SCHIPHOL, THE NETHERLANDS - April 20, 2011 (Investorideas.com Newswire/ Tech Stock News) - Elephant Talk Communications Inc. (OTCBB:ETAK) (http://www.elephanttalk.com) has announced that the company and its wholly-owned subsidiary, ValidSoft Limited, (www.validsoft.com) were featured recently by Josh Levine in his MicroCap Investor newsletter. The report is available at: http://levinesmicrocapinvestor.com/news/2011/04-14-11.aspx
customer databases. Such companies do not want to invest in IT and telecom infrastructure such as antennas and spectrum, but will look to companies such as Elephant Talk to reach their customers and stakeholders, Levine said.
Elephant Talk aims to become "Mobile Central" in the market for mobile cloud services, which includes hundreds of thousands of companies worldwide, Levine added. He also cited experienced management at Elephant Talk by CEO Steven van der Velden and at ValidSoft by CEO Patrick Carroll.
Levine noted that ValidSoft has advanced its business through this arrangement with Visa Europe and other financial institutions for the provision of its fraud-prevention solutions. Levine pointed out that Visa Europe and its 4,000 member banks handle 28 billion transactions a year.
ValidSoft's suite of advanced telecom-based solutions enables banks and other financial institutions to secure all transaction channels, is relatively inexpensive to implement, and is invisible to the customer while maintaining customer privacy, Levine said. ValidSoft has been awarded the European Privacy Seal, he noted.
ValidSoft uses the proximity of a customer's mobile phone to the location where their payment card is being used. If the phone and the card are not in proximity, then it is likely that the transaction is fraudulent, Levine said.
In pilot programs in the U.K. and Australia , ValidSoft's technology has demonstrated that it reduces transaction false positives from an industry average of 90% to virtually none, Levine said.
Levine also pointed out the significance of Elephant Talk and ValidSoft's strategy of positioning their services in the mobile cloud. As mobile phones are adopted by larger populations, especially where many "unbanked" communities rely on such a device for the transfer and receipt of funds, the mobile or smart phone will rapidly become the dominant form of electronic payment. Levine added that ValidSoft's technology also can provide security to a wide range of transactions in the mobile cloud beyond financial services to include health monitoring, among others.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.
About Elephant Talk Communications
Elephant Talk Communications, Inc. (OTC.BB:ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multicountry discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information visit: www.elephanttalk.com.
ValidSoft Limited, headquartered out of Tullamore, Ireland, is a wholly owned subsidiary of Elephant Talk Communications, Inc. (OTC.BB:ETAK - News), and is a market leader in providing solutions to counter electronic fraud relating to cards, the internet, and telephone channels. ValidSoft's solutions are telecommunications based and are at the cutting edge of the market, utilising their access to the most sophisticated global telecommunications networks and expertise. The solutions are used to combat card-present and card-not-present fraud as well as electronic fraud on all channels, including the most advanced fraudulent attacks such as Man-in-the-Browser. The solutions are designed for mass markets, in a highly cost effective and secure manner, yet are easy to use, intuitive and leverage the most ubiquitous devices available. For more information please visit www.validsoft.com. ValidSoft is the first, and only Security Software company in the world to be certified to EuroPriSe standards.
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