SEATTLE, Jan. 12, 2005 (PRIMEZONE) -- Qpass(r), the proven and preferred provider of mobile commerce software, announced today the achievement of another major industry and company milestone. During the last month, Qpass customers collectively achieved more than $30 million of premium services revenue through Qpass' Prosperity Series(tm) software. These customers have processed more than 100 million transactions to date using Qpass software.
"We continue to see strong demand from our customers for these types of premium services," said Chase Franklin, Qpass CEO. "This milestone of more than $30 million per month represents significant momentum in our business. The premium services revenue our customers are achieving through Qpass software has grown more than 60 percent in the last 90 days and is solid evidence of accelerating expansion in mobile commerce."
"Qpass continues to help carriers make a real business from premium content services," says Adam Zawel, Director of Wireless/Mobile Enterprise & Commerce at the Yankee Group, "This rapid revenue growth indicates the great potential of m-commerce over the next few years."
In the last three months, transaction volume has increased more than 78 percent with gross sales through Qpass software up more than 60 percent. Although ringtones, at 56 percent of revenue, continue to represent the majority of revenue for premium content, gaming revenue is growing very rapidly and now constitutes 20 percent of total revenue. Premium messaging and video messaging are two categories that are also seeing strong growth. Icons, enterprise applications, and wallpapers are the other significant contributors to premium services revenue growth.
Qpass gives operators control over their mobile commerce business and enables them to offer any type of premium service across any type of network using multiple payment methods. Mobile operators using Qpass' software are on track to exceed $1 billion in aggregate revenue from premium services in 2005, with an average growth rate of 60 percent compound quarterly growth rate over the last year.
About Qpass
Qpass, headquartered in the U.S. and with offices in Europe, is the proven and preferred provider of mobile commerce software for leading mobile operators. Qpass customers in the U.S. and Europe collectively reach more than 75 million subscribers today. These operators, including Cingular Wireless, Nextel, Alltel, Dobson and Vodafone Ireland, use Qpass software as an overlay to existing business systems. The software efficiently manages mobile commerce payment and settlement, content partner relationships, service bundle creation and customer care in mobile or Wi-Fi networks. Over the past 18 months alone, operators have achieved sales increases of more than 3,500% with Qpass software, driving premium data services business worth hundreds of millions of dollars per year. Today more than 185 content partners and aggregators are integrated with Qpass software, delivering over 10,000 applications to mobile users. For more information, visit www.qpass.com.