Paynova has now launched the French version of the Paynova Wallet, and the first agreement with the French site, IE-Club, has been signed. IE-Club will offer its 700 members payment via Paynova as the only payment method on the website.

"We’re expecting IE-Club to be up and running during this week, and it’s very exiting to follow developments on the French market," says Pelle Hjortblad, President of Paynova AB.

"The French market is roughly nine times the size of the Swedish market, so there is certainly great potential for us there," Pelle Hjortblad continues.

E-commerce in France has enjoyed growth of approximately 65% in the past year and around 7.7 million consumers have made online purchases.

It was decided at an extraordinary general meeting of shareholders in November 2003 to list Paynova on the stock exchange. The company’s goal is to be listed on NGM Equity in January. The aim of listing the company’s shares is to raise capital for marketing.

For more information, please contact:

Pelle Hjortblad, CEO Paynova, tel +46 8517 100 07

About Paynova

Paynova AB is a company specialising in secure online payments. The Paynova Wallet is a digital wallet for digital transactions that can handle amounts from 5 pence and up. The digital wallet enables the customer to manage and control purchases limiting his/her personal credit card or eBanking information to only one counterpart. The digital wallet cuts costs and increases efficiency for the merchant. The Paynova wallet is easy to get, use and install. More than 20 000 banks worldwide accept the Paynova solution for VISA and MasterCard payments. Since launch in 2001, Paynova AB has signed agreements with more than 500 companies and organisations that now offer the Paynova Wallet as a payment option on their websites. Paynova is a company owned by employees and private investors. Pelle Hjortblad, former CEO of Tele1 Europé/Song Networks, is the CEO of Paynova.

About IE-Club

The French association IE-Club is an exclusive meeting point for entrepreneurs and investors from the information technology and the e-business sector. The association has about 700 members, such as AOL, Amazon, Voyages-SNCF, France Télécom and Bouygues Télécom. IE-Club regularly puts together various activities and seminars with prominent personalities from the business world as well as from politics. IE-Club works from “Chambre de Commerce et d’Industrie de Paris”, which is the French Chamber of Commerce of the Paris region, and collaborates together with companies such as Ernst & Young and Euro-CASE.


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