MPOWER Ventures Invests in Australian Prepaid Leader, Extends Rêv Platform to Underserved Markets in Asia-Pacific

AUSTIN, Texas and SYDNEY, Australia, August 27, 2008 – Australian prepaid card leader SCX Global Limited has joined the Rêv Worldwide network of payment companies through a majority share investment by MPOWER Ventures, a socially committed venture fund that invests in financial services for underserved consumers worldwide, the companies announced today. The Rêv Worldwide companies are part of the MPOWER Ventures portfolio. Under its new name Rêv Asia Pacific Limited, SCX Global will lead the Rêv Worldwide network’s efforts to drive widespread commercial availability of new and emerging payment solutions to underserved consumers throughout the Asia-Pacific region. Rêv Worldwide encompasses RêvEurope Payments Limited, Rêv Latin America, Inc. and now formalizes operations in the Asia-Pacific region under Rêv Asia Pacific Limited, formerly SCX Global.

According to the Asian Development Bank, more than 300 million households in the Asia-Pacific region lack access to basic financial services.[1] SCX Global was among the earliest companies in the region to address this need and was the first to offer retail availability of a reloadable Visa prepaid card, Canvas, throughout Australia, providing underserved youth and immigrant markets with the convenience and security of a Visa payment card. SCX Global was also the first provider in the region to offer a virtual Visa prepaid card, VCARD, bringing secure online shopping to a wider group of consumers. In addition to the general purpose prepaid and virtual cards, SCX Global’s product portfolio includes gift cards and remittance cards.

“We believe everyone in the world deserves access to trusted payment solutions and the opportunities and freedoms that come with participating in the financial mainstream,” said Richard Child, executive chair, international strategy and corporate development, Rêv Worldwide. “Over half the world’s population lives in Asia-Pacific, so our partnership with SCX Global is essential in creating inclusive financial services for the underserved worldwide. We’re thrilled to have found the right partner in SCX Global, a company with a proven understanding of the regional landscape and a successful track record introducing consumers in the region to the benefits of innovative payment solutions.”

Partnering with MPOWER Ventures gives SCX Global access to MPOWER Labs, the global research and development incubator and business accelerator serving MPOWER Ventures and its portfolio companies. With support from MPOWER Labs, Rêv Worldwide has already introduced the industry’s only platform focused on international underserved markets, providing seamless global connectivity and universal language and currency support for card-based, mobile, retail and online transactions. MPOWER Ventures and MPOWER Labs were both founded by brothers Roy and Bertrand Sosa who pioneered the prepaid card market, expanding access to financial services for millions of underserved consumers.

“Joining the Rêv Worldwide network is a logical and exciting development for SCX Global,” said Simon Hilton, managing director for SCX Global. “It provides us with immediate scale, the power of a global brand, access to shared international knowledge and groundbreaking product platforms. We share MPOWER’s spirit of entrepreneurship, belief in innovation and desire to serve consumers who have been overlooked by the market.”

SCX Global will continue supporting its current partnerships and consumer products, and the SCX Global executive team will continue operating in their respective capacities. Terms of the transaction were not disclosed. For more information on SCX Global’s products, visit: http://www.mycanvascard.com.au, http://www.virtualvcard.com or http://www.securecashxpress.com.au.

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[1] “Low-Income Households’ Access to Financial Services: International Experience, Measures for Improvement, and the Future,” Nimal A. Fernando, October 2007 (www.adb.org/Documents/Books/Low-Income-Households/low-income-household.pdf)