PAYNOVA SUPPLIES PAYMENT SOLUTION TO SWEBUS EXPRESS

Swebus Express has decided to link up with Paynova’s electronic payment solution for all online sales of bus tickets. Paynova will be the sole supplier of Internet payments for the Swebus Express sales system, which, once it is fully installed, is expected to generate significant transaction volumes. Commissioning is scheduled for the end of August.

Ticket sales for Swebus Express currently take place in a physical manner, via actual sales points and on the buses themselves. Switching to the Internet and Paynova’s payment solution will reduce costs, minimise the risks associated with handling cash, and make reporting and ticket management more efficient, for the benefit of both Swebus Express and consumers. The payment solution to be supplied by Paynova will initially cover all pre-purchased tickets booked over the Internet and will later on be expanded to include sales made via Swebus Express’ other sales points.

“We will be installing an administrative interface to handle all types of payment, and Paynova will thereby become Swebus Express’ only payment solution for all ticket sales over the Internet,” says Pelle Hjortblad, Paynova’s CEO. “Our previous partnership agreement with the student organisations Mecenat and Studentkort i Sverige provides an extra bonus for both our companies. Young people often opt to travel by bus, and we can reach this group effectively through these agreements.”

Swebus Express operates a comprehensive regular network of long-distance buses between 180 or so locations all over Sweden, and runs daily services to Oslo and Copenhagen. Their turnover amounts to around SEK 360 million distributed over approximately 3 million tickets a year. Approximately 70 per cent of tickets are currently purchased from actual retailers. The aim is for Paynova’s payment handling solution to lead to an increase in this percentage.

The agreement is the second concluded in the personal transport sector within a short space of time.

For further information. please contact:

Mats Jonnerhag, PR and information, Paynova AB

Cell: +46 (0) 708-754 920, Email: mats.jonnerhag@paynova.com

Pelle Hjortblad, CEO Paynova AB

Cell: +46 (0)701-810 110 Phone: +46 (0)8-517 100 07,

Email: pelle.hjortblad@paynova.com

www.paynova.com

www.swebusexpress.se

About Swebus Express:

Swebus Express AB, a market leader in bus travel in Sweden, forms part of the Concordia Bus Nordic AB group. Swebus Express AB operates long-distance bus services between 180 Swedish towns and cities, from Mora and Gävle in the north to Malmö in the south, as well as to Oslo and Copenhagen. Tickets can be purchased from around thirty sales points, as well as on board the buses themselves.

About Paynova

Paynova (listed on NGM: PAY) offers businesses and consumers secure payment solutions for shopping via the Internet or mobile phone. An electronic wallet (e-account) is opened and topped up simply and easily, and can be used direct for payments over the Internet. Over 100,000 Paynova Wallets have been opened by consumers, who then avoid having to supply their bank or credit card numbers to strangers over the Internet.

Businesses find that managing payments through Paynova results in lower costs for administration and redemption, and that they can receive payments from all over the world. More than 20,000 banks accept the wallet via VISA and MasterCard. Paynova currently has nearly 600 online shops connected. Specially adapted payment solutions are available for: Traditional online shopping (e.g. mail order) including Micropayments (e.g. gaming), Mobile phone payments (e.g. Premium SMS), for special Industry needs (e.g. passenger transport) and Partnership agreements (e.g. transaction management companies).

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