Singapore-based Cherry Credits Pioneers Micro-payments for the Youth Market

SINGAPORE, August 31, 2007 - Online games; social networks; blog content; music and video clips - content providers and intellectual property owners now have a new channel to reach the lucrative teenage and young adult market previously unavailable or resistant to service-for-fee offerings. While the bulk of transactions online are based on credit-card processing systems, the youth market has until now been grossly underserved as teens do not necessarily qualify or are predisposed towards credit card use. This problem is exacerbated by pre-set minimum transaction amounts for payments to be processed by credit card. Micro-payments allow young consumers a means to transfer and transact very small amounts of money impractical with traditional credit card-based payment systems.

Singapore-based Cherry Credits - a pioneer in end-to-end micro-payments fulfillment solutions - is launching at Games Convention Asia 2007 its patent-pending New Economy eXchange Technology (NEXT). NEXT is a proprietary secure micro-payments engine that offers turn-key integration with new or existing payment systems of content providers. The NEXT engine is further supported by both virtual and physical distribution channels in Singapore and around the region, including in-store distribution points at popular consumer outlets such as 7-Eleven.

"Next's unique integrated online and physical processing-distribution model provides content providers with unparallel flexibilities in distribution and payment collection, and more importantly, provides young consumers access to a whole new world of online gaming and entertainment titles," said Addison Kang, CEO for Cherry Credits. "NEXT is a proven micro payments engine that is an evolution up from the engine powering popular online gaming titles like Maple Story - which see tens of thousands of transactions at any instance".

Cherry Credits will be introducing a slew of new online gaming and entertainment content partnerships based on the Cherry Credits NEXT system in Games Convention Asia 2007.

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