PayFair new CEO to Drive Development of the new European Payment Scheme

Payment Expert Appointed to Drive PayFair's Continued European Expansion

LONDON, January 14, 2011 - PayFair, the European payment scheme providing consumers, merchants and
banks with next generation electronic payments has announced the appointment
of electronic payment expert Stephan Becker as new Chief Executive Officer.
With over 20 years' experience, Stephan's initial focus will be to increase
PayFair's uptake by banks within the SEPA world and continuing the expansion
throughout Europe and globally.

PayFair is the new SEPA compliant payment scheme offering a European
alternative to other schemes such as MasterCard and Visa that are well
established in the payments arena. PayFair's business model is organised
around a SEPA and PSD-compliant system that allows it to make payments
simpler, faster and safer. PayFair differentiates itself from the competition
through the cost, speed and security of its service. Card fraud is often
e-payment related with customers complaining that current systems are not
safe enough and payment processes are too long and complicated. Merchants are
asking for reliable and affordable payment means and banks are struggling
with higher costs related to fraud damages. PayFair is easy to enrol and
implement within a current system giving consumers comfort and security while
providing banks with an efficient alternative that secures the profitability
of their card payment activities.

Dominique Buysschaert, Founder & President of PayFair Group said, "We are
delighted to bring Stephan on board. His knowledge and expertise within the
international payment sector will be a real asset for our development. Our
current focus is to secure issuing banks across Europe and Stephan's
expertise within this sector is a perfect fit in driving our expansion
plans."

Stephan Becker said, "With growing demands on compliance, competitiveness
and security, PayFair is ideally positioned to succeed within the competitive
world of electronic payments. I know how fast innovative and flexible smaller
companies can react to market demands. I am looking forward to using my
experience to enable PayFair to be the real European alternative to other
initiatives like EAPS and Monnet whilst also challenging US schemes such as
MasterCard and Visa."

Prior to joining PayFair, Stephan has previously worked in the Payment
Industry for firms like Pluscard, First Data and MasterCard. He also acts as
an independent consultant to a number of payment service providers advising
on strategic management and product development.

About PayFair

PayFair is the new SEPA compliant European payment scheme. Founded in
2007, it has been developed by an independent group of entrepreneurs and
experts from the financial, IT and retailing sectors. PayFair offers a
complete end-to-end and already operational system that can manage payments
transactions from start to finish. As cards, mobile and electronic
transactions are rapidly replacing cash as the primary payment tool in
Europe, PayFair comes up with innovative solutions and provides everyday
convenience to consumers, banks and merchants facilitating fast, safe and
efficient payments. PayFair partners with all market players to promote real
transparency, great price competitiveness and profitable payment activities
in an open market environment.

For further information visit www.payfair.eu

    Press contact

    Metia
    Clare Anderson
    p: +44(0)20-3100-3601
    e: clare.anderson@metia.com

Press contact: Metia, Clare Anderson, p: +44(0)20-3100-3601, e: clare.anderson at metia.com