iSend Executive Summary

“Sending Money with a Purpose”

Purpose Driven Remittance

• iSend is an international payments company• US Based immigrants will originate transactions thru a retail based cash

acceptance network or via www.isendonline.com• The service will be utilized to:

– Directly pay varied bills of relatives back home– Top up minutes for pre-paid cell phones– Provide credit at major local retailers

• Revenue is earned via fees per transaction as well as on F/X conversion– Fees will be paid by either the biller or the consumer

• Launched March 2008 in Mexico• Phase 2: Brazil, Honduras, Guatemala and Jamaica - Q2 2008• Web Services API created and implemented

iSend Origination and Distribution Points

Origination:• Over 10,000 Locations Signed:

Large check cashers, money transfer companies and distribution partners

International Distribution:• Signed Letter of Intent with Partner in Brazil

– Thousands of Bills Available

• Signed Agreements with Billers and Partners in Mexico– Key billers available

• Negotiating contract with Jamaican bank for access to Caribbean

Central America Cross Border Top Up’s and PinsMexico

Guatemala

El Salvador

Honduras

Cross Border Bill PaymentMexico

Guatemala

Honduras

MEXICOTEL CEL( America Movil ) UNIFON (Azteca) ‏TELEFONICA (Movistar ) IUSACELL (Azteca) ‏GUATEMALATELEFONICA( Movistar) CLARO (America Movil)‏TIGO ( Comcel) ‏

EL SALVADORTELEFONICA ( Movistar ) TIGO ( Comcel ) ‏

HONDURASCLARO ( America Movil ) TIGO ( Comcel )‏

MEXICOCFE ( Power ) TEL MEX ( Phone) SKY (Satelllite TV)

‏ LyF ( Electric ) INFONAVIT (Mortgages) ‏

GUATEMALAEMPRESA ELECTRICA (Power) EMPAGUA (Water)‏ZETA GAS ( Gas) TELGUA ( Phone ) ‏HONDURASENEE ( Power) SANAA ( Water) HONDUTEL( Phone)‏LASIFE ( Home Mortgage )‏

iSend Management Team

Steven LaBella, President and CEO• Started walk-in bill payment service in 1996• Sold business to American Payment Systems in 2000• Sold APS to CheckFree in 2004• Lead the CheckFree Walk-in Business Unit until 2007

Stuart Reis, International Consultant• 15 Years experience in the Money Transfer space with Western Union and

MoneyGram• Created QuickCollect for WU - now a $500M bill payment business• President of The Rye Group - Money Transfer Advisory

Ronald Goldstein, Business Development Consultant, Latin America.• Based in Brazil• 10 years in Business Development with Western Union• Fluent in Portuguese and Spanish

iSend InvestorsNextLevel Venture Partners -

NextLevel specializes in identifying early stage companies with

breakthrough technologies and/or services. NextLevel invests up to $1 million

in companies that have completed their seed rounds of investments, but are not yet ready to approach the large, later stage funds.

Warbros Venture Partners –

Formed in 1996, Warbros is a private investment firm owned and managed by John Warburg and Michael Warburg. The firm's objective is to achieve long-term capital appreciation through investments in private equity and equity-related securities. Warbros takes minority positions in both early-

stage and mature companies that are typically looking to raise between $250,000 and $2 million.

Center for Financial Services Innovation (CFSI) -

The Center for Financial Services Innovation develops and distributes real-world tested research and strategy, provides funding to promising companies, and facilitates cross-sector business collaboration. We work with banks, credit unions, technology vendors, alternative service providers, consumer advocates and policy makers to forge the pioneering relationships, products and strategies that will transform industry practice and the lives of underbanked consumers across the economic, geographic and cultural spectrum.

Mark Johnson – Former Vice Chairman of CheckFree. CheckFree is the largest bill payment processor in the United States processing more than 100 Million payments per month. Mark worked at CheckFree for over 20 Years. Mark was chiefly responsible for CheckFree's strategic M&A activities.

Sean Feeney – Sean is the CEO if Inovis a $500 Million Atlanta based company that is a leading provider of on-demand Business Community Management solutions that empower companies to transact, collaborate and optimize communications with their entire trading community.

Sean also held Senior management roles within CheckFree Corporation including executive vice president;

president of CheckFree Software.

Global Remittance

Total Remittance receives (US$ Bn)

159 167183

213233

256281

311

345

0

50

100

150

200

250

300

350

400

2000 2001 2002 2003 2004 2005 2006 2007 2008

Dolla

rs (U

S$

bn)

Global Remittance is a large, growing market:

Latin America Caribbean Fast Facts

Total number of migrants 30 millionTotal remittances for region $68 billionSouth America $24Central America $11Caribbean $8Mexico $24Annual average remittances per migrant $2,128Cost of sending $200: $6% - 8%

Top 10 LAC Remittance Markets($B)

#1 Mexico 24.3#2 Brazil 7.4#3 Colombia 4.5#4 Guatemala 3.6#5 El Salvador 3.3#6 Ecuador 3.2#7 Dom Rep 2.7#8 Honduras 2.3#9 Jamaica 1.9#10 Peru 1.9

Global Remittance

• Traditional Money Transfer is expensive and inefficient– Sending Agent, Service Provider and Receiving Agent all get paid– These participants act as Gatekeepers to reducing fees

• 85% of money transfers sent from the US are used for Bill Payment*– These include traditional utilities such as Gas, Electric, Phone, etc…– Replenishment of wireless is becoming a key use of funds– iSend cuts out the traditional MT participants by going direct to billers

• Wireless Carriers well positioned to be disruptor in the Remittance market– Phase One – Money sent to Top-Up minutes on relatives phones– Phase Two – Receiving wireless customers can choose how money is used:

• Minutes for cell phone• Pay bills• Pay for goods at retail

• Wireless carriers become financial hub for their customers

* October 2006 Time Magazine

iSend Bill Payment

• Bill Payment service will be priced 50-100% less than traditional Money Transfer• Marketed as safe and convenient alternative to money transfer:

– Removes the risk of carrying cash for the receiver– Eliminates the need for the receiver to pay bills themselves– Gives control to the sender on how money is used

• iSend will initially sign with payment processors in target countries– Potential for Direct Sends as volume permits

• One or more providers must be able to supply access to key market segments:– Electric - Cable - Tuition– Phone - Water - Insurance– Gas - Wireless - Investments– Medical

• Ideal service provider will be able to supply balance owed on each account– Provides iSend customer with visibility to the amount owed for each bill– iSend customer can choose to pay or decline

• Key focus will be pre-paid “top-ups”– Consumers can directly add minutes to their relatives cell phones

iSend International Pre-Paid Top-ups

• Service is easily adopted by customers– No set amount required to be paid (unlike the set amount for an electric bill)‏– Typically credit given in real-time – instant satisfaction

• Top-up service is viewed as the stepping stone to larger bill payment service– Customer easily adopts this service then tries other payment types

• Free service to customers as service is typically paid by the Carrier• New Revenue opportunity for carriers

– iSend allows them to redirect large amount of remittance directly to their product

• Carriers will be tapped to promote the service to their customers in-country– “Have your relatives directly send you minutes. Go to www.isendonline.com

to find the retailer nearest you.”– Will help generate traffic and volume

• If Carrier develops “e-wallet” then iSend could be funding source – bypassing standard remittance channels.

iSend International Retail Credit

• Customers can buy credit for their relatives at home country retailers– No set amount required to be paid– Typically credit available in real-time – instant satisfaction

• Builds iSend brand by teaming with known retailers– For example: Wal-Mart Mexico

• No service fee to consumer for buying credit– Fee paid by retailer interested in capturing remittance stream

• Potential for joint marketing with Retailers– Promote the service to their customers in-country– “Have your relatives directly send credit. Go to www.isendonline.com or

participating retailer in the US”– Will help generate traffic and volume