Cairo, Egypt Jun. 13^th, 2010, Applications & Payment Systems Development (APSD) Corp.

Masary and MobiKash Africa have signed a strategic Business Association Agreement to jointly serve the Middle East and African un-banked and semi-banked markets, offering a unique suite of Mobile Payment, Mobile Disbursement, Mobile Banking, Mobile Commerce and Mobile Remittance services.

Masary, based in Egypt, is focusing on the development of services in the Middle East, particularly the Arab countries in both Africa & Asia.

MobiKash, headquartered in Kenya, is presently deploying operations in east, southern and west Africa in a phased approach, commencing with Kenya, Zimbabwe, Uganda, Tanzania, Togo, Senegal, and Malawi.

The immediately addressable market for both companies exceeds 250 million mobile subscribers, many of whom do not use full and formal banking services but who are eager to be included into the financial ecosystem via the adoption of micro-accounts, micro-finance and mobile wallets. Such financial inclusion has been shown to enrich lives and relieve users from the significant cost and time of transacting their daily private and business needs via the traditional un-banked, cash-based, methods.

MobiKash’s vision is to empower the people of Africa through a secure and independent Mobile Commerce & Financial Services ecosystem which synergizes perfectly with Masary's vision of establishing a real-time payment gateway, improving the standard of living of those involved through job creation whilst jointly mobilizing and linking the banked with the un-banked.

For more details about MobiKash, please visit www.mobikashafrika.com