sQuid on Track for 10 Million Transactions in 2011

By Squidcard, PRNE
Wednesday, January 26, 2011

LONDON, January 27, 2011 - With so much noise and hype in the industry around contactless payments,
including contactless bank cards and NFC on mobile phones, it is difficult to
see what is real and what is pure speculation. Today, sQuid, the independent
electronic payments network providing end-to-end contactless cashless
payments, reveals that it will deliver 10 million real customer payment
transactions in 2011.

"Our data is not based on speculation," says Adam Smith sQuid's founder
and CEO. "We have been working away with our consumers and merchants to
create contactless campuses and retail communities in the UK, and we are
already delivering nearly half a million transactions each month, with the
number growing rapidly every day. Our double digit growth means that we
expect to process 10 million transactions through our network by the end of
2011, making sQuid the largest independent payments network in the UK."

sQuid electronic money is used to pay for small value items and works on
smart cards, smart wrist bands, and even with biometric identifiers. The
company has just launched its first online payment service for parents to pay
for school trips and other items, without the need to send cash, or soon to
be phased out cheques, to school.

sQuid e-money is being used in all sorts of ways: at Schools and
Universities, for bus journeys, in retail stores. Vending, parking and more
online services will be delivered later this year. sQuid payments on mobile
phones can be expected very soon.

Parents and students have led the way as the early adopters of this easy
to use, available for all technology that won't get you in to debt and
doesn't need to be linked to a bank account or credit card. Adam adds "At
sQuid we think local as well as global. Success has been about building touch
points within the community and between customers and merchants to create an
easy and low cost way to pay for the little things in life."

    Bede Feltham, Marketing Director, sQuidcard
    T: +44(0)20-8339-2111
    E pr@squidcard.com

    Download a copy of this press release at squidcard.com/news

Contact: Bede Feltham, Marketing Director, sQuidcard, squidcard.com/education, T: +44(0)20-8339-2111, E pr at squidcard.com

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