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Xcellink Defines Mobile Payments Marketplace as It Develops Applications and Rolls Out Its Patented Technology

^{Published on 2009-11-23 03:09:04 - Market Wire}
 

LAS VEGAS, NV--(Marketwire - November 23, 2009) - Xcellink International Inc. (OTCBB: [ XCEL ]), a developer of patented mobile payments and banking platforms, today commented on the growing marketplace for its technology as it develops its applications to interface with various smart phones including Apple's iPhone and Research in Motion's BlackBerry, and development contracts with companies such as the 3i Infotech Group of Companies, which includes Regulus Group, one of North America's largest payment processors.

Xcellink has the potential to become a major player in the next generation of customer payment systems and it now has patents in the United States, Canada, Malaysia, India, China, Philippines, ARIPO, Singapore, Australia, Vietnam, South Africa and New Zealand. This number represents over 60% of the world's population and, given the potential for mobile adoption, provides the Company with a potentially strong user base moving forward. Some examples follow.

According to TowerGroup, a financial research company, it is projected that mobile banking users in the USA will quintuple in the next four years, going from 10 million active users this year to more than 53 million in 2013.

China, where Xcellink also holds patents for its technologies, is also emerging as a very quick adopter of mobile payments. The number of China's mobile payment users reached 19.2 million at the end of June 2009, Interfax China reports, citing statistics released by local bankcard association China UnionPay. During the first six months of 2009, the number of mobile payment transactions hit 62.69 million, worth USD 2.49 billion, growing by 42.4 percent and 63.7 percent year-on-year, respectively.

And, based on gross transaction value estimates, the international mobile money transfer market is expected to be worth in excess of USD 65 billion by 2014. The report, by Juniper Research, revealed a new emerging sector for microcredits, saving accounts and insurance payments. Known as "sophisticated financial services" these services are entirely focused on developing countries where users do not have access to traditional banking or financial services or simply use alternative means of payment traditionally such as physically transporting cash, or storing cash savings at home.

A Company spokesperson for Xcellink noted, "Despite economic concerns, research is showing that consumers are wishing to manage their finances more closely and their desire for real-time access and control of their fiscal information is increasing the demand for mobile payments' technologies. The growth of mobile devices symbolizes an emerging, techno-savvy consumer market, revolutionizing many aspects of the consumer lifestyle, including mobile payments. And according to Mercator Advisory Group, more and more online storefronts are looking to increase their channel sales using mobile applications as a way to increase their reach and fuel growth as the economy moves out of recession. This provides Xcellink with an excellent base to promote its technology, both locally and globally as demand rises."

About Xcellink

Xcellink International Inc. is a developer of advanced platform-independent customer-centric payment systems and methodologies. Xcellink's patented system has the technical ability to replace all credit, debit, charge and smart cards, providing all functions of order, warehousing, delivery and payment for all types of goods and services in a customer-centric manner that is more efficient, economical, and secure than systems operating today. Xcellink's unique process enables customers, rather than the merchant, to initiate, control and pay for all transactions, without the need for credit cards, in real-time anywhere, anytime, and at a fraction of the cost of current transactions. Please visit [ www.xcellink.com ]

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the Securities and Exchange Commission.