Having held executive positions within a number of Telcos across Europe, including leading Danish operator TDC, Jakobsen also has extensive payment industry experience as the former President and CEO of the largest Telco data and clearing house Dannet/MACH. His appointment will further strengthen Mi-Pay's ability todrive competitive service and operational advantage to international mobile operators, MVNO's and financial institutions.

Original founder and former CEO, Norman Frankel, will retain a central role within Mi-Pay, as part of the executive management team and as Chief Business Development Officer where he will focus on developing the strategic relationships that will be vital for Mi-Pay's future success.

Commenting on his new role Jakobsen confirms, "I am thrilled to take on this new challenge. Mi-Pay has already proven its value since its inception in 2004; becoming a leadingglobal player in the dynamic mobile payments market, which is projectedto reach US$264.8 billion by the year 2015*. We are now ready to take the next step in Mi-Pay's growth strategy. We have a strong customer base that includes the likes of Du, Tesco, Carphone Warehouse and Zain. Our proven, multi-channel payments platform is supported by a dedicated team who demonstrate true passion for customer service. Norman has been instrumental in achieving this and we both look forward to taking Mi-Pay's mobile banking, money transfer and international and domestic top-ups to an even wider audience than ever before."

In terms of his objectives, Jakobsen is clear, "Growth and innovationare a core part of Mi-Pay's corporate DNA. We will continue to develop and deploy new mobile payments services that reflect the strategic direction of our customers. We have aggressive regional expansion plans to boost our International Airtime Transfer network to over 60 countriesby the end of the year. In addition, we will continue to invest in our PCI Level 1 certified platform to add value to our bespoke managed services as well as white label solutions."

Commenting on Jakobsen's appointment, Executive Chairman of the BoardMichael Dickerson states, "Since Mi-Pay's foundation over 6 years ago, the company has experienced phenomenal growth. To ensure we are ready for the next phase, we are evolving our organisational structure as wellas our solutions. Allan has the Telco and payment industry experience we need to drive further into operator based services as well as a considerable track record of commercial success. At Mi-Pay, Allan is part of a great team; we welcome his valued contribution and leadership."