ProgressSoft and ebpSource Announce Partnership at MEFTEC 2012, to Bring Advanced e-Billing and Payment Capabilities to Middle East Banks and Billers

LONDON and DUBAI, April 26, 2012 /PRNewswire/ --

ProgressSoft, the leading provider of real-time payment solutions, announces its partnership with ebpSource at MEFTEC 2012, the world's premier financial technology event for emerging markets, which is taking place in Dubai on 25 - 26 April 2012.

For the 7^th year in a row, ProgressSoft participates as MEFTEC Platinum Sponsor, presenting its renowned payment solutions, including nationwide mobile payment, electronic image-based check clearing and ACH payment solutions.

This year and for the first time at MEFTEC, ProgressSoft is showcasing the industry-standard electronic bill presentment & payment (EBPP) solution provided by ebpSource.

This comes as the first joint business endeavour following ProgressSoft's partnership with ebpSource, master international distributor for the world's leading e-billing and payment software platform. Through this partnership, the two companies aim to promote e-billing and payment software solutions to national payment processors, banks, billers and other service providers across the Middle East region.

"We chose ebpSource because it is the recognised leader in electronic bill presentment and payment technology and its world-class brand complements our portfolio of payment solutions. This partnership enables us to add even more functionality to our mature range of financial services offerings - thus enriching the business environment of our clients," expressed Mr. Michael Wakileh, CEO of ProgressSoft Corporation.

Both partners expect strong initial interest from regional banks and national payment processors. Says Steve Wright, EVP of Commercial Operations at ebpSource:

"The ebpSource team has worked extensively with financial institutions all over the world to develop advanced local and regional e-bill consolidation networks.

Many of these initiatives have involved a close working relationship with local technology partners such as ProgressSoft.

These combined teams work tirelessly to help organisations across a wide range of industries to integrate their billing and payment processes, with the convenience of the online banking, mobile, branch, ATM and other electronic channels.

It is no surprise that a number of these initiatives have already gone on to win international recognition for their electronic bill presentment and payment services."

On-site demonstrations of the e-billing and payment capabilities being offered by ebpSource and ProgressSoft, along with all other ProgressSoft solutions are being conducted to MEFTEC delegates, comprising the highest level of executives from both the banking and telecoms sectors in the region.

About ProgressSoft

http://www.progressoft.com

Established in 1989, ProgressSoft has been focusing its proficiency in Real-time Payments and Imaging technologies to deliver a set of innovative solutions tailored for the needs of the banking and financial sectors. Serving a diversified client base of 350+ banks in 23 countries around the globe, ProgressSoft provides solutions in the fields of Electronic Image-based Check Clearing, Automated Clearing House, Mobile Payments, Intelligent Signature Recognition and Real-time Settlement for Securities Trading.

About ebpSource

http://www.ebpsource.com

The most experienced team in the international electronic billing and payment industry, ebpSource delivers software solutions, consultancy and support to global billers, banks and payment processors. ebpSource also serves as Master International Distributor for CheckFree i-Series, the world's leading e-billing and payment software suite which presently underpins many of the largest global e-billing, e-invoicing and payment applications across the financial services, telecoms, utility, postal, outsourcing, manufacturing and logistics sectors.

SOURCE ebpSource and ProgressSoft