Envoy Services Ltd

• Envoy Services Ltd (Envoy) is a UK incorporated payment technology and service provider

• Envoy provides services to both online and offline companies requiring localised and low cost bill collection and payment execution on a cross-border basis

• Envoy is registered with HM Revenue and Customs in the UK as a Money Service Business (MSB)

• The business provides payment services to a range of sectors and counts FTSE 250

companies among its Merchants

What do we do?

• Single point of access for local banking services around the world

• Focus:

– Bank to bank transfers and local proprietary banking products

– Automation and validation to minimise payment fixing and manual processes

– Advanced merchant interfaces and reporting

How does it work?

Merchant View

Merchant View (drill down)

Who uses Envoy?

• Retailers• Collect funds locally• Reduce chance of fraud• Offer localised familiar banking services• Cap banking charges• Reach more Customers

• Businesses / Corporates• Improve cash flow• Decrease banking costs• Decrease operational costs• Auto FX

• Individuals• Efficient use of banking systems to effect safe and secure

transfers

• Regulated in the UK

• Considerable experience in dealing with bank-specific internet payment methods

• Utilises the latest technologies and keeps abreast of developments

• Secure, reliable payment platform

• Working directly with banks to improve efficiency

• Operating in over 190 countries

• Working towards Faster Payments (UK) and Payment Institution (EU) Regulation 2009 – 2010

Why Envoy?

Envoy’s Banking Partners

• Due Diligence performed on all Clients • MLRO role established • AML training and procedures • Money Service Business under HM Customs and Excise • Advisors on European Commission –”New Legal Framework for Payments”

Compliance

• Simple integration • Highly secure, professionally hosted, redundant, scalable platform • Full end-to-end implementation available • Configurable general ledger • Multi-currency with foreign exchange capability • Client administration tools and reporting • Automated billing and operational processes

Technology

• Premier payment service provider to corporate clients

• Low cost but high volume and high quality offering

• Global focus

• Development of new bank-specific (non card) payment products

• Ongoing commitment to secure, resilient and scalable technologies

• Providing optimal support and reporting to merchants

Corporate Aims

Retail Purchase Flow Presentation

• Customer goes to the online store and chooses goods.

• At the checkout process the customer is presented with payment options including local bank transfer options or local bank payment methods such as Ideal (which is a popular local payment method in the Netherlands).

• For this example we show only local bank transfer and Ideal.

• If the Customer clicks on Fast Bank Transfer they are shown the relevant banks in each country. They are advised a reference number to quote at their bank when they make the transfer.

• The Customer goes to their bank and initiates a transaction to Envoy’s bank account quoting the appropriate reference. OR

• If there is a real time service available they will probably choose that (in this case we show Ideal in the Netherlands).

• The customer makes their Ideal transfer

• The bank transfer transaction appears in the Merchant’s Admin account

• Or, if it is a local payment option the transaction details advise it is a local payment option

• The Merchant then provides the goods or service knowing they have received cleared funds.

• Payments to Customers from local banks in their country

• Faster payments

• Cheaper payments

• No landing charges

• Payments made in currency

• Single or batch payments

• Flexible file formats

PayoutsEnvoy also offers a payout service – direct to a Customers bank account

to 190 countries around the world.

Real times currently availableSpain - Linea Abierta - La Caixa bank. Estonia – Hanspank – BankLinkPoland – Przelewy 24Russia - MonetaAustralia - PoliGermany - SofortuberweisungAustria - SofortuberweisungHungary - AbaqoosNetherlands – IdealNordea. Coming online within Q1 - 2009:UK - PoliSth Africa – PoliBelgium MisterCashDenmark – ewireNorway – BankAxessCzech Republic - eBankaEPS – AustriaItaly – Bank Pass

In addition, we should have the following bank accounts opened and available in the next 4 – 6 weeks:

Iceland – Kaupthing BankMexico – NOW OPENBosnia – Unicredit BankGermany – Commerzbank & Deutsche PostRomania – Raiffeisen BankIreland – AIBCyprus – FBMESouth Africa – FNB & Nedbank Hungary – Unicredit BankBrazil – BoletosUnited States- National City Bank/PNC Bank, Key Bank

Status update and future plans as of Jan 2009