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Luup launches Mobile Travel Authorisation & Budget Management Service

Cost-saving solution for corporates and governments selected by Finovate for cutting-edge showcase

Dubai, 13 February, 2012 - Luup took to the stage at high-profile financial technology showcase FinovateEurope in London, launching a Mobile Travel Authorisation & Budget Management Service. This service is part of Luup's Corporate Mobile Payment Solution and solves one of the biggest daily challenges organisations such as corporates and governments face in the UAE and worldwide.

Travel requests are a vital, daily and costly challenge for organisations. With Luup's latest service, travel budgets are managed in Luup's mobile wallet system which enables travel requests, authorisations and payments within minutes - from anywhere, on any mobile network or device. Gone are the days when employees have to chase managers for budget and trip approvals, while flight and other costs rise exponentially by the hour. The new service optimises processes, bringing substantial cost-savings, efficiency and productivity gains to Luup clients.

Finovate conferences offer an insightful glimpse of the future of money. Each year companies demo their latest financial and banking technology innovations. Following a stringent assessment process, Finovate hand-picked the best, most innovative companies for 2012 - and Luup was selected for its new Mobile Travel Authorisation & Budget Management Service.

"Luup's mobile payment offering for corporates caught our attention because we think that area of the market is ripe for innovation," said Eric Mattson, CEO of The Finovate Group, "We're excited to have Luup demo their latest innovation in that space at FinovateEurope this year."

Through an interactive live demo from various mobile devices, attendees of the Luup showcase experienced how the service is a fast, convenient and secure way to optimise processes. The service is an addition to Luup's Remote Authorisation & Mobile Wallet products.

"This service is one more example of how our corporate solution adds unrivalled value to our clients," said Luup CEO, Martin Wilson. "Being selected to showcase to the demanding Finovate audience clearly reflects our focus on providing relevant solutions to our clients and the impact Luup is having in the mobile technology and payments market."

Luup is driving the future of payments, having launched the only universal mobile payments platform available and winning a Financial-i Leaders in Innovation Award in 2011.

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About FinovateEurope
FinovateEurope is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in London, the event offers an insight-packed glimpse of the future of money via a fast-paced, intimate and unique format. FinovateEurope is organized by The Finovate Group.

For more information on the event or to view videos of previous demos, please visit http://www.finovate.com/europe2012

About Luup
Luup offers award-winning bank-grade mobile payment solutions that solve clients' business challenges. With its universal mobile payment platform, Luup provides access to new cost-saving and revenue-generating business models: corporate and transaction banks can take advantage of the Luup Mobile Corporate Solution; retail banks can benefit from the Luup Mobile Branchless Solution; money transfer organisations and exchange houses can innovate with the Luup Mobile Remittance Solution. Luup has proven best-practice experience in developing, deploying and running mobile money managed services since 2002. These range from mobile cash or salary disbursements to remittances and corporate payments - all securely via mobile devices.

Luup is creating an extensive payments ecosystem, enabling its clients to expand their own business reach with Luup's partners. Consumers benefit through a comprehensive range of services that drive cost savings and financial inclusion. The company is integral to strategies of financial institutions such as Deutsche Bank's Global Transaction Banking group and leading UAE bank, the National Bank of Abu Dhabi. Other partners include Oxigen Services in India, Dhasatra in Indonesia and ITC Ltd in Bangladesh.

For additional information visit the Luup website.

Luup press contact:
Beatrice Martin-Vignerte
Director of Corporate and Marketing Communications
Phone +44 788 4187763
Email beatrice.m-vignerte@luup.com

Luup and the Luup logo are trade marks of the Luup Group of Companies. All other company or product names mentioned herein may be trade marks of their respective owners

© Press Release 2012