Emida Launches Money Transfer Operations With Union Express

Miami, FL – October 28, 2003 – Emida, a provider of transactional networks for electronic prepaid distribution, bill payment, money transfer and stored value card processing and Union Express, a leading money transfer operator initiated money transfer operations in Central America.

The companies partnered to deploy money transfer services through the PUNTOflex network, the growing transactional network for the Latin American and Hispanic markets.

David Brillembourg, CEO of Emida Technologies commented that Global Hispanics send an estimated $30 billion in remittances each year to their relatives in Latin America and the Caribbean, making this a potentially high volume market.

Some of the key benefits offered enable the sender to control the use of sent funds fund by the receiver. PUNTOflex’s multi-product capabilities allow the global distribution of stored value cards enabling the money sender to assign the use of funds for specific goods or services in major retailers.

Large retailers are looking at this initiative closely as a multi-service feature that enables them to capture local consumers.

Consumers in Central America are able to transfer money to relatives and friends at any Union Express and PUNTOflex authorized point of sale.

About Emida
Emida is deploying PUNTOflex, a growing electronic transaction-processing network which enables electronic prepaid service distribution, bill payment, money transfer, and stored value card processing. Emida is focusing initially on the Global Hispanic and Latin American markets.

For more information on Emida’s products and services visit www.emida.net

About Union Express
Union Express is a money transfer company that provides remittance services through an international network of collecting and paying agents. Union Express focuses on the US Hispanic and Latin-American consumer markets and bases its commercial strategy in the provision of multi-product remittance services including prepaid services, bill payment, and stored value reload.