COMPETITION, as we will 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 firstname.lastname@example.org
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.
Paul Matthews, CEO, 713-589-5393 ext. 105