hi5 and Paymo Partner to Launch First Mobile Payment Platform for a Major Social Network

Global Reach and Ease of Use Make Paymo Ideal for Monetization of New Generation of Mobile Social Networkers San Francisco, CA; March 10, 2009 —hi5, one of the world's largest and fastest growing social entertainment sites, and Paymo, the trusted mobile payments network that allows consumers anywhere in the world to buy online and pay with their mobile phone, today announced that users in 24 countries can now use their mobile phones to purchase hi5 Coins, hi5's virtual currency which is redeemable for gifts and premium content on the hi5 site. Countries where Paymo will be made available to hi5 users include the U.S., Canada, France, Hong Kong, Thailand, Russia and Colombia.

The partnership extends hi5's global reach, by providing the ability to accept direct user payments from millions of consumers around the world who do not have or do not want to use credit cards. Over 75 percent of the online community worldwide does not have a credit card, but 3 billion consumers own a mobile phone. Paymo is currently live in 45 markets around the globe, enabling mobile payments in Europe, North and South America, the Middle East, Africa and Asia.

For consumers - Paymo provides an easy, fast and safe way to pay online. You don't need a credit card, or a bank account. You don't need to register. Simply by entering your mobile phone number and replying to a text message you can make a purchase. The charges are deducted from your pre-paid balance or appear on your monthly cell phone bill.

For merchants - Paymo can dramatically increase revenues, allowing hundreds of millions of new customers who do not have or do not want to use a credit card to buy products and services online. Paymo handles all the user billing, provides a simple electronic confirmation of the purchase and settles in the merchant's chosen currency. More than 70 percent of the online community worldwide does not own a credit card. Paymo extends e-commerce to this massive audience of consumers.

"Our easy, fast and consumer-friendly purchase process is driving transaction completion rates that are five times the rate of credit cards and other online payment services that require a bank account," said Paul McGuire, founder and CEO of Paymo. "Today's online users want convenience and 3 billion people have a mobile phone in their pocket. For partners like hi5 we enable monetization of millions of new consumers who either don't have a credit card or a bank account or simply prefer the convenience of paying with their mobile phone."

Ramu Yalamanchi, co-founder and CEO of hi5, said, "In looking at mobile payment options for our global user base, Paymo's presence in 45 markets and strong focus on building a comprehensive mobile payments solution made them a clear choice. For our users to take advantage of premium content and virtual goods on hi5, they need simple and easy payment options. Partnerships with companies like Paymo make it possible to fulfill this need for our users."

About Paymo

Paymo is the trusted mobile payments network that allows consumers anywhere in the world to buy online and pay with their mobile phone. More than 70 percent of the world's online population has no credit card, but over 3 billion consumers own a mobile phone. Paymo opens the world of online commerce to these people, offering them the ability to buy online and pay using their mobile phone. Paymo simplifies and streamlines the e-commerce process for digital items such as virtual goods, online games and applications for social networks and mobile devices. Paymo provides a trusted global payment system for online purchases that is fast, easy and secure. The company is led by executives with deep industry and international experience. The company's payment solution is available globally and is currently live in more than 45 Markets. For more information about Paymo, please visit www.paymo.com.

About hi5 Networks

Headquartered in San Francisco, hi5 is one of the world's largest and fastest growing social entertainment web sites. Our focus is to bring people closer together and allow our members to build and maintain connections between friends and family online. With over 60 million unique visitors every month, hi5 is a top 20 website globally and the number one social site in over 30 countries across Latin America, Europe, Asia and Africa. The service is available in over 50 languages, delivering localized content and applications to users worldwide. For more information about hi5, please visit www.hi5.com.

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