Dubai, June 2003 - "e-lysium Transaction System Inc, Miami USA re-appoints McGordons Ltd and Lars Olof Känngård as their representative in the Middle East region."

e-lysium began the development of its Super Transaction Engine in 1997/98 and today has the only true real-time stored-value transaction platform available for global usage.

e-lysium does nott have excessive administration costs for handling the actual transaction, all cost are automatically computed and distributed in live time as it carries out a transaction as a stored value transaction system. You can deposit $100 dollar in Miami and redraw the amount in Pakistan in an 1/18 of a second later, with all costs paid.

This system is highly competitive with the existing systems, faster, safer and provides the flexibility which allows the user to meet his individual needs.

e-lysium, has during the last four years, employed world class software development groups such as Cap Gemini of France and Logica of England, as well as establishing its permanent in-house architecture and development group.

“ – e-lysium is the next generation transaction standard in the world”, stated 
Mr. Kanngard, who has been involved in transaction based consumer and public system solutions for more than 20 years.

“- Having known Lars Kanngard since the early 80ies and having seen how Mr. Kanngard keeps his focus and carries out projects, both in Sweden and in the  UAE, allows e-lysium to invest its confidence in his ability for putting this new project in motion,” states Mr. Albert L. Weintraub, the founder of e-lysium.

e-lysium formed in August, 2002, a joint venture with The Central National Bank of Enid Oklahoma.  The Joint Venture has launched two new consumer concepts, based on the e-lysium’s transaction system;

MyLana – a Mexican based financial company, provides facilities whereby Mexican guest workers residing in US can through their employer, load payroll cards (in lieu of an issued payroll check) which allows the worker to send money back home without using Western Union or paying the normal high bank charges, the transfer fees, and conversion charges.  The worker can also obtaining cash through local ATMs and goods through POS facilities..

HDO, a university smart card supplier which will allow the parents to send allowances to their children instead of providing credit cards, debit cards or smart cards.  The student can thereafter utilize such funds for buying books, paying for a Coca-Cola or paying their fees for different courses as well as provide for their allowances.  (Allowances can be controlled by the parents through the internet and reloaded by the parents directly from the parent’s bank account) .The stored value card cannot be over drafted, it is easily replaced if lost, and can be used at any POS or ATM Machine. It is not tied to a bank account and is extremely safe from fraudulent use.

“ The way e-lysium works, as a fully pre-paid system, means, that if you do not have sufficient balance on your e-lysium “account” you can’t spend anything. This appeals to me, since you change the traditional way of economic thinking.  Now you can have a non-debit card prepaid credits and you do not pay interest or penalties on debt.. With e-lysium, you Pay and then you Trade or Consume.”

Putting this into the perspective of new growing societies in this region, all levels of our society will save large amounts. The social, psychological and health effects clearly fit in with Muslin tradition and moral values.

Pay as you Use – this “thinking” can be implemented on all levels.

Do you want to read more about e-commerce, its background, with our perspective or you may want to read our perspective on what truly e-commerce and future electronic trade, exchange and stored value is all about, just following this link. e-commerce.

If you want to read more about e-lysium in USA, just following this link directly to e-lysium Transaction System Inc, in Miami , USA ,

We are now looking for banks, organizations and Governments in the Middle East region, who are interested to participate in the deployment of e-lysium as the e-hub.

If you want to contact us and discuss your opportunities and how you can get e-lysium into your organization, just send us an e-mail: lars@e-lysium.ae or follow this link: www.McGordons.ae for further contact details.

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