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Mozido® Acquires PagoVision® to Broaden Merchant Distribution Network for Mobile Financial Services and Marketing Solutions

Mozido, LLC, the cloud-based, white label integrated platform of mobile payments, commerce and marketing, today announced its acquisition of PagoVision, a U.S.-based leading merchant network providing check cashing and payment services for the unbanked and underbanked.

With the acquisition, Mozido will gain access to PagoVision’s merchant network – more than 1,500 independent retailers dedicated to serving the underbanked and unbanked consumers and the immigrant population in the U.S. Mitch Dillard, co-founder of PagoVision, will continue to lead the subsidiary’s operation.

PagoVision merchants can generate incremental revenue by expanding their product offerings to include Mozido’s full assortment of value-priced financial solutions, including international and domestic remittances, international and domestic mobile minutes top-up, bill pay, stored value card and remote deposit capture.

In addition, the Mozido mobile targeted marketing platform will enable PagoVision merchants to increase traffic to their stores and deepen customer relationships by delivering mobile promotions, coupons and loyalty rewards directly to the consumers’ mobile phones.

“The strategic acquisition of PagoVision marks the beginning of Mozido’s deployment of its mobile financial services, commerce and targeted marketing platform in the U.S. As a leading independent merchant network serving the unbanked and underbanked, PagoVision complements Mozido’s unique expertise in serving the economically disenfranchised and its mission to mobilize all consumers up the financial ecosystem,” said Greg Corona, CEO and President of Mozido, LLC.

“Our focus has always been on developing mutually beneficial and trusted relationships with our merchant partners,” said Mitch Dillard. “As we join forces with Mozido, PagoVision will enable our merchants to increase store traffic, acquire new customers, and increase same-store sales, by selling Mozido’s innovative mobile payments and marketing solutions.”

About Mozido

Mozido provides an integrated platform of cloud-based, white-label, mobile payment, shopping and marketing solutions, complemented by real-time, customer behavior analytics. Our platform is highly interoperable and can work with virtually any wireless carrier or mobile device, including smartphones and feature phones. Mozido enables companies in retail, financial services, consumer packaged goods and telecom to serve both banked and unbanked consumers.

For more information, visit us at www.mozido.com. Follow us on Twitter: @MozidoGlobal

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Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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