PORTLAND, Ore., March 1, 2005 — Vesta Corporation, a pioneer and leader in virtual payment solutions, announced today that it has been selected by T-Mobile USA, the domestic operations of T-Mobile International AG & Co. K.G., to manage phone and Internet-based recharge transactions for its T-Mobile To Go product line.
"Our solution provides many benefits for telecom carriers and their customers," said Rocky Scales, Vice President, Sales and Marketing of Vesta Corp. "Prepaid customers benefit from the convenience of recharging their accounts anytime and from anywhere, and carriers can cost-effectively turn infrequent users into loyal customers, reducing churn and maximizing customer revenue."
Vesta's solution allows customers to instantly add funds to their prepaid account at any time using a variety of payment options, including credit card, debit card or electronic check, making it as easy as possible to maintain their prepaid account and relationship with T-Mobile. The Company's patented "High Tech-High Touch" solution strikes a delicate balance between technology and human interaction in processing e-commerce transactions. The speed and accuracy of this balanced solution allows Vesta to indemnify carriers from fraud and facilitates carrier-branded customer communications that further extend brand loyalty to reduce churn.
The Yankee Group predicts that by the end of year 2007, the U.S. prepaid subscriber base will grow by 70 percent to 24.8 million customers.
"Vesta's solution answers key market issues from both customer and carrier perspectives," said Roger Entner, Program Manager, Wireless/Mobile Services for the Yankee Group. "The mere fact that Vesta has established relationships with two of the top three wireless carriers reinforces their unique position to fuel our predicted growth in the prepaid wireless market."
Headquartered in Portland, OR, and with operations in China and the UK, Vesta is a pioneer and worldwide leader in virtual payment and stored value solutions. Vesta utilizes proprietary authentication and fraud screening measures in managing its clients' stored value programs, and provides a secure, privacy-assured, recharge solution to their end users. Vesta has been recognized for the past four years as one of Inc magazine's fastest growing privately owned companies in America. Vesta's clients include AT&T, Cingular, MasterCard, NextEstate, Sprint, T-Mobile and others. For more information on Vesta Corporation, email info@trustvesta.com.
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